When is the right time to make the move from a market-based business to an e-commerce based business?
There is something really exciting about market stalls. You get to have a pop-up shop that you run once or twice a week and show your wares, and it is great to actually see people buying your product. There is nothing that beats seeing that look on people’s faces when they’re super excited about something that you’ve created, something that you’ve made, or something you’ve sourced and are selling to them because you loved the product so much.
Markets are low risk, high return and a great place to test the market for your new venture. People who sell at markets love the thrill of being able to produce something that other people love, it’s such an important part of the entrepreneurial journey. But, how do you know when it is time to spread your wings? Today I’m going to look at a few things that might indicate that it’s time to move your market-based business onto a website. There is a caveat for this; I’m not saying you should abandon your market stall. Quite to the contrary. I think that e-commerce sites and market stalls go really well together and can help transition your business from something that is a micro business into something that is a full-time income.
So the questions I have for you are these:
- Do you have a loyal band of customers – people who see you where you at the markets and come to buy your products?
- Do you have people who tell their friends about your products?
- Do you have repeat customers? Do you have people that come back week after week or trying to get in touch with you in between markets or when they can’t make a market to buy your product?
- Have you started a Facebook page and do you find people mentioning your Facebook page to other people? Are you getting new likes and new comments on your Facebook page without you having to do too much?
- Are you getting great feedback on your product? Do people love it?
- And the big question, are you getting sick of working every weekend?
If you are saying yes to more than one of these questions, then perhaps it is time to start transitioning to an e-commerce site.
The benefits of coming over to an e-commerce site are that you can transition the current customers that you have and get them ready to start purchasing online. One of the benefits of purchasing online is that it’s easy to share your purchases with your online community of friends, which tends to be a little more visible than the people you see face to face. You can also start doing promotions where people can share your page or your site and potentially get a discount to entice them to spend more. There are plenty of advantages to moving across to an e-commerce site. Have a look through the other blogs on this site to see what we recommend as ideas to get you started in e-commerce. But the big thing is, if you are gig, then transitioning from a market-based business to an e-commerce website is the way to go.
If you need help, want to have a chat, or just want to ask a few questions, then get in touch – that is what we’re here for. Send us an email at [email protected] and let us see if we can help you get started with a Small Site.