How To Maximize E-Commerce To Grow Your Business

CEO, National Retail Solutions (NRS). NRS POS, NRS DIGITAL MEDIA, NRS PAY, NRS FUNDING and NRS PETRO: Helping independent retailers succeed.

For small businesses, it is challenging to compete and survive in a world of fierce competition in today’s digital age. Small businesses must be strategic and savvy in their marketing efforts, investing time and money in e-commerce, social media marketing and content creation to reach a wider customer base.

As deputy mayor (and former mayor) in my town and a business owner myself, I’ve seen retail establishments come and go. Inherently, founding and sustaining a store is frought with challenges. Store owners routinely face high costs in marketing, renovating, upgrading and purchasing/maintaining inventory. Covid-19 flipped the retail model upside down. Stores that relied heavily on foot traffic discovered that their primary revenue source was drying up. Many big box operations have moved into neighborhoods, and online commerce venues are increasingly popular.

While establishing an e-commerce platform may appear daunting to a busy store owner juggling day-to-day operations in their physical location, it is almost a requirement in today’s market trends, with many customers accustomed to shopping online since the pandemic.

Register your domain name.

The first step to building an e-commerce business is choosing and registering a domain name. There are numerous websites available to assist store owners, such as Panabee, Shopify and NameMesh, that provide an extensive array of domain names. Remember that the domain name should be relevant to the company’s brand and easy to remember.

For example, if the shop specializes in makeup, incorporate relevant words such as flawless, glamorous, sparkly, etc. To register the name, store owners can use sites like NameSilo, GoDaddy and Instant Domain Search. If a domain name is unavailable, consider a slightly modified variation, but keep it as short and easy to spell as possible.

Select a hosting plan.

You’ll also need to select a hosting plan to make your website live. Examples of hosting companies include Bluehost, HostGator, SiteGround and more. Some hosting companies offer backup services, security and malware protection. It is important to look for these plans to keep safe backups and prevent any malfunctions if the site goes down.

Choose a user-friendly e-commerce platform.

When building a website, many businesses use a content management system (CMS), which is responsible for its design and functionality. Using a CMS simplifies creating and maintaining a website, allowing users to customize their websites without needing to understand the underlying code. These platforms include WordPress, Wix, Shopify and GoDaddy. There are many options to choose from, but it is up to the store owner to decide which one is right for their business based on their budget, experience and needs.

It’s not just important that the site looks great; it needs to be functional and easy to browse. According to one study, 76% of consumers look at an online presence before physically visiting a business. Your website could mean the difference between success and failure.

Select your payment methods.

After the website is online and active, research payment methods for your website. This can include accepting major credit cards, Apple Pay, Google Pay, Klarna and PayPal—and giving customers the flexibility and convenience to choose the payment option that works best for them.

Similar to payment acceptance at a store checkout counter, most online payment acceptance solutions are secure and designed to minimize data theft and fraud. When choosing an online payment acceptance system, carefully research the company’s integrity by checking reviews. Payment acceptance providers can be notorious for charging hidden fees and/or locking customers into long-term contracts with high early termination fees. It’s important to choose an honest service with transparent fees and a painless contract.

Set up a referral program.

According to McKinsey, 63% of Gen-Z consumers trust word-of-mouth recommendations from family above all other forms of advertising. This statistic reflects the power of word-of-mouth marketing and is a reminder of how influential it can be for businesses.

When creating a refer-a-friend program, store owners can include monetary rewards, like discounts or loyalty points and offers such as “Get 20% off your next purchase when you refer a friend!” Post on different platforms, such as newsletters, your website or social media. You can also consider using referral program software like Referral Rock or Ambassador to see how successful the program is.

Get started with SMS marketing.

Another effective way to increase customer loyalty is through SMS marketing. SMS marketing helps build relationships with customers and allows businesses to send personalized messages directly to their customers’ mobile devices.

However, know that there are laws prohibiting sending text messages to customers unless they opt in. Under the Telephone Consumer Protection Act (TCPA), marketers must receive consent before sending promotional messages to customers. ​​When sending out these texts, include the business name, terms and conditions, data rates, and opt-out instructions. Compliance with SMS marketing regulations can help you prevent legal problems that might later be extremely expensive to mitigate.

Ask for ratings and reviews.

Lastly, it’s important for a business to be found online. You can use the Google Business Profile tool, an easy application that helps customers search online to locate the business’s address, website, phone number, hours, store description, ratings and reviews. All of this information pops up when a customer searches for the business on Google.

Customers can also leave reviews on Google, Yelp, Trustpilot or other review web platforms. It is up to the store owner how they would like to interact with these customers to ensure that they have an enjoyable experience. This could include responding to reviews, answering questions and giving advice, or providing a personalized shopping experience.

While it may appear that creating an e-commerce store requires a significant amount of time and effort, the investment can be well worth it. Store owners can now reach potential customers worldwide, allowing them to grow and expand their customer base in ways that traditional brick-and-mortar stores could not. It is never too late to start building your e-commerce store!

Forbes Business Council is the foremost growth and networking organization for business owners and leaders. Do I qualify?