Benefits of Shifting your Business to E-commerce Space
If you’re a business owner considering moving to the online space, this is the sign you’ve been waiting for. In our latest infographic, we’re giving you a list of the benefits of shifting to e-commerce and why you should migrate immediately.
Advantages of e-commerce over traditional commerce
The e-commerce space offers a plethora of opportunities for SMEs to grow in a new platform. In addition to its cost effectiveness, its high convenience is seen as a great asset especially for the new normal.
Overcoming geographical restrictions
E-commerce allows you to breach your geographical limits through maximizing the power of online connections and networks. You can market your services to everyone and go head-to with industry giants, given that you have the right strategy.
Choosing your platform for e-commerce affects your reach. With a good channel for your online business, you can discover new demographics and introduce you to a wider network to market your services.
Lower operating costsThis benefit is considered one of the most important for SMEs.
Upfront expenses will be very low for online businesses since they don’t have to acquire physical space to operate and there’s no need to pay wages, rent and benefits.
Measurable performanceE-commerce is a space where everything is trackable. If you need to gauge how your business is performing, you can always run to programs like Google Analytics and voila! Important metrics and figures are presented in just a click.
Better Consumer experienceE-commerce gives consumers the best in-store experience since you can get advice about the services and see testimonials from individuals or companies who availed the same product or service.
However, e-commerce for B2B (business-to-business) companies are more complex since they are long-term partnerships, which means you need to step up your customer experience to make them arrive at the buying stage.
Making the move to the online business space can highly complement your brick and mortar entity through the numerous benefits of shifting to e-commerce. With the right strategy, you can reap the best of both worlds and further expand your firm in both platforms.
Considering starting up your own e-commerce business? We can help. D&V Philippines can help you in starting out through our outsourcing solutions. Read our whitepaper D&V Philippines E-commerce Accounting Solutions to know how good accounting and bookkeeping can set you up for success.