Big news: e-commerce platforms are not for big businesses anymore.
In fact, small and medium enterprises (SME) can benefit much more from e-commerce platforms than big businesses, primarily because SME are agiler and less risk-averse than larger companies, which gives them more room to grow and experiment.
In the hire and rental business, e-commerce has become the new normal, especially because it offers clients and owners an easy, cost-effective way to connect and acquire products and services.
Besides, e-commerce sales are growing year on year by 10 to 19%, and since most people today prefer buying online, it’s a right moment to start thinking of building your online presence and start a hire and rental e-commerce.
So, let’s get started! Today, we show you 5 benefits of e-commerce for small and medium hire and rental.
E-Commerce Helps Hire And Rental Companies Cut Costs
Let’s face it, brick and mortar stores can cost a fortune, and you can put that money to better use. Hire and rental companies can use e-commerce platforms to cut the costs associated with brick and mortar stores, specifically these five budget-eroding expenses:
- Rent
- Salaries
- Bills
- Taxes
- Maintenance
An e-commerce rental business you can decrease the cost of managing your inventory; even better, you can automate your inventory management using a cloud-based inventory management system.
E-Commerce Platforms Make The Hire And Rental Business More Profitable
For starters, if you have a fully optimized e-commerce platform, more people can find you. In the hire and rental business, this means more potential customers with less effort.
For example, these are some of the ways e-commerce make your hire and rental company more profitable
- Attract people without having a physical location
- Accept many different kinds of payment and currencies
- Send products to other parts of the globe
E-Commerce Enables Effective Marketing For Hire and Rental Companies
We already mentioned that e-commerce could make the hire and rental business easy, right?
But that’s not the only thing; it can also make it more effective.
An e-commerce platform enables you to implement fast, economical marketing strategies for you to increase your sales and brand awareness.
For instance, you can use extremely targeted campaigns using different channels such as:
- Social Media Advertising
- Email Marketing
- Google AdWords
- Pay-Per-Click Advertisement
These four digital marketing channels can bring more customers to your “door” and, when implemented well, can help you gain a significant competitive advantage.
E-Commerce Platforms Enable Quick And Actionable Feedback
In e-commerce –just like in a regular shop– feedback is everything. But on the internet, feedback can be more comfortable to get, which is an excellent opportunity for hire and rental companies that wish to stay agile and current in their niches.
For instance, think of these 3 simple ways to ask for feedback:
- Surveys
- Reviews
- Public Conversations
Customer feedback gives you valuable insights to improve your business, products, and overall experience. And, to be honest, the internet is a great tool to ask people for feedback.
Final Thoughts
By now, you probably know that e-commerce can be a great tool to increase your profits and get more customers. What’s more, you don’t even have to close your physical shop to start e-commerce.
In fact, you can combine both and build a fantastic business.
Here’s a summary of the tips we gave you in this post:
- E-Commerce can help you cut costs
- Hire, and rental companies can benefit from cloud-based inventory management systems
- Online marketing is a really cost-effective tool
- Collecting feedback from your clients can help your business grow