Why this is a good time to move your business online

For many businesses, the decision to move online is one they are still grappling with. The steady rise of eCommerce websites may have you feeling like it’s time you joined the rest of the world. In addition, the current health crisis has magnified the need for eCommerce as opposed to physical stores. To explore the benefits of making this move for new and existing businesses, see below.

1. Everything is Moving Online-Including Your Customers

If you ever needed the reason to expand to an eCommerce website, this is it. We are officially submerged in a time where virtually anything can be done from the comfort of your own home, and the rise of eCommerce has significantly added to this convenience for consumers. So even if you’re not planning to solely position your business to your target market online, it makes for a pretty good addition to potential consumers who are less inclined to get off the couch and make their way to your physical place of business.

2. Cheaper Start Up Costs For a New Business Venture

One of the biggest drivers for people to set-up shop online as opposed to a physical store is the low-risk factor. Setting up an eCommerce website eliminates the operational costs associated with opening a physical location. This includes high rental fees, salaries for staff who will be employed on location, and the installation of costly security systems amongst many other things. All these expenses can leave many entrepreneurs feeling like it’s too big of a task to tackle. Although setting up an eCommerce website comes with its own fees, it is significantly cheaper than the start-up costs of a physical store.

3. An Ecommerce Website Expands Your Consumer Base

A key benefit of moving online is the opportunity to exponentially grow your consumer base. An eCommerce website expands the access consumers have to purchase your products or services. Not only are existing customers able to conveniently shop 24/7 from your site, but new customers from all over the world are now able to significantly increase your sales by having the option to support your business through its online platform. Really, it’s a win-win situation.

4. The Ability to Capitalise on Social Media

The rise of eCommerce has been coupled with the rise of social media marketing. Having an eCommerce website means being able to leverage off of traffic on your social media platforms in order to convert this to sales. In other words, likes can turn into revenue. Social media can become an extension of your brand identity, and can present you with an opportunity to engage with consumers directly.

The world of business as we know it is changing rapidly, with foreclosure and uncertainty awaiting at every turn. Expanding online is one way to mitigate the effects of the global pandemic and give yourself an additional avenue to realise the dreams you have for your business.

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