When the world of e-commerce started to boom, it was the big businesses around the globe who adopted the wave with open arms. Of course, at this time, these types of companies were realistically the only entities able to afford the type of web presence needed back in the introductory days.
Fast forward to 2017, however, and the world of ecommerce and online competition has shifted dramatically. Prominently, big businesses no longer have the upper hand in the digital sphere.
The turning point for small businesses came with the wave of ecommerce platforms. Each one offered a different experience and niche market. The most popular platform being Groupon. Groupon quickly established itself as a leader in discounted wares, eventually opening up to host entire catalogs and stores like the Groupon Coupons page for Overstock.
By using Groupon’s commerce platform, small businesses were able to put their brands in the faces of new customers which would have previously been out of their reach.
The trick with this method is to offer consumers something they want. In the current consumer/retail market, that something is known as a discount. Whether it comes in the form of a free item or reduced shipping, consumers want something for nothing.
By using the Groupon platform, a small city-based business can see their offers placed in front of thousands of new customers who are traditionally out of their retail zone.
Of course, as any business owner knows, it doesn’t stop when the customer leaves the store. To ensure the customer returns, the retailer needs to maintain their engagement.
While this was traditionally done through outdated mailing lists and catalogs, nowadays, establishing a verified page on a selection of social media platforms is the best way to stay in touch with your customers.
By setting up an online presence through social media, small businesses have the best of both worlds, without the large overhead costs.
The Groupon e-commerce platforms give small businesses the opportunity to compete on a large scale while creating a social-media presence allows small businesses to manage their customer interactions and customer service
Of course, all of these benefits are for naught if the business owner doesn’t adapt their model and pricing to accommodate the shift.
For example, if you run a clothing store then it is unreasonable to raise your prices,only to then lower them for a sale or to offer a discount. Modern consumers are smart and can easily tell when they are being tricked.
From reading just two forms of technology working for small businesses, it’s easy to see that the retail world has changed and big business no longer have the stronghold over the market that they used to. If you are operating a small business, don’t let your customer base run down because you are slow to adapt to new ways of doing business.
Give this article another read and look for suitable platforms for you to shift your business online and benefit from all that technology has to offer.