Or maybe both? Nowadays, many entrepreneurs ask themselves how they can best market their products. In doing so, they often have to choose between a physical retail store and an online shop in the sense of reasonable allocation of resources. The great advantages of a retail store are of course the haptic experience of the customer, as well as the direct contact between seller and buyer.
However, since a large part of the business is now taking place on the Internet it is increasingly considered to give up the retail store in order to open an Internet shop. Of course, this requires a sophisticated online marketing strategy like wealthy affiliate, but it’s worth it.
Here are the 10 most important advantages of an online business:
The main argument is and remains the elimination of the expensive shop rent that is incurred in normal shops. This money can be invested in a sensible online marketing strategy.
An internet shop provider also has lower personnel costs. Often a shop manager has to be hired and personnel is required for shipping and accounting, but an online shop owner usually needs far fewer staff.
Cross-selling offers are the purest sales machine. Nowadays, modern software solutions make it possible to show every visitor an absolutely personalized online shop. In a normal shop, it is not easy to convert the shelves of every visitor according to their preferences.
Targeted discounts can be offered which, for example, follow certain sales or quantity rules so that more are bought. In a retail store, the customer usually feels annoyed with up-selling offers at the checkout.
The customer of an internet shop is not tied to opening times and therefore likes to drop in after work (or during his working hours?) And shop.
If you want to open an internet shop, you also have relatively low initial investments. In the retail store, the old principle applies: “mass sells mass”. This means that there must always be a relatively large amount of goods on the shelves in order to implement a lot. Studies show that you can only buy a lot with full shelves. Due to the increased demand for goods, dead capital also increases drastically. An internet shop owner only has as much floor as necessary.
With an internet shop, you practically increase your reach to an entire country (or even worldwide). If the shop operator combines innovative products with a clean online marketing strategy, then he automatically reaches much larger sales markets than with his shop.
With statistics tools such as Google Analytics, a long-awaited shopkeeper’s dream comes true: It can finally be found out how a customer moves through the shop and what he thinks about it. In normal shops, this is only possible with a very complex and mostly non-objective test.
Customers often allow you to send them a newsletter after purchase. These CRM measures create additional sales. According to studies, online marketing costs for a new customer are up to six times more expensive than for an existing customer.