In 2019, retail e-commerce sales worldwide totaled just over $3 billion. Just two years later, in 2021, total sales were at almost $5 billion. By that point, more than 2 billion people per year were purchasing goods and services online.
Given these statistics, the potential of selling products online is clear. Transitioning to an online setup could be the best step you can take to supercharge your business efficiency, resulting in a higher reach, stronger brand engagement and ultimately, greater profits.
Let’s take a look at how selling products online makes your business more efficient, and effective! In particular, we’ll examine how selling products online improves your brand visibility and reach; allows for better integration between marketing and selling; and lets you scale your business more easily and affordably.
Greater Visibility and Higher Reach
Using an online business model to sell your products can increase your business’ effectiveness when combined with effective marketing. Generate more traffic for your listings, reach more potential buyers, and get more people viewing and talking about your products. This ultimately results in greater brand engagement and more sales for your business.
More Efficient Integration Between Marketing and Selling
When you sell your products online, the transition from marketing to selling is more seamless and flexible, which ultimately translates to better sales.
Why is this the case?
In particular, it is much easier for an online business to optimise its marketing efforts in real-time, because trends can be analysed and changes to advertising made relatively quickly.
A brick-and-mortar establishment selling via traditional channels may take much longer to measure impact or improve running campaigns comparatively since online channels can be easily accessed and measured. This means online channels allow for more accurate decision making that’s based on actual data.
Less Resource-Intensive Scaling
With traditional businesses, growth might mean adding more retail floor space, which would of course entail significant costs. For online businesses however, expansion is made easier due to the lower costs of managing inventory as opposed to expanding your retail floor space.
Online Marketing Channels Utilise Scalable Advertising Budgets
Most digital advertising platforms come with scalable budgets, which means you won’t have to invest a significant amount to market your products, unlike traditional platforms. Combined with the right online ad medium, this will allow you to maximise the effectiveness and ROI of your advertisements.
Take CarouBiz’s Video Listings feature for instance, advertisers find themselves having 50% more chats and 3x the number of clicks versus single image listings, an effective method to stand out against competitors on Carousell.
Get Your Business Set Up to Sell Products Online
At Carousell, we’ve made it easy to sell products online. We offer a variety of advertising tools and resources to help businesses grow to their full potential. With over half a million users daily, you can launch your listings to the top of the marketplace, or select your target audience or increase awareness of your product range.
We’ve also introduced protections to ensure payments are safe, easy and secure. Our platform is integrated with ad functionality, payment protection, and a host of cost-effective marketing tools to help businesses succeed.