The content of this article is provided for informational purposes only. You should always obtain independent business, tax, financial, and legal advice before making any business decision.
Whether you're selling handmade crafts at holiday markets or running a retail store of your own, expanding your business to online channels could propel its growth and revenue.
Read on as we explore factors that’ll help you decide if it’s time to take your business online — and, more importantly, how to make the journey as strategic, straightforward, and successful as possible.
Wondering if the digital leap is right for your brick-and-mortar store? Keep an eye out for these three signs:
If your business's inbox is overflowing and phones are constantly ringing with customer inquiries, it could indicate that customers are seeking a more convenient way to find information on your products.
Launching a website can provide your customers with the information they want, including pricing and product details. You’ll also be able to take online orders, making it a win-win for both you and your customers.
An uptick in word-of-mouth recommendations and referrals may be a sign of your business's growing popularity beyond your local area.
This buzz hints at the potential for tapping into new markets. An online storefront can bridge the gap, allowing these potential customers to explore and purchase from you, no matter where they are.
Is your competition making waves online? Noticing a trend toward e-commerce within your industry should act as a wake-up call that you need a website.
Keeping abreast of your industry's digital transformation can help secure your business's future in an increasingly online marketplace.
The digital era has ushered in rapidly changing consumer preferences for online shopping — in the fourth quarter of 2023, e-commerce sales accounted for more than 15% of total U.S. retail sales.1
With revenue from global retail e-commerce sales expected to grow by 39% in the next few years, moving your business online can help you meet evolving customer expectations for convenience, variety, and instant gratification.2
Businesses that strategically embrace this digital shift can tap into a broader market and further their bottom lines, especially if they keep up with trends in online shopping.
Though brick-and-mortar stores continue to be a mainstay in retail, venturing into the digital realm opens significant opportunities.
Imagine a store that never sleeps, where customers from any time zone can browse and purchase at their convenience. The around-the-clock nature of online stores not only caters to impulse buyers but also accommodates shoppers with all types of schedules.
Beyond 24/7 availability, online stores also benefit from targeted marketing. Rather than casting a wide net with traditional advertising, you can segment customers based on their demographics, interests, and behaviors to launch tailored ads with relevant messaging.
Whether through chatbots, email, or live chat, e-commerce stores provide convenience and assistance that transcends traditional business hours.
If shoppers need an additional nudge before hitting the “buy now” button, they can also explore product reviews, ratings, and testimonials from existing customers. This type of social proof can foster a community of trust and transparency around your brand and products.
Instead of simply trusting your gut when it comes to what’s working and what’s not, e-commerce platforms offer snapshots of website traffic, product views, and purchase patterns. These data-driven insights allow you to tailor your offerings and marketing to meet customer demands more effectively.
Surveys and reviews are another way to gather direct input from your customers, giving you actionable ideas for enhancing product satisfaction and addressing any areas needing improvement.
Don't let geographical limitations confine your business. By adding an online sales channel, you can connect with customers nationwide or even internationally, which can give you the ability to exponentially expand your potential customer base and revenue while providing a buffer during market fluctuations or unexpected events.
Ready to bring your business online? Use this five-step checklist to set the foundation for a successful online presence.
Before anything else, decide on your online operational model. Will you leverage the convenience of existing e-commerce platforms, create a bespoke website, or combine both approaches?
Select a domain name that resonates with your brand — it should ideally match your brick-and-mortar store’s name.
Next, build your website. Select a user-friendly layout and optimize your e-commerce product pages by featuring high-quality product images and concise descriptions.
Don’t forget to optimize for mobile shoppers as well — 60% of all e-commerce sales are placed using mobile devices.3
A sketchy checkout page with limited payments can deter even the most enthusiastic shopper.
To counter this, implementing secure and versatile online payment options is essential. Not only do you cater to a broader spectrum of customer preferences, but you also instill a sense of security.
Selecting a dependable fulfillment method is key to maintaining customer satisfaction. Take the time to research different shipping and fulfillment vendors, tools, and carriers, paying specific attention to rates, estimated delivery times, and customer service capabilities.
Learn more about how to choose a shipping method.
Now comes the big day: launching your online store. To ensure your shoppers are as thrilled as you are, create a launch plan that drums up excitement.
Social media posts, email blasts, and influencer collaborations are popular ways to promote your business online. Tactics like promotions, discounts, or exclusive offers can also help spark buzz around your new online store and boost early sales.
Expanding your business beyond a brick-and-mortar establishment to an online store is a crucial way to future-proof your business. When you take your business online, you unlock the door to global customer access, 24/7 sales opportunities, all amounting to greater scalability.
For more tips, check out this in-depth guide on starting an online store.
In partnership with three expert business owners, the PayPal Bootcamp includes practical checklists and a short video loaded with tips to help take your business to the next level.
We use cookies to improve your experience on our site. May we use marketing cookies to show you personalized ads? Manage all cookies