Most entrepreneurs interested in selling products online often think of setting up shop in established eCommerce sites like Amazon, eBay, or Etsy. The reason most people opt for established eCommerce sites is that they think it’s easy. However, it’s not as easy as it sounds. You may open a shop on one of the platforms and even build a successful store. But, is just a matter of time before another seller hacks it and moves to the top.
You find yourself losing revenue to your competitors. Furthermore, running internal adverts in established eCommerce sites is not that easy. Having your own online store gives you full control over your business, and eliminates cutthroat competition, especially if you have identified a niche. Read on to find out the main advantages of having your own online store.
A Wider Customer Pool
Having your own online store enables you to access a bigger customer pool. You could place ads on TV, local dailies, and even radio. Moreover, an online store enables you to reach customers in other countries even continents. However, you’ll have to incur costs such as shipments and oversee taxes. Your products may become popular in other places than in your hometown.
When building an online store, you may have to meet initial costs like hiring a team of developers. Nevertheless, the initial cost is marginal compared to the profits you stand to reap if your store becomes successful. Currently, online business is growing rapidly and online sales are going up as more businesses and individuals are trading online. This means there is always an opportunity to grow your business.
Trade Around the Clock
Online stores run 24/27 meaning you can make money even when sleeping. This significantly increases the number of orders you can receive and process compared to brick and mortar stores. Moreover, your customers will always have the privilege of accessing your store around the clock, which is convenient for them.
Potential for Rapid Growth
Online trading platforms are not subjected to the traditional constraints that limit the growth of the retail business. For example, if you have an online store, you’ll not have to find and pay for shops. All you need is a good digital marketing strategy and a plan to grow and expand order fulfillment. As you reach out to more buyers, you can respond and increase your sales.
Insight on Customer Data
A key advantage of selling products/services online is that it makes it easy to collect, measure, and respond to insights you get from customer data. Having accurate consumer data also helps you improve customer service. An online store enables you to collect customer data and keep track of customer interactions. You can use the data to continue to innovate the customer experience.
Content Marketing Strategy
Online stores allow you to implement a content marketing strategy by providing additional information about your products/service to customers. The strategy is even effective if your site is branded with an appropriate logo and other branding materials.
As you can see, investing in an online store is attractive than ever. At de Haro Group we can help you build an eCommerce store that converts. Contact us we help you jump-start your business.