Ecommerce or say electronic commerce literally means business trading through internet. It was somewhere around mid 90s when ecommerce was introduced to the world. Since then, it has never looked back and that an increasing number of entrepreneurs and consumers are paying more and more attention towards it. It is all happening because of the exemplary performance of some of the most famous ecommerce businesses around the world such as eBay, Yahoo and Dell. The sales revenue that these companies have generated is indubitably one of the major factors why Ecommerce is important in the commercial market nowadays. However, let’s have a look to a few more reasons why ecommerce marketing is growing faster.
Time is essence
1
Ecommerce marketing is important for both the business and the consumers when it comes to time. As a very less time is spent during each transaction, business can achieve more transactions on the same day. Similarly, when it comes to the consumers they can save more time during their transaction unlike it happen in the traditional commerce. For instance, let’s say you need to do a banking transaction that can be accomplished within a few minutes through internet, you might require hours to complete it through traditional banking. So, ecommerce marketing helps you save your precious time as payment and documentations can be completed with greater efficiency.
Cost-effective
2
Ecommerce is quite cost effective than the traditional commerce as you don’t require to pay a middle person or say a third party to sell your products. So you can save the money and can invest it in the betterment of any other aspect of your business.
Customer to cost Ratio
3
Since advertising on internet is far more cost effective than advertising on traditional mediums like TV, Radio, Roadside banners etc, so you can achieve a better customer to cost ratio through it.
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Business Overheads
4
Like other factors, even the overheads that are required to run an ecommerce business is relatively very less than that of traditional commerce method. There are so many costs involved in the traditional commerce method such as maintenance cost, cost for staff, communications and office rental, all of which however can be replaced by a single cost and that is web hosting for the ecommerce business.
Better connectivity
5
Since, there is no geographical constraints and time constraints in ecommerce marketing as consumers can access your website virtually from anywhere, anytime , it provide better connectivity between the business and the consumers benefitting both at the same time.
Convenience
6
Consumers find ecommerce marketing to be more convenient than the traditional as they can easily research and compare products before making a purchase and that they don’t need to bear the hassles of visiting places to do so. Besides, online trading has less red tape compared to traditional commerce method, which makes it more convenient.
Besides!
One more reason why ecommerce marketing has become important or booming high is because of the increasing number of internet and mobile web usage by the consumers. So, if you want to survive and stay competitive in the ever changing market, you must include ecommerce in the essential business plan for your company.
This was all about ecommerce and why it is important. Do let know your views on it in comments. We would love to hear from you.
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DSIM Team
DSIM Blog is created to help you to know all aspects of Digital Marketing ranging from basics of Digital Marketing to Advance Level Topics, Read our posts and feel free to reach our team for any queries.
