Why multichannel selling is so attractive for e-commerce
One of the first things an entrepreneur knows is that greater visibility in the market offers more opportunities for considerable profit and brand recognition. But what they may not know is that multichannel e-commerce is much more than having a physical and virtual store. In fact, it means having a presence in multiple virtual and physical channels, such as social media, marketplaces, own websites, physical stores, direct sales, mobile devices, telemarketing, sales representation, interactive TVs, among others.
These sales opportunities help sellers find consumers in the places they frequent, allowing them to establish successful commercial relationships, managing them across all channels visited by consumers.
But, these are not the only benefits of email list providers in germany selling. E-commerce can also:
• Create a unified experience: By combining physical and virtual channels, merchants can provide consistent experiences for consumers across all platforms. This allows retailers to respond to consumer needs, increasing interaction.
• Increase customer volume: Some consumers prefer to buy online, while others prefer physical stores. Others may shop online while they shop in-store. When retailers strategically place their products in the path of those searching for them, regardless of how they shop, they increase their visibility and reach.
• Target a specific audience: Based on the shopping channel a consumer uses, e-commerce companies can create customized, targeted offers, such as by creating discount coupons and inbound links.
• Diversify risks: Multichannel selling protects merchants from relying on just one sales method. If the e-commerce system goes down or a physical store stops attracting traffic, the company can diversify its channels with less risk of financial loss.
• Test new markets: Are you considering selling internationally? Try selling on online marketplaces like eBay, which allows merchants to test selling to international consumers.
• Improve consumer awareness: By making themselves available through multiple emerging and established channels, merchants demonstrate a forward-looking perspective and interest in consumers’ needs and buying habits.
How multichannel e-commerce can increase your sales
Selling your products through multiple channels can help you in a number of ways. Increased sales is certainly one of the most desired. A study by Stitch Labs documents that e-commerce businesses that sell on two platforms make 190% more profit than those who sell on just one.
While they face higher fees and complexities when adding more sales channels, multichannel e-commerce results in a higher bottom line.
• Increased reach: When merchants open physical stores and expand their presence in the online marketplace, their reach increases, allowing them to increase their mass distribution of products. By leveraging the enormous reach of e-commerce giants like Amazon, for example, it is easier for even small merchants to sell to a wider range of consumers, and the simple checkout process makes selling more convenient. This added visibility consistently translates into more profit.
• Increased convenience: Finding the best price is important to consumers. But buying online and having to ship the merchandise back is a hassle. Consumers are typically willing to pay more for a better, more convenient service, such as buying an item online and then exchanging it in-store. When retailers make it easier for consumers to make the buying and exchanging process, they can make more money.
• Increased points of engagement: With multiple purchasing options, consumers have more points of engagement and purchase. Consider, for example, a customer who tries on a blouse in a physical store but decides to buy it online in a different color.
• Increased consumer understanding: Selling across multiple channels gives retailers more information about their customers, allowing them to use that information to improve their sales. Tracking purchases also provides the opportunity to target ads to each consumer, increasing brand awareness.
What benefits does multichannel selling offer to consumers?
Businesses aren’t the only ones who benefit from a multichannel approach; consumers also benefit by:
• Trying before you buy: Retailers with a physical presence that complements their online presence offer consumers the opportunity to see a product before buying online.
• Engaging across channels to enhance the shopping experience: Consumers appreciate the flexibility of connecting across multiple channels during a single purchase, such as ordering online to pick up an item in-store or exchanging an item purchased online at a physical store.
• Personalizing the shopping experience: Retailers who take advantage of multichannel integration opportunities can offer a more customized shopping experience to consumers, exceeding already high customer expectations.
To increase revenue, your business must be competitive. One way to do this is by researching and implementing a successful multichannel sales strategy. Regardless of which channels you use, it’s important to always be on the lookout for any potential pitfalls that could threaten your business, such as fraud. Having a complete anti-fraud service that takes care of everything for you with strong statistical intelligence bases, great technological tools and fine human investigation, will allow you to only worry about your core business and achieve the much desired freedom to sell, investing more and more in achieving excellence with significant profitability.