How to Transition Your Small Business Into the Ecommerce World
One way the COVID-19 pandemic has reshaped our culture is that everyone is a lot more online now, and that includes small businesses. With quarantines, lockdowns, and other public health restrictions limiting in-person shopping, eCommerce got a huge boost during this time. But businesses without an online presence are still scrambling to catch up. It’s not likely that the eCommerce boom is going to subside, even after the pandemic passes, so it’s a good idea for company owners to plan for more online activity for the long term.
How can you move your business to a digital space?
This depends a lot on the kind of business you’re running. Some businesses actually may be more successful if you are able to transfer them to the internet since you’ll be able to reach a wider audience. Coaches, consultants, and accountants should have little difficulty making this change. If you are selling actual physical products, however, you have additional questions to consider, such as how to arrange ordering and shipping and how to display your wares on your site.
Set a budget for your move online.
While operating a digital business will likely save you money on overhead costs, you do need to budget for the expenses involved. Your budget should include the cost of such tasks as setting up a website, securing a platform, and acquiring shipping materials. Bear in mind that your pricing may need to be tweaked when you shift to an online model; you may have to raise prices on some items to cover shipping and platform costs. Alternatively, you may need to lower costs on services such as fitness classes, which people tend to spend less on when they’re virtual.
You’ll need a professional website.
If you’ve been getting by with a barebones site — or no site at all — this will have to change. To run a successful online or hybrid business, you need a website that is ‘findable’ and easy to use. Customers are likely to be put off by a site that seems unprofessional or is confusing to navigate. Consider working with a web designer to make sure your site is up-to-date and attractive. You will also need to consider cybersecurity to keep your site secure from potential hackers and data breaches. Be aware of cybersecurity best practices to protect yourself and your clients. Lastly, it’s all about the visuals these days, so make sure to work with a pro like Amy Collett for your branding needs.
Figure out a sales platform to use.
There are several different options for new eCommerce entrepreneurs who are setting up for digital sales. The easiest way is probably to take advantage of online sales platforms such as Etsy or Amazon, where issues like security are already taken care of for you. But if you’d rather sell directly from your site, you can use secure and reliable payment software for online sales. If you opt to use a platform like Shopify to create your business site, sales and payment processing are part of the package.
Improve your business know-how.
You are preparing to enter a new phase of business ownership, much of which may be new to you. And as competitive as eCommerce has become, you can’t afford to fly by the seat of your pants; you need to be informed and knowledgeable about this new, energetic market. It might be helpful for you to sign up for some online classes on business management or internet technology. You could even pursue an online MBA to improve your skills in marketing, finance, and strategy, as well as hone your leadership abilities.
Shift to social media.
Entrepreneurs who are already comfortable operating online have an advantage in that they are also probably adept at social media. This is where a lot of your business engagement will be happening. Establish a social media presence and read up on effective networking. Pay close attention to your content, most especially imagery. You will also need to master social media data analytics, so you can figure out how to reach your target audience.
Transitioning to an online model can be a great way to expand your sales network and increase profits, but it’s important to be aware of how to go about it correctly. Budgeting carefully and getting savvy about online sales will help you transition to an eCommerce model smoothly and safely.
Article by Amy Collett from: http://bizwell.org/