Having an online presence for your business sure does bring the profit. While this is true in most cases, there are still those companies or firms who reject the idea of expanding their turfs into online business. If you are one of these reluctant individuals, listen to what I will say: you are missing a lot.
I know that most of you are aspiring entrepreneurs who want to be successful in their respective fields. And I am quite sure also that you are seeking ways to make the internet your ally.
There are several benefits of starting an online business. And the idea does not revolve only on starting a new business. It could also mean transferring your business to the internet. Or make an extension of your company on the web.
For me, if you own a business today, having an online presence is already a necessity. On 2007, a known industry analyst told that those companies who will not use the internet would cease to exist. Sounds scary, huh. But looking at our situation right now, his prediction is slowly becoming a reality.
In the recent years, there is a surge of growth in the ecommerce industry. Annually, the increase goes as high as 25%. According to the survey by the Harris Interactive last year, 81% of those small companies that have a definite presence on the internet got new customers before the holiday season ended. This means that those companies got extra profit and competition lead.
Similarly, the Gartner Research even found out that 25% of the revenues of small business came from their online presence, given that they are really online.
If these findings still don’t compel you, then these seven benefits of starting an online business will do the job!
1. Greater Customer Reach
One of the main struggles of businesses is how to reach potential customers. There are a lot of ways for you to be heard such as appearing in newspapers and television. But can you really afford these? If you are not a big player yet, doing this stuff can cost you more than the entire capital you poured in your business.
Luckily, the internet is a second home for most of us today. You may not have the physical means to go to your customers houses, but with the use of the internet, you can appeal to all of us. Being online gives you the chance to be seen by the people you want to see you.
Moreover, your customer base has no limits. People around the world can find you and your company. And that’s the beauty of the internet. It removes the physical and technical limitations of marketing.
2. Your Store Will Never Close
When it comes to operation, the closing time of your business somehow delimits your chance to earn more. After all, you have to be considerate also. You and your crew need to rest. And it is part of the maintenance procedures never to exhaust your resources. Besides, you can reduce your bills if you limit your operation time.
However, on the internet, your business can never close. And it will never damage you or your resources. You don’t need to have someone to watch over your online store. It is just there. Since the internet runs for 24/7, closing can only happen if there is a scheduled maintenance. Aside from that, nothing can cease your store!
3. Unlimited Networking Opportunities
During the old times, you have to join several stiff chambers of commerce and other business clubs to get a link with other businesspeople. These organizations will entail you some fees before you can join them.
Although the intention of these business groups is good, we can still see that they still have limitations. Just take the cue that they are just local. If you need to expand, you need to travel one place to another to find prospective business partners. And this is a very tedious thing to do.
But with the internet, this arduous task is now gone. Several messaging platforms such as Skype lets you communicate with other entrepreneurs around the world. You can even join different online business forums to get the latest trends in the community.
4. Cost Efficiency
When it comes to cost, you can save more if you do your business on the internet than the outside world. Maintaining and online shop or retail center are far cheaper than running a physical business. Aside from that, advertisements done online are also less inexpensive compared to the conventional medium. In fact, you can do it for free on various social media sites.
Also, business transactions can be done without you leaving your computer desk. You don’t need to spend for expensive travels just to browse for products that you want to sell. All the physical boundaries in conducting business are all curtailed by the internet. Perhaps, this is one of the best benefits you can get from doing business online.
5. Easy To Get Noticed
In any field of business, the competition is always fierce. If you are just a starting business, competing against the giants will always be daunting. You will find trouble in getting customers. After all, who would buy or avail service from an anonymous company?
Fortunately, online business solved this problem already. You don’t have to spend any more on different marketing stunts just for your brand to get a name. You can just utilize several techniques such as SEO and social media marketing to create leverage for your business. They can be tricky at the start. But with little effort and investment, you can pull all of these successfully.
You may never outrank the giants, but you can guarantee yourself that you are already in the race.
6. Availability of Customer Support
Many thought that customer support would be gone once you import your business online. That’s a fallacy that I want to end. In fact, online customer support is much better than the traditional ones because they respond faster with satisfactory answers.
In doing any business, having a customer support system lets your company have an emphatic appeal. When you start caring for the welfare of your clients, then will likely grow loyalty to your brand. And this means steady profit and potential growth of audience.
7. Easy Access to Information
Usually, if a business wants to inform the people about their new product or service, they would resort to giving flyers and door-to-door delivery techniques. If a company has enough resources, they can do it via the television, newspaper, or radio? But are these mediums really effective?
The advent of the digital age will answer it as no. Information can be accessed nowadays with just one click. You can spread different contents without doing any of these difficult, expensive marketing stunts. And for an online business, this is good news.
Having the heart to start a business is already a commendable act. However, many are still not brave to bring their businesses into the online world. I am hoping that the following advantages that I mentioned will somehow inspire you to take the game to the next level. After all, taking risk is an ever-looming factor in doing business. If you can conquer the odds in doing online business, expect that significant profit and opportunities will knock on your door!
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