With
rapid down fall of world economy and dot-com companies in recent years many brick-and-mortar companies and new start-ups ask themselves: To Be Online or Not to Be Online?Not long time ago, I read a comment of a well-known industry observer, where he stated that companies that are not selling through Internet by 2007 will probably become extinct. As dramatic as it might feel, although exaggerated, but there are some truths in it.
Consider this: Although diminishing due to bad economy, average growth of e-commerce is around 25 % per year. 81% of small businesses that have an online presence during last year’s holiday season reached new customers, leading to an increase in sales and profitability according to a survey conducted by Harris Interactive. Thirty percent of small businesses with a web presence and fewer than 20 employees now generate more than 25% of their revenue online claims Gartner research.
If this does not convince you to take your business online, below I pointed out 10 more reasons why you should start doing business online right now.
1. New economy Internet has created a new economy, which by its explosive growth and sheer size already changed our perception of traditional way of doing business. Companies like Amazon and Ebay have successfully created domination on areas, where just few years ago traditional brick-and-mortar companies were kings. However, in order to be successful on
net, you don’t have to be a giant like them. Many small and mid-size companies managed to build online businesses quite profitably. In fact, studies show small and mid-size companies will be
main growth force of e-commerce in coming years.
2. Internet is a perfect venue for business In order to make a sale you need visitors to come to your shop. On
Internet, your shop could be only a click away from your prospective customers. With proper marketing your Internet storefront can have more buyers than you ever can get in a brick and mortar shop. 3. Company’s image Whether you sell products or services online or not, in today’s world you have to have a corporate presence on
Internet. Otherwise, as you must have noticed that people simply don’t take your business seriously if you tell them that your company does not have a website. A nice corporate site definitely increases
image of a company especially if it has great product or service related content to go with.
4. Provide better customer support
Customer accusation and retention is one of
key factors of business value chain. Thanks to Internet technology, business can provide customer support more effectively. This means better customer satisfaction and increase of profitability.
5. Make information more easily available to customers. Just a couple of years ago, companies used to require days to deliver products or services update information to their customers. Things have changed since then. Today you can add or make any changes to your company and product related content virtually in a matter of couple of hours, publish on your site and share with
whole world. 6. Cut costs New technologies allow you to take virtually any part of your business online, that include supply chain management, billing, shipping, procurement etc. Streamlining these business processes through online systems will allow companies to cut costs significantly in almost every sphere of any business. For example: companies can reduce more than five percents of their maintenance, repair and operation costs by adopting e-business solutions. This five percent savings can turn into 50% of a company’s net profit!