E-commerce Strategies that can Reduce Costs and Increase your Market Presence

E-commerce strategies can come in many shapes and forms. Here are just a few examples to get you thinking about this emerging trend:

Multiple Virtual Storefronts (E-tailing): Having multiple online storefronts – which sell the same products and services, and that are available for business 24 hours a day, 7 days a week to a global consumer market – is a great revenue-generating strategy.

In general then, not only can you increase your company’s annual sales and revenues by conducting e-business, but you could also cut your costs of processing transactions by eliminating the need for a cashier, sales agent, and/or a customer service representative.

Prior to the advent of e-commerce, companies would have to spend thousands and/or even millions of dollars to open new stores across cities and countries. But now, thanks to the web and e-commerce, everyone has the opportunity to go beyond their physical reach and have multiple “locations,” at a fraction of the cost. Not only is this beneficial for businesses but it also provides consumers with higher degrees of flexibility and convenience.

Example 1: GUESS handles multiple online stores across Canada, United States, Australia, and United Kingdom. This allows the corporation to tailor its products’ pricing, shipping and handling costs, as well as, styles to the specific needs and likes of their consumers from each country. This ability to run global stores on the internet allows GUESS to profit immensely, without having to undergo the huge expenses, stress, headache, risk, and time that comes with opening new locations.

Example 2: Another e-commerce component that could be advantageous for your business is the incorporation of online videos and pictures into your website. An online video is one of the most potent marketing tools. It’s effective for both SEO and customer service purposes as it provides small to mid-sized businesses “greater exposure and communication abilities.”

The Fairmont Vancouver Airport Hotel provides a good example of this technique. When you land on the Fairmont’s homepage, your attention is immediately drawn to a slide show which consists of pictures of the exterior and interior of the hotel. In addition, for those who prefer videos, there is also a “virtual tours” option which features a short 5-minute clip of the hotel’s rooms, amenities and facilities. This is a great strategy to attracting consumers of any kind, whether they be tourists or patients. What’s further notable about this marketing tactic is that having pictures and videos on your site allows a customer to learn all about your products/services without having to spend a second in your physical store.

In sum, an online store can take your business from a local to an international market. Additionally, with the help of e-commerce, you could manage multiple virtual e-tails, easily integrate photos and videos of our products on your site, and overnight, enhance your customer service, as well as, client satisfaction.