Many businesses have found that in order to remain competitive they must implement an ecommerce solution as soon as possible. In fact, so popular is this business model that some companies are adopting this as their only method of doing business.
The internet represents the largest target market ever and the potential for new customers is better than ever.
Why the internet represents such a good opportunity:
Negligible Start-up Costs
Start up costs alone for even a small business such as a high street shop can be crippling. There are premises to be leased, inventory to be purchased and stored, staff to be engaged and motivated, and that is before you consider heating and lighting bills. All this puts pressure on cash flow as these items have to be bought and paid for before the first customer walks into your store.
There are no premises costs with an ecommerce solution, no staff either if you are clever at automating the processes and more importantly perhaps, no staff motivation issues to worry about.
The costs of an ecommerce solution amount to cents in the Dollar, domain names can be obtained for under $10 and ecommerce hosting can be obtained, depending on scale, for under $200 a year. You then need to consider any specialist software for your site But most items such as a shopping cart can be obtained as ready made ecommerce solutions and are very cost effective.
Highly Cost Effective Advertising
Traditional methods of promotion require you to invest in glossy brochures, flyers, posters and give away items such as stickers, t-shirts, pens etc. You can never be sure which items are being effective in creating leads and again there is a large up investment to be made and also a considerable lead in time until your target market receives your material.
Advertising online for your ecommerce solution is both highly trackable and immediate. Many marketers make use of a pay per click system where it is very easy to understand your target market and what items they are most interested in buying. It is possible to have adverts online and in front of your market in as little as fifteen minutes using the Google AdWords system.
Flexibility To Provide Deep Discounts To Customers
Perhaps the greatest benefit of the low cost of maintaining an ecommerce solution is that you can afford to provide discounts and special offers at incredible prices just simply unachievable by your offline competitors.
