Trading electronically allows businesses of all sizes to streamline services, develop new markets and create innovative business opportunities.

The rewards of e-commerce can be substantial if you get the mix right, and as these 6 C’s of effective e-commerce highlight, there are many advantages in hopping on the e-commerce bandwagon.

• Capability
• Competitive Advantage
• Cost
• Communications
• Control
• Customer Service

Let’s consider each one in more detail and you’ll see what I mean.

Capability - By conducting business online, you’ve suddenly exposed yourself to a much larger marketplace where your business is open and accessible 24/7.  It can literally work for you while you sleep, without the associated staffing demands of a bricks ‘n’ mortar store.  And you’re now in a position to service clients you would otherwise never have been able to reach.

Competitive Advantage - In the e-commerce world, company size is no guarantee of advantage – your small business is now on a level playing field with some of the world’s largest.  You’ve extended your sales potential big time, and distance and geography is no barrier to purchase.  Plus, the Internet gives you a window on the world when it comes to monitoring competition and industry trends.

Cost - An e-commerce website can make a significant difference to your bottom line because online businesses have significantly reduced overheads compared with their real world counterparts.  Not to mention the cost savings in marketing and communications, as well as the potential to realise significant economies of scale through increased sales volume to new markets.

Communications - Communication represents one of the biggest expenses in time and dollars for most business operators – but with e-commerce communications allow you to work faster and in new ways.  You can streamline communication to suppliers and customers outside your locality or country, which translates to tangible benefits like lower phone costs and less paperwork.

Control - E-commerce gives you greater flexibility, increased productivity and control over your business.  You have improved control over inventory and order processing, information can be supplied to customers within seconds, you can quickly update pricing and stock data as things change, and best of all transactions can be processed faster to expedite billing.

Customer Service - An e-commerce site spells service improvements for your customers and that means increased customer satisfaction.  What’s not to like about added convenience, round-the-clock access to your store, ease of purchasing, and the latest information on new product lines in an instant?  And for you the owner, it’s the best ever opportunity for data gathering, tracking and targeting.

Not every business lends itself to online trading, but with the right business a robust e-commerce site can add a whole new dimension to your business image, growth potential and profitability.