7 benifits of online business
A large org with a big office and a lot of employees?
Yes, that is what business in the 1960s or 70s would look like.But the scenerio has changed entirely today! The computer revolution and the subsequent internet boom have led us from the industrial age to this digital era. so the rules of the 60s, are not going to much work in our time. you don’t require giant office space or fancy shop to start your business now.
You just need to take your business online You will be surprised how a multi million dollar business can be operated even from your home. Hey, its not crazy! it’s quite normal these days,
So here are the 7 benefits if you start your business online.
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- Sell across the globe: To sell your products or services you need a market first. Without a market even the best product, services remain unsold. A bigger market helps your business achieve higher sales. One of the biggest reason why you need online business is that it gives you a global market. Your local product may have great demand in some other parts of the world. Isn’t it? Moreover these days people purchase more from the online portals, instead of buying from the physical store.Researchers says, 87% of consumers search for products or services online.
- Minimal Investment: traditional business require a huge amount of initial investment most if the time you need a physical space like an office or a shop to start your business, the maintenance and rent of this physical space or increase your operational cost, however, to start an online business initial investment and maintenance cost are very less compared to the traditional business model. The key factor of online business is the ability to operate your business without physical spaces like office or shop etc. and this reduces the monetary investment in your business a lot
- High Profitability: Wide market reach will surely generate higher sales and higher profitability for your online business. Along with that, there are some other benefits that you can enjoy through online business. Like selling your local products or services in your locality may face huge competiton, when you go online you may find better business from the other parts of the world, where you can keep a handsome profit margin. Moreover , minimum investment and operational cost helps you to earn better profit.
- Sell while you sleep: in a business you only make revenue when your business is open to your customers. Unlike local businesses an online business has no limitation of operating hours. Customers can visit and purchase from your online store even while you are asleep. It keeps on working even when you are on vacation you don’t have to be available all the time, your business works on its own, so your online business is open for 24 hours a day and 7 days a week.
- Ease of control: people complain running a business is too difficult and requires a lot of hard work. This statement may be true for traditional businesses. But in contrast ,online business is comparatively much simpler to do. You can manage your business from the comfort of your home, you can manage your business on the go!! You can manage your business with just a few clicks!! Is it not easy enough to control your online business.
- Better business promotion and targeting: business always needs promotion and most of the time the promotion is done through advertisements, traditional advertising campaigns are generally seen in the newspapers, roadside hoardings, televisions etc. but these ads are too costly for startup business, whereas you can run your ad campaign on google or social media with a fraction of the money and you can target your audience more precisely. These ads are sharable and a good ad campaign can go viral in a few minutes.
- Better customer Relationship: in a business having a good relationship with customers is very important, online business takes a further step in this regard. Customers can access all information online, related to your business with a few clicks. They can even post and read reviews of your products and services. You can also address their problems via online chat or any other online support system. This will help you to build trust and retain your customers, so that they purchase from your website again and again. As a result your customer base grows eventually.
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