The emergence of the internet has led to a paradigm shift in the way businesses operate. As more people rely on digital technology to carry out their daily activities, the traditional brick and mortar businesses have had to adapt to the new normal. Selling in the digital age requires a different approach than the traditional way of doing business.
The digital age has brought about a lot of changes in the way businesses operate. With the advent of online marketplaces, businesses can now reach a wider audience without having to spend a lot of money on advertising. According to a report by Statista, the global e-commerce market is expected to reach $4.5 trillion by 2021. This means that businesses that fail to adapt to the online marketplace risk being left behind.
One of the first things businesses need to do to thrive in the online marketplace is to create a website that is user-friendly and easy to navigate. A website is the online equivalent of a physical store. Just like a physical store, a website should be designed in such a way that it is easy for customers to find what they are looking for. According to a report by Forrester, 44% of online shoppers say that having questions answered by a live person while in the middle of an online purchase is one of the most important features a website can offer.
Another important aspect of selling in the digital age is having a strong social media presence. Social media platforms such as Facebook, Twitter, and Instagram have become an integral part of people’s daily lives. According to a report by eMarketer, over 3 billion people worldwide use social media, which represents 42% of the global population. This means that businesses that fail to take advantage of social media risk being left behind. By creating a strong social media presence, businesses can connect with their customers in real-time and provide them with the information they need to make informed decisions.
One of the biggest advantages of selling in the digital age is the ability to gather data on customers. With the help of analytics tools, businesses can track customer behaviour and preferences. This data can be used to tailor products and services to meet the needs of customers. According to a report by McKinsey, companies that use customer analytics extensively are more likely to generate higher profits than those that do not.
In addition to creating a website and having a strong social media presence, businesses also need to focus on providing excellent customer service. In the digital age, customers expect to be able to contact businesses at any time and from any location. This means that businesses need to be available to customers 24/7. According to a report by HubSpot, 90% of customers rate an “immediate” response as important or very important when they have a customer service question.
Another important aspect of selling in the digital age is creating a seamless checkout process. Customers want to be able to complete their purchases quickly and easily. According to a report by Baymard Institute, the average cart abandonment rate is 69.57%. This means that businesses that fail to create a seamless checkout process risk losing customers. By simplifying the checkout process and providing multiple payment options, businesses can reduce the cart abandonment rate and increase sales.
In conclusion, selling in the digital age requires businesses to adapt to the changing landscape of the marketplace. This means creating a user-friendly website, having a strong social media presence, gathering customer data, providing excellent customer service, and creating a seamless checkout process. By embracing these changes, businesses can thrive in the online marketplace and reach a wider audience than ever before. With the global e-commerce market set to reach $4.5 trillion by 2021, businesses that fail to adapt to the digital age risk being left behind.