Businesses must have an online presence in order to reach and engage with their customers in today’s digital age. This is especially important for eCommerce businesses that rely entirely on online sales to generate revenue.
According to a recent Statista survey, global eCommerce sales will reach $6.91 trillion by 2024, up from $4.28 trillion in 2020.
Nonetheless, despite eCommerce’s enormous potential, many businesses face significant challenges when establishing an online store or digital storefront.
One of the most significant issues that eCommerce business owners face is a lack of visibility and reach.
Businesses that do not have a website or online store are limited to selling through social media or other third-party platforms, which may not have a wide reach. This limits growth potential and may result in lost sales.
Furthermore, without a website, businesses may struggle to establish credibility and trust with potential customers, limiting their growth even further.
The consequences of failing to have a website for an eCommerce business can be disastrous, as it can mean missing out on potential sales and falling behind competitors with a strong online presence.
There is, however, a solution.
Businesses can tap into the enormous potential of internet-based business and internet marketplaces by creating an online store or web store.
In this article, we will discuss the advantages of having an eCommerce website, such as increased visibility, credibility, and cost-effective marketing, as well as provide practical advice on how to create an effective online shop or virtual shop.
Continue reading to learn how to capitalise on the opportunities provided by electronic commerce and online commerce.
1. Improve Visibility
Increased visibility is one of the primary advantages of having an eCommerce website, which can lead to more traffic, higher conversion rates, and increased revenue.
Businesses that do not have a website may struggle to reach new customers because they are limited to selling through social media or other third-party platforms. Businesses, on the other hand, can tap into the vast potential of the internet-based business and internet marketplace by establishing an online store or web store.
According to Comission Factory, 90% of internet users in Malaysia have made an online purchase at some point in their lives. This emphasises the enormous potential of online retail and the importance of eCommerce businesses having an online presence. Businesses, however, are missing out on this potential market if they do not have a website.
Without a website, eCommerce businesses’ reach and visibility are limited, making it difficult to attract new customers and grow their business.
This can lead to a loss of sales and revenue. Fortunately, there is a workable solution.
Businesses can increase their visibility and reach new audiences by establishing an online store or virtual shop, allowing them to capitalise on the potential of electronic commerce and online commerce.
In conclusion, setting up an online store or web store is critical for eCommerce businesses looking to increase their visibility and reach new audiences.
Businesses that do not have a website may struggle to attract new customers and grow their business, limiting their potential for success.
If an ecommerce company has its own website, it can tap into the vast potential of the internet-based business and marketplace, increasing visibility and revenue.
2. Better Customer Service
Another significant benefit of having an eCommerce website is that it allows customers to purchase products in a simple and convenient manner, improving their overall shopping experience.
Businesses without a website must sell through social media or other third-party platforms, which may not provide the same level of convenience or ease of use as an eCommerce website.
According to a Baymard Institute study, 69% of online shoppers abandon their carts due to a difficult checkout process.
This emphasises the significance of providing customers with a seamless and user-friendly purchasing experience. Businesses may struggle to provide this experience without an online store or virtual shop, resulting in lost sales and revenue.
Lack of an eCommerce website can exacerbate the problem for businesses by limiting their ability to provide their customers with a convenient and user-friendly purchasing experience. This can lead to higher cart abandonment rates, fewer sales, and a negative impact on the company’s reputation.
That is why you require a website for your ecommerce venture.
Businesses that establish an eCommerce website can provide a streamlined and user-friendly purchasing experience, increasing customer satisfaction and driving revenue.
Having an eCommerce website is critical for businesses that want to improve the customer experience by making purchasing products simple and convenient. Businesses that do not have a website may struggle to provide a user-friendly purchasing experience, resulting in lost sales and revenue.
Businesses can provide a seamless and convenient purchasing experience, improving customer satisfaction and driving revenue for their eCommerce business by establishing an online store or web store.
3. Credibility and dependability
A professional eCommerce website is essential in today’s digital age for establishing credibility and trustworthiness with potential customers.
According to Statista, 75% of consumers judge a company’s credibility based on the design of their website. This emphasises the significance of having a well-designed and professional-looking website in order to gain the trust of potential customers.
Businesses that do not have a website may struggle to establish credibility and trustworthiness with potential customers, especially those unfamiliar with the brand. Customers are more likely to purchase from a company they trust, which can result in lost sales and revenue.
Businesses that rely solely on social media or third-party platforms to sell their products may face a worsening of the problem. While these platforms can help you reach a larger audience, they may not provide the same level of trust and credibility that a professional eCommerce website does.
Businesses can build trust with potential customers and drive sales by creating an eCommerce website that showcases their products and services professionally and credibly.
A well-designed website can also assist businesses in differentiating themselves from their competitors, thereby increasing their credibility and trustworthiness in the online marketplace.
A professional eCommerce website is essential for building credibility and trust with potential customers. Businesses that do not have a website may struggle to build trust with potential customers, resulting in lost sales and revenue.
Businesses, on the other hand, can showcase their products in a professional and credible manner by establishing a web store or online shop, thereby building trust with potential customers and driving sales for their eCommerce business.
4. Economical Marketing
Aside from being a platform for selling products, an eCommerce website can also be a low-cost marketing tool for your company. Traditional marketing methods, such as print advertisements and television commercials, can be costly and may not effectively reach your target audience.
However, with an eCommerce website, you can reach a larger audience for a fraction of the cost. Email marketing campaigns, for example, can be easily integrated into your website to promote new products, discounts, and other special offers. Social media platforms can also be used to drive traffic to your website and boost your online visibility. You can increase your visibility, attract new customers, and drive sales by implementing these strategies.
Unfortunately, without a website, you will be unable to take advantage of these low-cost marketing methods. This can lead to decreased visibility, fewer customers, and, ultimately, decreased sales.
In today’s digital age, having an online presence is not just an option for any eCommerce business; it is a requirement. You can market your products more effectively, reach a larger audience, and ultimately grow your business by investing in an eCommerce website.
5. Data Analytics and Tracking
Understanding your customers’ behaviour and tracking the success of your marketing efforts are critical when running an eCommerce business.
Using various tools and software, you can track important data such as customer behaviour, sales, and traffic on an eCommerce website. Google Analytics, for example, provides information on website visitors such as their location, age, gender, and interests, whereas social media platforms such as Facebook and Twitter provide analytics on the performance of your social media ads.
You can make informed decisions about your eCommerce business by analysing this data, such as which products to promote and which marketing channels to focus on.
However, tracking data without an eCommerce website can be a difficult and time-consuming task.
Many traditional retail businesses measure the success of their marketing efforts based on foot traffic. This method offers limited insights and lacks the granularity required by eCommerce businesses to make informed decisions.
As eCommerce expands, competition heats up, and the need for accurate data tracking becomes even more critical. Businesses that have an eCommerce website can stay ahead of the competition by using data to make informed decisions.
To conclude, having an eCommerce website can help your business in a variety of ways.
It can assist you in reaching a larger audience, improving customer experience, establishing credibility and trustworthiness, providing cost-effective marketing, and enabling analytics and data tracking.
These advantages can assist you in staying ahead of the competition, increasing revenue, and growing your business.
Lamanify is here to assist you if you want to start or improve your eCommerce business. We provide a variety of eCommerce solutions, including website design, development, and optimisation.
Contact us today to learn more about how we can help you grow your online business.