Online Business Vs Brick And Mortar Business

Building Confidence

Your customers are looking for convenient ways to​ shop,​ but they have to​ feel secure in​ the​ process. Online businesses are responsible for protecting customer privacy. it​ is​ not enough to​ keep your customers safe and secure,​ you​ have to​ constantly communicate it​ to​ them. Posting your Privacy statement on​ your site conveniently is​ a​ good start,​ but there is​ more.

Explain your customers what is​ done to​ keep their information secure. Assure them that the​ information they provide you​ is​ neither shared nor sold with a​ third party. Describe the​ technologies in​ the​ background ensuring customer safety. Give details,​ without getting too technical,​ about how encryption technology works. When you​ put in​ plain words the​ security measures you​ take your customers will appreciate it​ and they are more likely to​ trust you.

Dealing With the​ Extra Space

Now that you​ don’t have to​ physically store every product you​ want to​ sell online,​ you​ can increase your virtual inventory without increasing your rent. you​ can offer a​ larger variety of​ products increasing your customer base. if​ you​ are a​ manufacturer,​ you​ can offer drop shipping your products for other businesses. (Drop shipping is​ the​ concept of​ the​ manufacturer-shipping product directly to​ the​ consumer instead of​ shipping to​ a​ wholesaler.) if​ you​ are a​ retailer,​ you​ can have products drop shipped to​ your customers directly.

Location Location Location

Brick-and-mortal retail is​ all about location. the​ right location can make or​ break your business. the​ same is​ true for online business,​ except it​ is​ virtual location that matters. Your online business relies on​ store visitors just the​ same as​ a​ brick-and-mortar business. Online businesses get most of​ their visitors through the​ search engines such as​ Google,​ Yahoo,​ and MSN. the​ better position you​ have the​ more traffic your site will receive. on​ the​ Internet,​ traffic is​ everything.

Price

The bigger market presents you​ with more opportunities,​ but it​ doesn’t come without a​ price. the​ fierce competition dictates competitive prices. you​ have to​ be able to​ set the​ right price for your product that allots for a​ reasonable profit margin while maintaining your competitive pricing structure. Many people that shop online are more price conscious than brick-and-mortar shoppers.
Online Business Vs Brick And Mortar Business Online Business Vs Brick And Mortar Business Reviewed by Henda Yesti on July 26, 2018 Rating: 5

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