You know what it takes to become an entrepreneur from my previous articles. Now, In this article I’m going to elaborate on the topic, ‘E-commerce.’
What is E-commerce?
Commercial transaction that is done over the internet, It’s the most advanced form of Business form. E-commerce is the new trend in the world of business today. Every businessmen/entrepreneur is converting their offline business into an online business. It’s because now the users/clients are more interested in dealing and orderings things by sitting at home. Well, what’s better than using the comfort that the technology provides?
Preference of people has changed. Offline business stores are mostly available online as well. Multi-form of business is the best to expand your business. Having an offline business and online business will expand your business. It will increase your cost, but this might also help you to transform your business into a large scale business. Having a large scale business means having a good revenue. So why don’t we grow?
Allow me to tell you a few advantages of E-commerce:
1. Easy access to your customers
By setting up a website, application and giving your customer a chance to engage with your business. It will allow you to know about your customer more. You’ll get to know the kind of product they usually buy and prefer. Knowing about your target audience is one of the major advantages of setting up a E-commerce platform.
2. Precise information
Customers will be able to gather the information they require about any product they want to buy. If you have an application, web-portal in which you have provided every aspect/discounts/information about the product, it will increase your credibility. People will visit your platform more and you’ll gain revenue on every buy.
3. Bulk Order
Since your business will be available to end number of people. You’ll have a good reach and developing an application, website portals will allow your audience to place their orders. Clients/ Customers ordering in bulk can help your business to reduce its task. Basic rule, ‘More goods at the same time will decrease your cost.’
4. Customer Service
Having your business on the online platforms allows your audience to connect with the dealers. Having a 24/7 customer service will certainly give your business a hook. Providing good customer support to your customers will increase your company’s goodwill in the market. This will attract more customers and this will help you to grow your business.
5. Humans V/S Machine
Humans tend to make more mistakes than machine which is natural. We have emotions; set of limitations and the regular task require end number of continuous practice. E-commerce has provided businesses with the scope of making less mistakes. Machine learning provides the structural base to the applications, website, etc. Connecting your audience efficiently is the most important segment. If the platform is not designed properly, it will not achieve good amount of engagement by the customers.