Similar to this, a study conducted by Gartner Research showed that 30% of small-sized businesses that have websites and less than 20 employees earn more than 25% of their revenues online. If this isn’t convincing enough, here are some more reasons you should seriously think about investing in an online-based business, in case you haven’t done so yet.
1. The branding of your company is streamlined
In the age of digital, the public doesn’t consider an organization or business seriously if they don’t have an online presence. Many people will quickly browse the product or service offerings, as well as related content, to evaluate the company before engaging with it. That’s why you need to be present on the Internet, regardless of whether you’re conducting business online or offline. An investment in a business’s online presence is a fantastic option to simplify and improve the image of your business and brand.
2. There are low costs for starting up
At one time, establishing online businesses could cost business owners a small sum. Nowadays, however, the process of getting online is not just affordable, but it is becoming simpler to achieve thanks to advancements in technology. Website-building tools for free and open-source Content Management Systems like Drupal and WordPress permit you to create websites for free using templates. For less than 10 dollars per month, it is possible to get an all-inclusive, self-hosted corporate website that has all e-commerce capabilities already in place.
This means that the field is now level enough for small companies to compete with large corporations. Now is the time to benefit from the low cost of starting, and begin to get your business online.
3. There is less risk associated with the investment
Online businesses generally are less risky than brick-and-mortar companies because the process of setting up a business doesn’t need to be expensive. Another reason why online businesses are less risky is due to their scalability. If you make the right investments in the areas of online marketing, search engine optimization (SEO), and other such things, there is a way to transform an unprofitable business into a successful one in a short period of time.
There are also a multitude of ways to earn money through your website apart from selling and creating items you have created, like affiliate marketing. This is a new way to generate income online.
4. You’ve reduced overheads and operating costs.
Since they don’t have a physical place of business, they need less effort to maintain. This is especially the case when physical items rent, distribution, and other costs aren’t there. In the retail business such as retail an owner of a store can shop and buy goods for resales from suppliers around the world without ever leaving at the ease of his workstation. How convenient is that?
If you simply implement an online-based business solution, your business will be able to cut more than 5 percent of your travel and repair, maintenance and operational expenses. Savings of 5 per cent can translate into 50 % of your company’s net profits!
5. You are able to conduct business at all hours of the day all year long
Another benefit of investing in a business online is that it is possible for you to conduct business all throughout the year. For instance, you can create a virtual shop that is never closed and you’ll be able to earn money while sleeping.
Even if your business is closed for the daytime, automatic online systems will ensure that the sales continue to flow. In some instances, automatic sales in off-hours could be greater than the regular sales during working hours.
6. You’ve increased the flexibility
With the Internet If you’re looking to work at home, you are able to. In reality, you are able to complete your work virtually any location in the world provided you have an Internet connection. This amazing flexibility is a big draw for many business owners and entrepreneurs. This means that you can operate a successful online business, while exploring different ventures or having more fun with family.
7. You can access an international customer base
When you establish an online business it is easy to become an international player. This is because people from all across the globe can find out about your offerings and buy them and services with one click on the keyboard. At a minimal cost you’ll also gain access to huge audiences across hundreds of online marketplaces online. AMR Research has reported in the past that over 1.3 trillion dollars of products and services are traded on B2B marketplaces. It is a good idea not to miss this expanding piece of pie.
8. You can use more sophisticated marketing tools
Marketing is among the most crucial elements of every business. What makes online marketing attractive is the sheer number of channels that you can benefit from. Blogs, podcasts and videos and email campaigns, social media whitepapers, eBooks, and a range of other resources are all able to reach your audience. Although it is true that marketing on the Internet is getting more costly but tracking and measuring your ROI is far more simple and sophisticated.
Utilizing tools such as Google Analytics and scoring data from online marketing firms like Mos. You can keep track of not only your customers as well as your business competitors in real-time. This allows you to adjust quickly and modify your strategy and tactics as required. If your conversion rates aren’t high For example you could make adjustments to your site to improve conversion.
Furthermore, focusing on particular demographics has never been more simple, particularly given the growth of social media ads. It is now possible to determine the audience you wish to target with precision and begin to market to the people that are likely to want your goods or services.
9. You can offer more customer feedback and provide better support
The advancements in Internet technology mean that businesses online can offer better customer support and provide information faster. In the past, a few years ago, businesses were able to take weeks to provide updates on their products or services in order to inform their customers. The times have changed since then. Nowadays, if your company operates online, you are able to modify or add information to your information about your company or product description in minutes, post it on your website, and distribute it to customers on social media.
You can also interact with your customers live about your products and services on the internet. This will result in increased satisfaction and engagement with customers and, ultimately, increased profits for your business.
10. You’ve improved your networking possibilities
It can be lonely operating your own business. Business owners are often spending the majority of their time at their desks working. The past was when business owners’ only option was joining an area chamber of commerce to connect and gain knowledge from other entrepreneurs. Today, the Internet has created a worldwide network of business professionals just an easy click away that can connect to the challenges stress, pressures, and joy of managing an enterprise. There is no need to join an organization like a chamber of commerce to connect with others.
Log on to the blogosphere, and then join relevant chat rooms on the internet as well as social media groups and forums to network with other investors, business owners and entrepreneurs. Nowadays, anyone living in Silicon Valley can exchange ideas about marketing and promotional strategies with someone who is in the same industry located within Jo’burg, South Africa. It’s now easier than ever before to connect with the top experts and famous personalities in your area and collaborate with them on the internet. It’s definitely an exciting time to be online.
