Ever heard of not putting all your eggs in one basket? While an overzealous Easter bunny may feverishly object, consider this proverb a golden nugget of eCommerce wisdom. In an era where convenience and visibility rule the digital court, setting up shop across multiple sales platforms is one move that you can’t afford to miss out on.
Put simply, the idea behind multichannel eCommerce is that a wider net catches more fish. By establishing a credible, far-reaching presence, your business’s chances of success will increase exponentially in a variety of ways… 5, to be exact!
Now that we have the basics down, let’s get into the benefits! Keep reading for the lowdown.
#1. Revenue Growth
For any company, the bottom line is always top of mind. While there are certainly other factors that go into the decision-making process, money is what keeps the wheels turning — figuratively, and sometimes literally! Well, you’ll be happy to know that multichannel eCommerce is a no-brainer for anyone (read: everyone) seeking major revenue growth.
Why? Easy! Back to the fishing metaphor, multichannel eCommerce essentially allows for more opportunities for visibility, and, ultimately, sales conversions. Of course, you’ll still need to flex your marketing muscles to reap the full rewards, but there’s strength in numbers here.
#2. Risk Reduction
If the Roman Empire could fall, so could any of your chosen sales platforms. Even if the circumstances aren’t quite so dramatic, system maintenance and crashing servers can, at best, force you to lose out on potential sales, and, at worse, cause shoppers to forget about your brand as it gets lost in the shuffle. Out of sight, out of mind — that kind of thing.
Furthermore, if you’ve already invested a considerable amount of time into one specific platform, think about how much of a nightmare it would be if all of your efforts disappeared along with it. In this case, it’s better to play it safe.
#3. Brand Exposure
Putting yourself out there isn’t always easy, but it sure is necessary. After all, you could have the most amazing products in the world, but that won’t mean much if no one knows about them. Aside from getting more eyes on your business, brand exposure often comes with the added perk of perceived credibility — that is, the more people see your company around, the more it starts to differentiate itself from a sea of competitors. Speaking of…
#4. Gaining a Competitive Edge
Leave your competition in the dust by going bigger and better. If they’re selling on two channels, sell on three. Obviously, you should scale within reason, but the point is that, unless a potential customer has done extensive research, they’ll most likely opt for pure convenience (and price!) over anything else. It’s what the big leagues do, so why shouldn’t you?
#5. Enhanced Customer Experience
More than ever, customer demands are at an all-time high. Transactions are now part of a larger, overarching customer experience that can make or break a sale. At the end of the day, long-term profit is largely reliant on happy shoppers who prop your company up with their unwavering support. And, since everyone has different shopping preferences, it just makes sense to cover your bases by being flexible and meeting people where they’re comfortable.
Our last bit of advice is to approach multichannel eCommerce strategically and sustainably. Do your research and only commit to choices that align with your business’s best interests. Before spreading yourself too thin, you have to make sure you have enough to go around.
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