“In the future, 2020 will be remembered as the year when everything changed,”
Due to its immense reach and size, the economy that the Internet has generated has transformed how we view conventional business practises. Due to the Internet’s growth, multinational corporations like Amazon and E-bay now control markets that were previously dominated by conventional brick-and-mortar businesses.
By using the Internet to do business, even small- and mid-sized firms are generating amazing profits. According to a poll conducted by the renowned market research company Harris Interactive, 81% of small businesses with an online presence during the holiday season attracted new consumers, increasing their sales and profitability. Similar findings were revealed in a different study conducted by Gartner research, which indicated that 30% of small businesses with a web presence and fewer than 20 employees produced more than 25% of their sales online.
Why you should give online business a serious look before investing?
If these figures aren’t convincing enough, here are a few additional Motives why, if you haven’t already, you should seriously consider starting an internet business.
You obtain simplified corporate branding
People simply don’t take a firm or corporation seriously in today’s digital age if it doesn’t have a website. Before engaging with a business, people frequently scan its online product and service offers as well as associated articles to form rapid opinions about it. Whether you do business online or not, your firm needs to have a presence on the web. The image and brand of your organisation can be streamlined and strengthened by making an investment in an online presence.
Your startup costs are low.
Online business setup used to be quite expensive for business owners. But because to the development of new technologies, going online is now not only less expensive but also getting simpler to do. You can create a website using templates for free using free website-building tools and open source Content Management Systems like Drupal and WordPress. You may have a fully functional, self-hosted corporate site with all e-commerce features for less than $10 per month.
This essentially equalises the playing field for small firms to compete with large enterprises. Now it’s up to you to take action, benefit from the minimal startup expenses, and go online.
Your investment risk is lower.
Due to the minimal startup costs, online businesses tend to be less risky than their physical counterparts. The agility of online firms is another factor contributing to their low risk. A losing firm can quickly become profitable with the appropriate investment in web marketing, Search Engine Optimization (SEO), and other related strategies.
In addition to developing and marketing your own items, there are numerous more original ways to earn money from your website, such as affiliate marketing. This implies new opportunities for online income generation.
You have cut operating and overhead expenses.
Online businesses typically don’t have a physical presence, so maintaining them is easier. This is especially true when it comes to situations when there are no expenditures for actual goods, distribution, rent, or other expenses. For instance, in the retail sector, a store owner can browse and buy products for resale from suppliers all over the world from the convenience of his computer workstation. That certainly is convenient.
Your company can cut more than 5% of your travel, maintenance, repair, and operation expenditures by just using an e-business solution. This 5% cost savings could result in a 50% increase in your company’s net profit!
You can conduct business year-round, around-the-clock.
A big benefit of starting an online business is that you may conduct business around-the-clock, 365 days a year. You might, for instance, create a 24/7 online store where you could earn money even when you were sleeping.
Automatic online systems can ensure that sales continue even after your business closes for the day. Automatic sales during off-peak times may occasionally exceed regular sales during peak times.
You’ve got more adaptability
You can work from home if you need to because of the Internet. In actuality, as long as you have a dependable Internet connection, you may work from almost anywhere in the globe. Another significant draw for many entrepreneurs and business owners is this extraordinary flexibility. It implies that you can pursue other business opportunities or spend more time with your family while still operating a successful online business.
You have access to a worldwide clientele
When you have an internet business, you suddenly go global. Because it only takes a few mouse clicks for people all over the world to learn about and acquire your goods and services, this is true. You can also have access to sizable audiences on dozens of online e-marketplaces for a small price. AMR Research has previously said that online B2B marketplaces facilitate the flow of more than 1.3 trillion dollars’ worth of products and services. You simply shouldn’t pass on this expanding chunk of the pie.
You have more cutting-edge marketing resources.
One of the most crucial aspects of any organisation is marketing. The enormous variety of marketing channels available to you is what makes online marketing more alluring. Your target profile can be drawn in with the help of blogs, podcasts, videos, social media, email campaigns, white papers, eBooks, and a range of other resources. Although online marketing is becoming more expensive, it is much simpler and more sophisticated to manage and measure your return on investment.
You may track not just your clients but also your business competitors in real time by utilising technologies like Google Analytics and score data from online marketing businesses. This gives you the ability to quickly adapt and alter your approach and strategies as necessary. For instance, you can change your website to enhance conversion if your conversion rates are low.
Additionally, it’s never been simpler to target particular groups, especially with the expansion of social media advertising. Now that you have a clear definition of the audience you want to reach, you can start marketing to those customers who are most likely to be interested in your goods or services.
You could provide better customer service and feedback.
Online businesses can now convey information more effectively and with better customer service thanks to advancements in Internet technology. A few years ago, businesses used to need days to provide their customers information about new products or services. Since then, things have changed. If your business is online nowadays, you may update the information about your company. Also your products in a matter of minutes, post it on your website, and share it with clients on social media.
Online, you may converse with customers about your goods or services in real time. This translates to better consumer satisfaction and engagement, which will ultimately lead to higher corporate profitability.
Your networking opportunities have improved.
Running a business can be a very isolating experience. This is due to the fact that business owners work most of the time at their workplaces. In the past, the only way for a business owner to network and get knowledge from other business owners was to join the neighbourhood chamber of commerce. The Internet has thankfully created a global community of peers who can relate. Especially to the issues, pressures, and exhilaration of starting a business and are just a click away. To network, you no longer need to be a member of your community’s chamber of commerce.
Let’s talk about the value of having a website right now!
Motive #1: Your clients anticipate it
Continuing from the previous point, your tech-savvy clients anticipate you to have a website where they can learn more about your company. Your website may help you create business, improve brand memory, foster goodwill among clients. Also convey compelling marketing messages. Consider it this way: Your website broadcasts your marketing message every minute of every day, 365 days a year! Aside from e-commerce sites, the majority of professional websites are informational and aim to ease users’ problems.
#2: Provides Social Proof
Most of the time, customer behaviour is influenced by what other people are saying about your company. No matter how highly rated your brand is on review sites like FourSquare or Yelp, consumers still expect to visit your website to learn more about it. Included customer testimonials on your website is a terrific method to impress visitors and provide social proof because potential customers are already searching for you online.
Motive #3. In charge of the narrative
Although you have little control over what others think of you, you may affect how your brand is seen by sharing your personal narrative online. When it comes to assisting brands in communicating their message, vision, and mission, a website is a considerably more effective method than print advertisements or brochures sent by snail mail. There are 63,000 queries made on Google per second, or 5.6 billion every day, according to SEOTribunal. Consider the possibility that someone is searching for your particular service online right now given the amount of searches.
Motive #4: To increase ROI
In the age of digital transformation, building a website with free technologies like WordPress.com and Elementor doesn’t cost much money but offers greater value. You can easily reach thousands more potential customers with a website that is search engine optimised. It might assist you in promoting your services or products to a larger target market. Regardless of the field you work in, the website’s content has an impact on purchasing choices and business dealings.
Motive #5: Website Increases Credibility of Company
It’s time to make an investment in a professional website if you want to demonstrate to the world that your company takes itself seriously. Without a website, you risk losing trust in a time when more than 50% of smartphone users find new businesses or products while conducting searches on those devices. A research found that 75% of online users agreed to evaluate a company’s legitimacy based on the layout of its website. In the end, customers are more likely to interact with a business they can trust. And the website is the first step in developing that bond.
Motive #6: Engage in More Positive Dialogue
Your website is your platform for responding to any fundamental inquiries potential clients might have about your company and brand. Particularly true for B2B marketing firms. People who visit your website are looking for answers to simple queries like what you do, what products/solutions you offer, where you are located, how to contact you, etc. Once they are pleased with everything, they choose whether or not to follow up. Just keep in mind that modern consumers expect instant satisfaction, so keep your explanations brief and concise.
Motive #7: Face Off Against Other Industry Giants
Did you know that you may fairly compete with the leaders in your business if you have a website? When a website is developed with optimization, it can rank higher and appear at the appropriate time. The consumer journey, which often starts with research, suggestions, and reviews, can be influenced by bidding for the proper keywords and increased website traffic.
Motive #8: declining social media reach
Think again if you believe that having a social media presence would enough to draw in new clients. Because every other company has a Facebook page, having one is insufficient. According to Facebook, users spent 50 million fewer hours on the social media platform in 2018 than they did in 2017. So instead of solely relying on social media networks, many businesses are now developing their own websites. Although social media networks may help businesses grow, relying only on them can be a costly mistake in the long run.
Motive #9: Increase Your Hours of Work
Having a website means that users may access your content whenever they choose, day or night. So you can say goodbye to that “closed for business” sign because whether someone visits your website during the day or at midnight, you’re always connecting with them in some way. Being reachable at all times helps with marketing and significantly boosts sales, which is especially true for e-commerce businesses. It’s also a step towards providing good customer service and developing relationships, particularly if you have chatbots powered by AI set up on your website and ready to address clients’ basic issues when they need it most.
Motive #10. Present Your Offers
The importance of a website as the first point of contact between your target market and your brand cannot be overstated. You have complete control over the positioning of your company. Additionally, you can give downloadable PDF instructions or brief video demonstrations in addition to simply displaying your products’ characteristics. You can also draw attention to your accolades, positive reviews, and all the characteristics that can make your visitors’ problems go away. This lengthens their typical visit to your website and can affect whether or not they decide to get in touch with you.
The Price of Being Left behind Is A Lot More Than Having a Website
To increase sales, improve the bottom line, and expand your firm, you need a brand-differentiating, expertly designed business website. You get an opportunity to tell the story of your brand in front of the appropriate target market. A basic website can be had for a few cents and, in the long term, can yield enormous benefits.
Therefore, ask why not? rather than why your company needs a website.