With the advent of the Internet and new technologies, it is essential that any entrepreneur seeking to make a profit and develop his business be familiar with e-commerce or e-business.
If you aspire to increase your company’s sales and obtain greater economic benefits, you must take advantage of new consumer trends, influenced by the rise of World 2.0.
In some countries, e-commerce has experienced significant growth between 2013 and 2017, positioning it as an attractive opportunity for business.
So much so that during these 4 years, the volume of transactions increased by 81.3%, according to the System of National Accounts of the National Institute of Statistics and Geography .
Thanks to this expansion, e-commerce has grown from 481,232 billion euros in 2014 to 1,004,142 in 2017.
In addition to this growth trend, e-commerce has great prospects for the future, due to the steady increase in the number of frequent Internet users in recent years.
According to an article by Forbes, quoting statistics from Content 2.0, in 2017 the number of Internet users will reach 82.5 million and is expected to reach 92.2 million by 2021, representing a penetration of 71.9% of a population in Europe and other continents.
Good! You now know the relevance of e-commerce in the business world and its projections for the next few years, so it’s time to focus on learning how to take advantage of it in your business.
Next, we will share 13 key tips to help you successfully add your business to e-commerce. So pay attention to the following!
identify a good market niche
In e-commerce, as in traditional commerce, there are market segments that have not been exploited and are therefore eager to acquire products and services that will enable them to meet their needs. These are the so-called niche markets.
Identifying these groups will allow you to launch products and campaigns that will allow you to be successful in e-selling.
If you are wondering how to find a good niche market, it is essential that you analyze and segment your audience.
This is essentially a matter of detecting user groups that are not satisfied and offering them your goods and services.
Another important aspect is that you look to the future. Before you launch a new product range and market it in digital form, analyse whether demand will be sustained in the coming years.
A good product or service is characterized by meeting current market needs and, moreover, has the potential to remain a consumer priority for the future.
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Of course, this does not mean that entering competitive markets is a bad idea for developing an e-commerce project.
Keep in mind that the Internet is a vast community and you will have endless sales opportunities by presenting your business on it.
However, to be successful, you must strive to differentiate yourself from the competition and offer added value to the public.
set up a management system
One of the tools that can best help you implement this new form of marketing in your company is a business management system or ERP.
As it is software that centralises all the information in your company in an automated way, it allows you to speed up your processes and have better internal control.
However, below we explain 5 specific ways in which a good technology system will help you to implement e-commerce successfully.
It allows you to manage your inventories
One of the keys to good sales control is effective inventory management.
With the right software, you can have real-time information about your warehouse and prevent ant theft, a problem that often occurs with disorganization and inefficient manual audits.
Specifically, automated inventory management, using a technology solution, becomes more important as you begin to generate sales electronically and, as a result, order volumes increase and turns become more consistent.
This way, you will not have any complications in handling larger batches of goods or internal disruptions due to increased demand for your products.
Even if you decide to open new warehouses or collection centres, this type of software will allow you to view them in an integrated way.
It facilitates the monitoring of several types of indicators
There are certain types of indicators that SMEs should measure, especially when implementing new strategies or taking advantage of trends such as e-commerce.
In the case of e-commerce, you can assess it by closely monitoring visits to your online store and comparing sales volume with previous months.
A very good way to effectively monitor these indicators is to use rapidly integrated technology solutions that can be adapted to other systems in your company.
These software solutions collect information from all areas of your company and store it in a centralized database, which you can access to analyze measurements and statistics.
Another area of your business that will be affected by the emergence of electronic sales will be accounting.
This area is responsible for recording and interpreting capital and will absorb more transactions and larger amounts.
This is why, in order to develop e-commerce effectively, and so that it does not generate internal disorder, it must be accompanied by a technological solution that helps you automate and simplify your accounting.
Thanks to this tool, you will obtain constant financial reports and you will be able to fulfill your tax obligations in a simple way.
In addition, this type of software allows you to view, in real time, the status of your organization’s financial parameters, such as revenues, costs and expenses.
They even have the functionality to show current assets, which will increase through online sales.
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Track your accounts receivable
Today, e-commerce is also a powerful tool for optimizing and increasing wholesale sales. The management of your customer accounts is therefore of paramount importance.
Thanks to digital channels and platforms, it is possible to receive and manage large orders, usually placed by other companies, such as retail outlets, to name but one example.
A characteristic feature of such sales is that they are made on the terms of invoices to be received. You will therefore need a technological system that allows you to control the credit you grant to avoid jeopardizing the financial stability of your organization.
With this tool, you will be able to view at any time the due date of receipts, the persons responsible, the amounts and other details.
Allows you to manage sales from outside the office
Although it allows you to get closer to a large community, e-commerce does not sell itself; to generate consumption, you need planning, goal setting and ongoing monitoring.
In short, you need to put in place effective business management that allows you to take full advantage of this trend.
That is why it is important that you have a technological system that gives you the flexibility and comfort to carry out this task, while providing you with sales reports for both digital and traditional channels.
If you have software that works with cloud computing technology and therefore hosts your information in secure, remote servers, you will be able to access the data needed to manage your sales from different devices and locations, simply with an Internet connection.
For example, you will be able to set and track electronic sales targets from the comfort of your own home, as well as speed up collection processes and issue tax receipts.
Now that you know how the implementation of a business management system can help you do e-commerce, we will continue with the following tips!
Offer simple and intuitive navigation and visual consistency on your website
You should take into account the fact that, in the context of e-commerce, your website or other digital platforms will be your store.
That’s why you need to make sure they have the right image, as well as the physical location of your business.