The latest trend in marketing is the online-marketing or e-commerce. As the internet and web technology reached at its peak all the business started using this technology. To with stand in current and future marketing industry you must go online. The advantages or needs to go online are discussed below.
I. It is cheaper compared to setting up a physical store
When you set up a physical store or if you currently having a physical store, in order to have high revenue your shop must be in cities and you have to pay huge amount of money as rent. In addition to rent, electricity cost, insurance and other incidents also will be high. But setting up an online store is cheaper. To have an online store, you have to invest in following:
1. Domain name: Your online shop must have a domain name it may be the name of your offline store or something new. The price for a domain name is really cheaper.
Price list for .com domain provided by famous domain name service godady.com is given below.
Visit http://in.godaddy.com/domains/bulkprices.aspx for more detail.
2. Hosting service: Number of hosting service providers are increasing exponentially every year and due to the tight competition among them you will get a hosting service in cheaper price. Web hosting plan offered by webcomindia.net is given below.
3. Web developing: Like hosting and domain name web developing cost also cheaper and you can hire some local developers to develop your e-commerce website.
4. Shipping service: Since customers from different geographical region will buy products from your online store, you need to make an agreement with a shipping service and their service will be available in affordable rate.
5. Warehouse: You need a warehouse to keep all the items available in your e-commerce website and there is no need that the warehouse should be in cities, it must be in the vicinity of your shipping service provider.
6. e-commerce platform: If you are new to e-commerce technology and worried about all the above listed items, you can easily set up an online store with the help of an e-commerce platform. An e-commerce platform service provider will take care of domain name, hosting, developing and shipping and the service are available at cheaper price.
The price list of Magento e-commerce platform is given below
Visit http://go.magento.com/plans for more details.
II. No geographical boundary
Once you put your store online, people from different geographical region can access your store and order items online, and your shipping partner will ship your item to that region.
III. High traffic and visibility
With the help of Search Engine Optimization (SEO) technique you can improve the visibility of your store. You may be selling items that are very rarely available in offline or online store and when a needy customer search for the item in web your e-commerce store will pop up in the results.
IV. Less advertising cost
Unlike offline advertising online advertising are targeted advertising, means your advertisement will reach to only potential buyers and their by attracting them to your online store. The cost of online advertising also cheaper: Google Ads offer you the option to do advertising according to your budget.
V. 24/7 X 360
Having an online store means your shop is will never close, and customers can purchase or visit your store any time they want.
VI. No Fit Outs
In your offline store, you may not be able to display all the items you are having due to space constraint, but in the case of online store there is no fit outs.