Articles » E-commerce - The global market..
E-commerce - The global market..
With the expanse of the online market, more and more businesses are taking advantage of e-commerce. As consumers are increasingly drawn to the convenience and ease of online shopping, companies large and small are generating great revenue from this method of trade.
Without the need to spend on public premises or massive amounts of stock, e-commerce websites can often be run solely from a home office and are a highly cost effective, low risk investment for many start-up businesses, as well as established retail companies.
The benefits
Having an e-commerce facility can extend almost any client base and increase sales, reaching new customers in potentially any geographical area. Existing customers may also enjoy the benefit of being able to browse 24/7 from the comfort of their own homes, or prefer buying online altogether.
Online shopping allows web browsers to type in and find exactly what product they want, as well as access valuable information about the business. Some customers may not enjoy dealing with staff in stores, who may be uninformed or pushy about selling their own stock. For many consumers, shopping online is easy and quite often a lot cheaper, as online traders sell with fewer overheads.
Setting up
Outlining your objectives
An e-commerce business requires clear planning from the outset. Gaining online traffic from search engine results alone can take several weeks. It is important to define a clear search engine optimisation (SEO) strategy, as well as run parallel marketing campaigns to enable your website to generate the sales it needs in the soonest time possible.
Online shop design
Much like an actual shop, the appearance and layout of an e-commerce website will play a critical role in its success. A professionally designed website can give customers the feel of a large, well established company, even if there is only one person running it.
Whilst the nature and vibe of a business can be reflected in a good design, having a website that's also easy to navigate is vital, as this will help customers find exactly what they want quickly and ultimately make a purchase.
Localised, nationalised and internationalised e-commerce
Localised e-commerce websites enable you to sell goods specifically to certain regional areas. Individual prices, offers and product ranges can be localised with the use of IP address mapping. The same principles can be applied on a national scale. With localised and nationalised online shops, you can tailor your business to meet the needs of particular areas of the market.
For an online business to be truly global, correctly planning an internationalised online presence is essential. Proper internationalisation incorporates localisation by adapting language, currency, domain names and recognising aesthetic preferences and cultural differences, appropriate for the respective national and regional markets.
Marketing
As online shopping continues to grow, so do the number of e-commerce websites. A newly established e-commerce site should be promoted in as many different ways as possible. Having an eye-catching design and user friendly interface is only the first step.
Search marketing
A skilled web designer and / or SEO specialist will be able to help a website achieve the desired search engine listings under chosen key phrases, however this can take time and should always be backed up with other marketing methods.
Email marketing
Targeted email campaigns are relatively inexpensive compared with other marketing techniques. Using a professional template that maintains aesthetic continuity with the website will strengthen brand recognition and provide a quick and easy link to the goods available online.
Dynamic print
Opposed to static print, dynamic print allows unlimited variations of the same document, enabling you to target your paper campaign to specific groups or individuals. Responses to dynamic print campaigns are usually more than double that of static print.
In tandem with dynamic print, you can also incorporate PURLs (personalised URLs; i.e. www.johnsmith.yourdomainname.com.au). As soon as a prospective customer accesses a PURL website, they will be greeted with information that is relevant and aimed at them.
A print campaign can reinforce the credibility of a website and serve as a tangible reminder to potential customers.
Viral marketing
Word of mouth is by far the best form of advertising for almost anything. Viral marketing is a fairly new way of online promotion that cleverly relies on individuals to voluntarily pass on advertisements through emails, blogs, message forums and social networks. Viral marketing can be incredibly cost effective and extremely wide reaching, but needs to be planned carefully, as generally only campaigns that are highly entertaining or offer genuinely good incentives worth sharing will entice people and encourage them to spread the word.
Security concerns
Over the years e-commerce technology has improved vastly. Online shopping is now safer than ever before. In fact even more so than in a real shop. Some customers may still be uneasy about giving their personal and financial details online, but generally this reluctance to buy over the internet is diminishing, as consumers are becoming more educated about the reliability of online security measures.
Providing contact details, such as email addresses, telephone numbers and postal addresses is a simple way to improve confidence about security. Allowing customers to make contact over the phone, even for just straightforward sales enquiries, can help nervous buyers overcome their worries.
If you have an actual store, listing the physical address and including images of the premises on the website will reassure customers that the company is genuine. People concerned about security may also check reviews about the business on the internet, or even visit the shop (in which case the website has worked as a very inexpensive advertisement).
Abandoned carts
A notable trend of online shopping is abandoned carts (unclosed sales). Whilst the majority of decisions made by customers to abandon carts can't be controlled, factors in the layout and presentation of the website can be, to try and prevent this:
- shipping prices - any shipping fees should clearly be shown at the start
- total cost - ensure overall prices are not higher than most other competitors
- registration required before purchase - this can be a barrier to sales
- checkout process - this should be streamlined, the less steps, the better
- site stability and reliability - ensure that the site is not unstable or unreliable
Overall e-commerce websites should always be customer focused by presenting clear information, having a user friendly interface and being easy to navigate.
Expanding and growing your business online
Many businesses that have branched into e-commerce have experienced massive growth. As online stores can offer lower prices, better variety and greater convenience to more consumers, the demand for internet shopping is rising.
Getting into e-commerce as early as possible will offer the best opportunity for success. As well as building customer awareness and confidence, a strategically marketed and well designed e-commerce website can easily facilitate expansion. Product ranges and details such as current stock levels can be added or changed very quickly.
An online shop can accommodate the needs of customers who may not be able to visit actual premises, due to geographical or time constraints, at the same time allowing all customers access to information online about a business's latest offers and newest wares.
With the potential to increase sales and profits, at decreased costs, more companies (and consumers alike) are taking notice of the possibilities of ecommerce. As interest in online trading continues to grow, e-commerce will soon become a vital element for many product based businesses.
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