Having an online presence for your shop through setting up a website is not the end. For your shop to experience a dynamic transformation in revenue generation and expense reduction, starting to do business online is not an exception. In this digitally-driven era, having an offline shop without virtual presence is the best plan of moving out of business.
However, you may question why it is necessary to set up an online branch of your shop or why should you move your business to the virtual platform. This article reveals four reasons why every entrepreneur should start doing business online. Here they are:
- a) Best way to offer a lasting solution to virtual customers
In this era, when people see a company name, they first check its availability online to decide whether to buy it or not. As an entrepreneur, you need to grab this opportunity to inform them about the products and services your business is offering. You can achieve this by providing reliable and critical information which will answer most of the prospective questions.
However, the process does not end without giving them a lasting solution. This can only be achieved through sharing links to your products or services. As such, doing business online is the best way to offer your customers a lasting solution to their problems.
- b) Selling to a broad audience at a lower cost
One of the gospels evangelized in the entrepreneurship study or training states that for a business to succeed, it must be able to reach a wider audience at a lower cost. A large audience transforms into a large market for your products which in turn means high sales for your business.
However, achieving this goal in a brick and mortar setting is expensive as you need a lot of investment in marketing and promotion activities. In contrast, when operating an online business, you can reach a wider audience at a lower or even zero expenses. For instance, post a link to your online store on social media is free.
- c) Easy way of understanding your customers’ feelings and experiences
Unlike the offline setting where customers purchases and leave your business premise without giving their feedback, online shops offer you an opportunity to interact with your clients. When doing business online, you have a better chance of requesting for customers feedback. You can do this through offering a rating option on your online store. Whenever a client buys your products or services, they can come back to your store to rate them as well as leave a comment about their experience.
As such, you can tell whether the products or services you are offering in your shop are in line with their expectations or not. This information enhances your decision making as well as fastening your business growth in sales and revenue.
- d) The ever growing economy
Recently information about the downfall of giant brick and mortar stores has filled the internet. At the same capacity, reliable statistics show that e-commerce businesses are experiencing up to 25% profitability growth each year. Also, while as you need a lot of investments and meeting some economic conditions to run a real shop, there are few such requirements for you to start doing business online.
The Internet offers you an opportunity to sell to people located in regions with varying economic areas. As such regardless of the current economic status of your country, your business continues to experience profitability growth while the physical ones are experiencing recurring losses.
As an entrepreneur in the 21st century, doing business online is not optional. Through it, you enjoy an ever growing economy, easy access to customer feedback about your products and services. As well, you can reach a larger market at a lower cost as well as offer practical solutions to your clients.
— Designer Websites (@Designer_Webs) 16 de junio de 2017