Why Every Small Business Needs an Online Presence (yes, EVERY)
Even though eCommerce has been around for a while and many companies are now in the phase of perfecting their online stores and eCommerce offerings, the market still has much more room to grow. And believe it or not, it will! Globally, eCommerce is projected to hit $8 trillion by next year, more than $1 trillion up from where it is currently.
That means there will be many more companies moving to eCommerce for business growth in the near future, but turns out, there are SO many misunderstandings about eCommerce. At LincSell, we work with many business owners from small one person operations to big companies with extensive physical and online presences, to help them all use eCommerce for business growth.
But as we talked to them, it turns out they were filled with doubts and online store myths that were very soon debunked once they saw what a gift an online store is for a business. On our mission of debunking myths about eCommerce, we interviewed 5 entrepreneurs of different sized businesses to see what their top online store myths were. If you’re on the fence about adding an online store to your offering, let’s see if we can’t clear some things up!
1. eCommerce is Only For Large Corporations
Since online selling is dominated by Amazon and other huge retail corporations, it makes sense why this would be top of mind for many small business owners, but small independent businesses actually thrive in eCommerce. Huge misunderstandings about eCommerce include that consumers want the fastest, easiest products, but actually they want to support small businesses with quality products.
With 34% of people making at least one purchase a week online, there is plenty of room for small businesses to use eCommerce for business growth alongside big companies, and we need to get past the online store myths that shoppers won’t find or support small businesses online.
2. Once Your Online Store is Set Up, There’s Nothing More to Do
While to a small extent, this is true, in debunking myths about eCommerce, we need to clarify that getting your online store off the ground can be simple and straightforward, but for true profits and long term sustainability, it is important to constantly maintain and evolve your website and online store. This is where your own LincSell team can help you through metrics, purchasing analysis, and social media marketing to reach more customers.
You don’t just hit the “live” button and go to sleep. Technically, you need to make sure your website runs efficiently and your customers can access and purchase effortlessly. You also want to build relationships with your customers, get to know what they like, see what more you can do for them, and get them engaged with your business.
One of the big online store myths is that word of mouth does not exist on the internet – not true! If customers like your business, they will share it with their friends.
3. Small Businesses Can Only Sell Locally
Which brings us to our next misunderstandings about eCommerce, which is that small businesses can only sell in their local communities. The positive word of mouth from your satisfied customers can actually spread all around the globe! The beauty of having an online store is that your store knows no boundaries, never closes, and is right there for people from all over the world to “walk” right into.
Online store myths like the inability to accept international payments online or having enough inventory to satisfy a large international audience are completely debunked when hosting your online store with LincSell. Your support team will make sure that your online store has the perfect POS system, payments processor, and integrations with services like print-on-demand that you need.
eCommerce for business growth is inevitable when tapping into international markets.
4. Expanding Your Business Takes Much More Work
As we discussed before, you can’t just sit back and relax after your store is up and running, but as we’re debunking myths about eCommerce, it definitely doesn’t take an insane amount of additional work if you’re looking to expand your business. Word of mouth spreads like wildfire, and if you have a great product while presenting a lovely shopping experience and engaging your customers, they are going to tell everyone to buy from you.
One of the best and easiest ways to distinguish your business is to just make sure that your website and online store are maximized for mobile. It’s a simple test that you can implement at the beginning that will bring you more returns than anything else. Over 90% of people shop on their phones, and it’s surprising how many online stores don’t have an easy to use mobile interface.
Just get that one simple thing right, and you’ll see a tremendous amount of benefits of eCommerce for business growth. Customers will flock to you when they find out how easy it is to buy from their phones.
5. The Lower the Prices, the More Customers Buy
This is one of the biggest online store myths! Do NOT cheapen your product or business reputation by lowering the price – it will not bring more customers. Focus instead on creating a one of a kind shopping experience that will leave a great impression on your customers. If they love your website, feel comfortable “in” your store, feel valued by your company, and love your product, then customers will want to support you by buying more, coming back, and telling others to do the same.
Of course, there is a fine line, and you don’t want to overprice your products, but customers know when something is too cheap to be true, and can grow skeptical of the quality of the product or the business.
Conclusion
Don’t fall into these major misunderstandings about eCommerce! These are real concerns had by entrepreneurs that have been smashed as we are debunking myths about eCommerce. An online store will tremendously help your small business, and with LincSell, it is easier than ever to set one up and have it work for you.
eCommerce for business growth is the way to go! Book a Demo and see what LincSell can do for you!
