What is Ecommerce?

(Achieving Business Growth with Online Stores)

Ecommerce is one of those buzzwords thrown around a lot these days, but what does ecommerce really mean and is it possible for anyone to become successful?

Ecommerce implies electronic financial transactions and is one of those new words created in the post computer era by tacking an e on the front of an existing word to signify its digital nature. Whether it is a sale through an online store, the buying and selling of domains and online spaces, or online auctions; any kind of digital transaction comes under the heading of ecommerce.

Why should I be interested in ecommerce?

If you have a business and are looking to build your consumer base – and what successful business isn’t – then opening an online store can provide the growth you need. Ecommerce has allowed businesses to reach customers from all over the world, regardless of where the business is physically located. It is this universal reach that makes ecommerce the biggest evolution in marketing since the invention of currency by putting big business success within reach of the smallest enterprise.

Ecommerce solutions allow you to reach more customers than ever before, world wide, whilst providing convenient and easy methods of shopping that encourage sales without your customers having to leave their homes.

Is ecommerce for everyone?

Some businesses lend themselves to ecommerce better than others. Obviously, any product that can be easily mailed to a customer anywhere in the world has an advantage in ecommerce over large products or services that cannot be transported cost effectively over long distances. Pianos would not be a good mail order business but books and dvd sales thrive online.

But even if your business is limited by these factors, the online marketplace can still attract customers to your physical store. Even though the transaction may not be completed online, the lead generation and ordering process can certainly begin there.

Why is ecommerce so successful?

Imagine if your business was able to occupy the largest premises you can imagine, capable of allowing thousands of customers to browse at the same time from wherever they are in the world and imagine that the rent on this superstore was far less than the rent on your current physical store. It’s not hard to see why so many businesses have completely moved online, as the overheads are considerably smaller than the traditional high street store. But more commonly, it is advisable to have both an online and physical store, attracting different types of customers.

Add to this the ease of being able to send out email marketing material to your entire customer base with the click of a button whereas a traditional mail-out can be costly and time consuming.

The automation of ecommerce also makes sales success much easier. Your online store is open for business 24 hours a day, 7 days a week. People can visit and buy from your store whilst you sleep, the money transferring automatically into your account. Your computer doesn’t ask for a pay rise or penalty rates for staying open on public holidays. In many ways, ecommerce enables small business to achieve the same results as much larger companies with very little additional outlay.

Should I be Involved with Ecommerce?

If you aren’t, it is highly probable that your competition already is. If competing businesses grow larger and more successful by combining their ecommerce and terrestrial businesses, the risk they pose to your business increases. Can you afford to allow your customer base to whittle away as more and more people discover the ease of shopping online?

Ecommerce is with us to stay. It has dramatically revolutionised the way we do business. To ignore the ramifications and advantages of ecommerce would be to risk your own business slowly becoming outdated and redundant. There will always be a place for traditional commerce, but ecommerce is fast becoming a necessary and essential part of any business plan.

NetRegistry can help any business explore the possibilities of ecommerce for their business with a range of effective ecommerce products. Don’t get left behind – expand your business online today.