eCommerce – Is it Necessary?

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The most noteworthy advantage of eCommerce is the lack of required overhead, especially as compared to traditional brick and mortar establishments. The traditional capital barriers to starting or running a business are significantly reduced, which in turn increases margins. Increased margins allow for greater profit and/or strategic price positioning. Focusing on eCommerce also gives your business greater flexibility, range and versatility. By eliminating geographic barriers, a business can court customers from anywhere in the world. It can also form partnerships with vendors all over the world, accessing high-quality suppliers at low cost. Another major value proposition of eCommerce is the fact that it attracts repeat business more readily than traditional supply models. A Bain and Company study showed that online customers are more loyal than traditional shoppers are and visit virtual locations much more frequently than their in-store counterparts do. Since it costs less to keep an existing customer than it does to find a new one, having an eCommerce strategy is a very straightforward way to promote customer retention. A major social change has occurred in the last decade, as the generation that grew up with the internet has entered the workforce. Their preferred medium is a digital one and they have spending power to match their comfort with technology. However, because of their high expectations, it is important that businesses ensure that the eCommerce experience reflects key ‘real-life’ features: easily located products, a simple and fast purchasing process and accurate inventory data. While designing these features, businesses can tailor and personalize the customer shopping experience with eCommerce in a way that is impractical with storefronts. Establishing an effective online strategy is an easy way to form better relationships with the most influential buyers. In person, it can be hard to know who persuades others to buy from you, but identifying online fans is much easier. Once identified, these key customers can be cultivated and continue to promote your brand in the virtual space. The growth of social media has meant that content for your eCommerce site can now be user-generated, rather than requiring in-house production. Sites like Twitter and Facebook allow for broad-reaching promotional campaigns that go out in an instant. To start with web design and web hosting in Oklahoma, get in contact with the professionals at VIP Hosting -