Starting a business, any business, of any size, isn’t easy. Keeping it going is even harder – especially when you realise that 50% of start-ups seldom make it past the first two years of existence, while 70% to 80% of SMMEs in South Africa reportedly fail in the first five.
The reasons for failure are many, but it seems as though most include an inability to reach the right market, poor stock management skills and/or a lack of funding. And most of these reasons can be remedied with a single strategy: e-commerce. Adopting an e-commerce strategy involves a lot of variables and can be daunting – but it really doesn’t have to be, if you choose the right solution.
Open those virtual doors ASAP
After a massive increase in 2020, an estimated 40% of South Africans are expected to use e-commerce platforms this year, with that number growing to more than half of the population by 2025. Honestly, whether you’re struggling or not – you can’t afford not to offer customers the option of an online store. Better still, online shopping isn’t limited by geography.
An online store will open your customer base up globally, allowing you to reach customers all over the world with a single address. Not only will you increase your reach, but you’ll be able to make your products available for purchase 24/7, every day of the year while lowering your operational costs, as you won’t have to worry about paying staff for overtime or even shop rental for a physical store.
The easier, more readily available you make your offering to your customers, the better your chances of increasing sales. Allowing them to not only find your product quickly and easily, but to purchase it and receive it without ever leaving home is basically the gold standard of convenience – an invaluable commodity in the digital age.
By paying attention to which of your offerings resonate most with customers and what their buying habits are, you’ll also be better positioned to take your business further by analysing what’s working, what’s not and adjusting accordingly. A successful business is an agile one.
The beauty of QuickStore
Designed to be cost-effective and rapidly deployable, QuickStore by Braintree offers all the above and more. Not only will you have access to your own domain as well as 30 pre-defined design templates to choose from, with QuickStore you’ll be able to get your e-commerce platform up and running in as little as 24 hours. QuickStore also includes digital marketing solutions to help create even greater brand awareness and customer loyalty with newsletters, product reviews, gift cards and points-based rewards systems.
Most importantly, QuickStore allows you to keep on top of the tiresome, but necessary, elements of all successful businesses like stock and refund/returns management. With over 50 payment processing methods to choose from, you’ll also be able to select the best options to suit your budget without having to worry about the fees involved increasing costs and eating into your bottom line.
Easy-to-use and scalable with 99.99% uptime thanks to Microsoft Azure, QuickStore not only offers one of the best ways to turn your business around now, it’ll help it stay agile enough to survive the future too.