E-commerce to the rescue
Many marketing departments, marketing agencies, micro-businesses and a few hundred thousand influencers saw their working world come to a screeching halt with the outage experienced in the Facebook ecosystem. Popular apps such as Facebook, including their ads platforms, Instagram and Whatsapp, were unavailable for far too many hours as the engineers resolved a technical issue. And while it made media headlines, the real story revolves around what it means for us.
Far too many businesses, particularly creators and MSMES, rely solely on these larger platforms to connect with their target customers. Many MSMES become so dependent on these platforms instead of using them as leverage for building out their ecommerce ecosystem. It is possible to pin down three common factors:
1. Many MSMES, creatives and influencers are not familiar with ecommerce business models or how to use platforms as strategic leverage in growing their businesses.
2. The challenges faced with the cost and technicality of setting up some platform elements, particularly local payment gateways necessary to convert prospects to customers via their platforms, is often a deterrent.
3. They (the Facebook of the world) make it super easy.
Despite the third reason being significant and valid, ongoing threats like this outage and pending regulatory challenges for these big players should be considered reminders of the true purpose of these platforms — leverage for creating your own. e-commerce is not the way of the future; it is the way of the now. We are in adapt or die mode, and this will only accelerate as the comfort level for doing business online increases. Quite a few business owners have already started to shift towards building their online community by using best practices associated with setting up an e-commerce model that works. This includes:
Getting training: While this may seem like common sense, most business owners skip this crucial step to understanding critical strategies for successfully running a business online.
Understanding your customer journey: While there are some similarities between having a physical storefront and a website, there’s much more to consider, including operating optimally when you have both.
Choosing the right platforms: e-commerce platforms go far beyond social media. When selecting where to invest time and resources online, it’s best to be clear on the organisation’s strategy and how the internet factors into executing this strategy. This basic business principle will approach platform selection much clearer.
Once again, there is an opportunity available within the crisis. The Biztech 2021 conference will feature insights on e-commerce and online business, including networking opportunities with technology solution providers.