8 E-commerce Myths Busted Today!
Sat Aug 13 2022
We won't lie- it's painful to see new businesses not getting through the market because of their ignorance about e-commerce. When your business adopts e-commerce, it opens up to new ways to scale and succeed. It's improbable to find one perfect formula to ace your sales but striving for it is just as important.
Over the years, there have been many businesses that have refrained themselves from getting into setting an online shop. This inhibition can be credited to the misconceptions that are held around e-commerce portals. Even worse, businesses jump into e-commerce with some wrong ideas and end up cursing what could possibly be the biggest boon for them.
So, in this article, we will talk about some of the commonly held myths about e-commerce and what are the facts.
Myth #1 E-commerce is not for small businesses Small businesses often think that just because they don't have much to offer and their customer base is limited, e-commerce will only become an additional cost for them.
Multiple brands started small but scaled massively only because they played their cards right on the online platform. Your website has to have good SEO and all the right products to attract a customer, irrespective of how small your business is. If you're doing it right then, an e-commerce store is exactly what you need.
Myth #2 You need to have an app Now that we're seeing brands getting mobile apps as soon as they hit the market, it has never been a compulsion. The mobile app comes with additional cost and resourcing, which can be challenging for a small business.
If your e-commerce website is fully featured and mobile optimized , you don't need to get an app. Your customers will not prefer downloading multiple apps for occasional purchase. However, buying your products instantly through a Whatsapp chatbot can be a real game changer for them as it’s highly convenient and less time consuming.
To offer your customers a better experience, you can integrate a Chatbot into your e-commerce portal. Who needs a mobile app when you can interact with a human-like chatbot on Whatsapp? It will save you a substantial amount of money and your customers the effort of downloading an app.
Myth #3 You need to have a niche product Well, it never hurts a business to have a unique product or a unique selling proposition. Many small and medium businesses often refrain from getting an e-commerce store just because their product has a wider customer base or the product is used by masses.
If you are offering something that is a household item or something that’s regularly used by your audience, then don’t let your lack of exclusivity stop you from winning with an online shopping portal. Most businesses thrive and succeed when their product becomes a part of their customers’ lifestyle. In such cases, the customers have high brand loyalty as well. Now, serving your trusting customers with this brand loyalty and the convenience of online stores will only benefit your business.
Myth #4 E-commerce needs a lot of your time & efforts It is less of a myth and more of a subjective challenge. For some businesses, setting up e-commerce can be a nightmare. For the others, it could be a cakewalk. In its earlier years, e-commerce platforms were really difficult to understand and implement.
Setting up your website or selling products online isn't the hardest thing you'll have to do. Selling online has become easier than ever with quick installation, uncomplicated user interface, and limited requirement of technical knowledge. It has become as doable as running a social media account. Through EasySocial, you can set-up your e-commerce store in as little as 30-45 seconds! You can also upload a bulk inventory in just one click.
Myth #5 E-commerce is expensive Traditional e-commerce stores that needed to be built from ground-up used to be exorbitantly priced. Due to a lack of understanding of the market, target group, and selling platforms, brands were looted in the name of going online. Recovering this heavy amount was nearly impossible as it had more time, management, and manpower demands.
Businesses used to overpay because they were unaware of how they can sell their products through online platforms. The truth is, you don’t need to create an e-commerce store from scratch. Cloud based platforms like EasySocial are offering one-click online store set-ups. The platform offers exceptional performance and app-like experience for customers. The cost is extremely affordable and the results are significant.
Myth #6 Transaction costs are crippling When you are using a third party tool to sell your product, the transaction cost can become sizable. However, the truth is far from the myth. Transaction cost is a crucial factor that affects every business’s profit margins. Some payment gateways can charge from 1.5-3% on each transaction which is a large chunk of earnings in low-margin products. That’s why it’s important to understand how you can cut it down and avoid paying from your pockets.
Online stores open-up new ways for you to conduct business without paying extra from your profits and pockets. You must select the right platform to carry out transactions; platforms that don’t charge extra or have zero transaction cost. Payment platforms like Paytm, PhonePe, Google Pay, and UPI charge a 0% transaction fee. EasySocial is built around free payment options to minimize your cost for business and maximize your profits while giving your business the best of e-commerce experience.
Myth #7 You need extensive support for your e-commerce E-commerce isn't easy to master - true! There will be a lot of challenges, and you might need assistance every step of the way.
However tough it might get, automating your e-commerce shop is the best way! If you're dubious about getting a dynamic website or launching your products online on giant e-commerce platforms, you can get it done through EasySocial. The platform gives a state-of-the-art infrastructure, automatic services, auto-scaling virtual machines that can handle any amount of customer interactions. It’s so self-sufficient that you don’t have to give any external support for its smooth functioning. Click here to see how it works.
Myth #8 Virtual Shopping experience don’t need human touch We can still see many businesses ignoring the need to provide a personal and more human-like experience to their customers in the online shopping portals.
The times are changing, and everyone wants to experience an in-store experience in the comfort of their homes. If you can help your customer pick the right size, find the best offer, and navigate to your store - all with the help of an automated chat, then you are winning at your customer engagement. Understand that shopping is not merely an exchange of goods for money, it’s an emotional experience. Especially in Indian consumer behaviour, we can see a customer’s need for negotiation. So, rather than making your online store completely mechanical, add a touch of human connection by giving one-to-one personal conversation. This will boost your chances of acquiring the customers and also help you sell more than what the customer intends on buying.
Conclusion Now that all your e-commerce myths are debunked, it’s time to take your business online. The mantra for success today is to ensure your presence on a platform where your customer is. Give your customers the convenience and extraordinary experience of shopping at the comfort of their home. EasySocial allows you to give a 24x7 shopping experience to your buyers, and get a personalized e-commerce website experience or do a Whatsapp Chat. They can place an order in just one click, seek instant support, look through your entire catalogue and do much more!
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