Sales

Unlocking Success: Why eCommerce should be considered essential for microbusinesses

- March 28, 2024 3 MIN READ

 

Establishing an online presence has evolved from being seen by some as a luxury to instead being used by many businesses as an essential tool in their day-to-day operations.  If you’ve ever contemplated selling online but hesitated due to concerns about costs, it’s time to dispel those worries, writes Suzanne Mitchell, Australian market lead at GoDaddy.

Diving into the world of e-commerce can be feasible on a limited budget and could also play a key role in the growth and sustainability of your business.

GoDaddy’s latest Venture Forward data in Australia showcases the opportunities available to entrepreneurs who sell online. Over 40 per cent selling online today make as much at $5,000 monthly and just short of 60 per cent see website sales as the channel offering them the most growth.

Breaking down the costs of an online store

The initial investment for an eCommerce website can vary significantly, ranging from what some would consider modest figures for a small to medium-sized site built independently, to more substantial sums for extensive platforms tailored to specific business needs. However, the good news is that there are options available for different budgets. By leveraging user-friendly website builders, open-source platforms, or managed e-commerce solutions, entrepreneurs can look to minimise expenses whilst seeking to maximise their online presence. Aside from lowering barriers to entry for small businesses, establishing an online presence to sell your products and/or services can have added advantages.


Widening your customer reach

A compelling reason to embrace eCommerce is its ability to transcend geographical boundaries and tap into a global customer base 24 hours a day.

GoDaddy’s Venture Forward data (from over 1,000 Australian microbusinesses) shows that more than a quarter of Australian microbusiness owners with an online presence reported that their revenue stayed constant or increased in the last 12 months.

Unlike traditional brick-and-mortar stores limited by physical location, an online shop can open doors to an expansive market, where anyone with internet access has the potential to discover and purchase products or services. Moreover, operating round the clock can help ensure that potential customers aren’t constrained by time zones or business hours, offering both convenience and accessibility.

eCommerce enhances shopping efficiency

Another area where eCommerce can shine is the efficiency of the shopping experience. Unlike the frustration of finding an item out of stock in a physical store, online shoppers can be provided with information on product availability. With intuitive search functionalities and well-organised product listings, navigating through an eCommerce website can be a breeze and can, in some instances, save customers valuable time and effort. Additionally, personalised recommendations and complimentary product suggestions play a part in enhancing user engagement and the potential to encourage additional purchases.


Leveraging marketing strategies

Embracing eCommerce doesn’t just have to be about setting up a virtual storefront; it can be about leveraging marketing tools and strategies to help drive cost-effective traffic that leads to sales. From targeted email campaigns and social media promotions to search engine optimisation (SEO) tactics, the digital landscape can offer a plethora of avenues to help connect with potential customers and stay top of mind with existing customers to cultivate brand loyalty.

Crafting a unique identity

In a crowded marketplace, standing out is often regarded as a key factor to success, and creating an identity online is important. Building a strong brand identity and communicating a compelling Unique Selling Proposition (USP) can help differentiate your business from competitors. Understanding your target audience’s preferences, values, and purchasing behaviours can help you tailor your offerings and messaging. Consistency across all touchpoints, from product quality to customer service, is important to foster trust among consumers.

Beyond its cost-effectiveness and accessibility, eCommerce can offer opportunities for business growth, streamlined operations, and targeted marketing efforts. By embracing e-commerce and harnessing its potential, small businesses can look to level the playing field and compete on a global scale. So, if you’ve been contemplating taking your business online, what better time to seize the opportunity and embark on the journey. If you’re ready to open your doors online, here’s how to get up and selling in next to no time.


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