A new product entry point into a market is a great opportunity to build a dedicated digital sales channel, outside of distributor networks. Create an identity for the new product and support that identity exclusively with a digital commerce direct sales strategy. Distributors may eventually want to have the new product added to your wholesale product line, but that comes as an after-effect once the direct sales channel has been established.
Sales channels are an often overlooked yet very important part of the sales program. If you have been losing bookings or market share it may be that you don’t have the right channels to fit specific customer needs.
Starting with an e-Commerce site first allows you to establish your brand, find footing as you develop your products, and set up a mission control center before you accelerate your success through other third-party sales channels. Implementing a multichannel sales channel strategy has become a requirement for every business. The strongest brands are the ones that meet customers where they already spend their time.
E-commerce is simply buying and selling products or services online without requiring customers to visit you, in person, to complete the transaction.
Over the last ten years, e-commerce has become increasingly important for many businesses – even those that still have physical shops – as it offers greater flexibility for business owners and customers.
However, the pandemic led to a sudden increase in businesses including or even switching to an e-Commerce model to continue trading with physical distancing. Despite restrictions easing, many businesses will now consider growing their e-commerce capability for the long term.
We expect many more new businesses will launch using e-Commerce on their own, to begin with.
Selling online offers several advantages.
- Reach: If people can buy from you without visiting your physical shop, it becomes possible to attract customers from outside your local area, city, or even country. This is useful for businesses selling niche products where there may not be enough people living locally who would be likely to buy them.
- Flexibility: Rather than being restricted to staffing a shop counter for standard opening hours, you may have the opportunity to choose the hours you work, to manage and fulfill online orders.
- Cost savings. You will have some costs involved in setting up online, but you can often get started with a much smaller financial commitment than taking a lease on physical premises.
- Data. It can be easier to capture data on how customers behave online and what they buy to help you decide on your future business strategy.
GalAvail is an all-in-one platform for small businesses. Our technological resources empower our customers to start and grow their businesses. Founded in 2016 and headquartered in Quito, Ecuador.
By The Business Development Team @GalAvail