Irrespective of the number of ways of doing businesses in today’s economy, a business you do online has many advantages which you need to know.
You need to know what are the benefits of moving your business online?
Or better put,
Why should your business be online?
Bill Gates, in a quote, makes a stern warning while speaking on the benefits of moving your business online.
What does that mean?
It means the old marketing system is phasing out. And it’s high time every business owner take his business online.
The time you would pay for radio jingles and sit down in your store, legs crossed and waiting for customers to come, had gone. Most of the traditional marketing strategies were found to be mere media noises.
Customers now want to reach you on the internet and learn from what others are saying about your products and services before they can trust you. They want to place an order online and have their items shipped to their doorsteps.
But because your business doesn’t have an online presence, you can’t take part in this. Consequently, your customers would have no choice than to look elsewhere for a solution.
In the video below, Olawunmi Sanusi gives three vital tips on why moving your business online can be a lot of benefits.
What You Will Learn in this Guide
Benefits of moving your business online
Without much ado, these are just few of the benefits you gain from moving your brick-and-mortar business online.
One of the benefits of moving your business online is for cost reduction.
Taking your business online can drastically reduce the costs and risks of doing the business. For example, if you have an e-commerce website, you won’t have much to spend on distributing your products and hiring sales representatives.
Since your e-commerce channel can serve as your storefront, you need not to worry yourself looking for money to rent a store.
With the use of search engines, social media and other similar digital technology available on the internet, you need not to recruit and pay advertisers, sales representatives and distributors.
Despite the fact that, these professional services incur a lot of cost, you can’t avoid them if you run your business offline. Whether you make profit or not, you must pay for rent, pay taxes such as business permit, amenity charges and so on.
Taking your business online will end most of your overhead costs. No more owning or renting a warehouse. While your website serves as your warehouse. From there, your customers can buy and pay you without any stress.
Moving your business online can make you leverage e-commerce, automate sales and start making money working from home. As a result of this, your transactions will be more convenient, faster and safer.
After taking your business online, you can attend to a million of customers with just a push on your computer keyboard. You don’t need to see each of them face-to-face before you can settle a deal.
The difference is that a single marketing effort you make online can serve your entire customer base. No need to repeat yourself over and over.
Converting your brick-and-mortar business to an online business doesn’t mean your business can thrive without marketing efforts.
Your customers want to know how is your business relevant to them and you need to adopt digital marketing strategies to constantly reach out to them.
You can snap your product and share the pictures on social media to engage thousands of customers at a go.
You can also sell thousands of products with a single blog post. And that can be at the convenience of your smartphone.
If it were to be an offline business, you would have to first bring the product to each of the customers. If they weren’t going to buy at the spot, you would go back and book another appointment with each of them.
That’s the stress you don’t have to go through after moving your business online.
An offline business is stationed to a particular location, while patronage depends on a few particular set of people whom others are competing to share with you within the location.
You may need to shut down your business temporarily or permanently if a disaster or crisis looms in that area.
But if you run your business online, you don’t need to relocate or set an office everywhere in order to annex your tentacles or to avoid a social crisis within your area. The more annexes, the more employees, costs, risks and problems you have.
The problem of location can be solved only when you give your business an online presence.[Tweet “After moving your business online, you have the privilege to switch between locations and target different markets or customers at any given time.”]
To do your business offline and succeed, you would need to rely majorly on television and print media, which is not so after taking your business online.
When your business is online, all you need includes search engine optimization (SEO), search engine marketing (SEM), content marketing, social media marketing (SMM) and so on.
The internet has established leads you can easily tap from. Your customers are already on the internet and in dire need of quality products and services.
They are on social media platforms and you can leverage the audience base of each platform to source, reach, engage and convert customers.
Assuming you want to market your business on Facebook, all you have to do is to use Facebook Audience Insights tool. This will help you target and convert the right audience.
To take fully take advantage of moving your business online, you need to put your attention on value creation, then have your business present on all major search engines and social media platforms.
These are the places consumers go to find solutions nowadays.
Search engine and social media algorithms work in a way to help users find the best products and services online.
If your own products or services have what the customers are looking for, then search engines will lead and compel them to buy from you.
For many economic reasons, hardly can a business survive nowadays without having an online presence. We have discussed how the internet helps businesses reduce costs, improve sales and expand reach.
Having realized some of the key benefits of moving your business online, I bet you don’t want to wait any longer. Most startups go to Facebook, Instagram, YouTube to open a business page and promote their businesses. You can do the same and even have a website or blog.
In a nutshell, taking your business online can make you remain in business come rain, come sunshine.