Are you one of the many people who dream of owning their own business? Stop dreaming and start doing! The time is now to capitalize on your ambitions of venturing into the world of entrepreneurship. In today’s world, the best option that you have is to create an eCommerce business. This will be the most efficient business model, with the largest opportunity for success. eCommerce sites offer vast opportunities that are not found with brick-and-mortar stores. A website is easier to create, run, and expose than a physical store location. Here’s why you should create an eCommerce business today.
Now, more than ever, is the right time to start your eCommerce website. The eCommerce business has been booming. It has been reported that the United States’ total eCommerce sales surpassed the 100 billion dollar mark in the third quarter of 2016, with sales of $101 billion. eCommerce has been growing consistently over the years, and has shown no signs of slowing down. More and more brick-and-mortar stores are being closed as many new online stores are being created. Of course this does create a good amount of competition, which is a downside. But competition is to be expected with any kind of business. Overlook the downsides of heightened competition, and focus on the positives of owning an eCommerce business. The number of opportunities presented to you by starting an eCommerce business is high.
Choosing to create an eCommerce store will also give you a larger potential customer base. In comparison to a brick-and-mortar store, an eCommerce site will be open to so many more people. A physical location limits your business, as not everyone can get to your business, only people in the vicinity of your store location. Having an online store is like having a physical store in every city in the entire world, because everyone lives close to your eCommerce store. It is in their pockets, on their desks, and in their homes.
To reach a larger number of customers with brick-and-mortar stores, you would have to open many more locations, which would cost you a ton of money. With a webstore, you theoretically have every single internet user as a potential customer since they all have access to your store. I say theoretically, because not every internet user is going to know about your store. But still, it is easily accessible to them once they do know about it. It is also possible for many people to come across your store just by chance. But to really increase the number of people who view your site, consider investing in a good SEO marketing campaign with an established company. Once you create an eCommerce business, its opportunities with customers stretch further into the aspect of convenience in both operating and analyzing your company.
Another thing you can’t do with a brick-and-mortar store is make money while you are asleep and while you are in the comfort of your own home. eCommerce sites are up and running 24/7 so you do not have to worry about setting opening and closing hours for your store. Your store is open and running while you are asleep! You could wake up one morning with a bunch of sales through your website that occurred while you were in bed the night before. It won’t be nearly that easy if you’re running a physical store location!
eCommerce business also offers the opportunity to quickly learn a lot of information about your customers. Implementing an analytical software such as Google Analytics will allow you to learn about your customers at the click of your mouse. Google Analytics offers in-depth insight into both the demographics and psychographics of your eCommerce customers. This information will prove to be of great importance to you as you can take it and use it to your advantage when it comes to advertising and trying to better appeal to your customers.
Maximizing Potential Success
To maximize the potential success of your business, you should open an eCommerce store as opposed to a brick & mortar one. This will increase your potential growth, customers, and sales, as well as allow you to better understand who your customers are. It also offers new ways to advertise your business, such as through a SEO (Search Engine Optimization) marketing campaign. If you do decide to create an eCommerce business, the best way to get new visitors to your site is through such a marketing tactic. So what are you waiting for? Go start the business you’ve always wanted to!