For several businesses, the decision to move to an online business is one they still face. The steady rise of eCommerce websites is a signal that it is time for brick-and-mortar stores to have online operations. The recent pandemic pushed that further. Most businesses had no choice but to move online to survive.
There are limitless opportunities when doing business online. Regardless of the global crisis, you can keep operating, keep getting leads, and stay connected with consumers.
Let us see what the benefits of moving a standard business within the online environment are.
7 Benefits of Moving Your Business Online
1. Moving your business online makes it more user-friendly and cost-efficient.
Unlike a physical store, one of the biggest reasons for people to set up shop online is the low-risk aspect of an online business. Establishing an eCommerce website lessens the operating costs you must spend on a physical location. Operating expenses include high rental fees, on-site employee wages, and installing expensive security systems. Although setting up an eCommerce website still comes with fees, it is significantly cheaper than a brick-and-mortar store’s start-up costs.
2. Customer support is improved with an online business.
Staying in touch with and getting feedback from customers is much harder if you only have a physical location. Operating an online business will undoubtedly improve any business and increase its value. One of the factors that contribute to this is improved customer support that you can give when your business is found online.
3. An online business has an expanded consumer base.
A key advantage of moving your business online is the opportunity to expand the consumer base dramatically. An eCommerce website increases your business’ exposure. Buyers now have on-demand access to information about your product. Product purchase also becomes more user-friendly.
As you make the sale process more convenient, you also attract new customers. Your customers are no longer limited to the people living near your geographical location. You now have access to new customers from farther locations. You can even sell globally either straight from your website, or by partnering with other eCommerce sites.
Not having an online presence, both via your website or social media accounts, it inadvertently points people to your competitors. To remain competitive in the market, keep an online presence
4. You can do business remotely with an online business.
Moving your business online gives you the power to live and work from anywhere you want since you can operate your online business remotely. All you need is a reliable internet connection, and you are good to go.
It comes as a business lifesaver now that the pandemic is still among us. It is a security and health hazard for businesses to operate at full capacity in physical stores. In most countries, only essential needs businesses are also allowed to operate partially. If your business is not classified as essential needs, how do you stay operational? Online is the key.
5. An online business can have access to the best remote workers
Now, it is possible to operate your business from one continent and get talents and employees from all over the world. Distributed teams like this are surveyed to be more productive and output-driven. There are some risks in hiring remote workers, but the risks can be managed and avoided, with the right team management strategies.
6. Online businesses imply lower administration costs.
One of the primary benefits of bringing a business online is lowering individual costs. For one, storage space costs are reduced. You do not have to keep stocks. Instead, you can arrange products directly sent from your supplier to your customer. You can also hire third-party logistics services to move products for you if you do not want your suppliers to have direct access to your clients. T
This results in faster delivery and less paperwork. Just make sure you follow laws in places you serve. For instance, some items you may be selling may require higher tax in some areas or may not even be allowed in other areas. For example, when I order my children’s homeschool curriculum, there are some items they cannot deliver overseas because it is restricted. You also need to be aware of online scams and make sure that you keep your network secure from hackers.
Online businesses also require low start-up and administration costs. You have no physical office, and not much asset is needed to start operating. You also do not need much staff. If you started as a brick-and-mortar store, you could even transition smoothly to online operations by selling the same products your original consumers are used to. Then you can begin expanding what you sell as you go along to cater to a broader, even a worldwide consumer base.
You can use the internet to submit proposals, POs (purchase order), and order confirmation quickly. Touchless solutions in logistics also allow your clients to track their packages in real-time and be sent notifications through email regarding the progress of the delivery.
It used to be time-consuming, especially if you have a physical store where all orders need to come from. Businesses are also using the benefits of cloud-based storage solutions for more secure and faster sharing of data between members of the team, or with suppliers and clients.
Again, you can outsource many necessities, like staff, storage, logistics, and the like. In traditional businesses, marketing can be costly and time-consuming to run. You can take full advantage of cost-efficient digital tools like email marketing, lead generation, and social media for marketing to further boost the business.
7. Moving your business online increases your opportunities for organic SEO ranking.
Organic SEO ranking is something that websites aim for because it gets you website traffic and conversions without paying for expensive ads. It is a more long-term strategy for brand awareness and loyalty. The more organic your traffic is, the better ROI as well. You can still get high SEO rankings through the pandemic, which brings good business.
Conclusion: Stay Open for Business by Moving Online
You can stay operational even through one of the worst times the world has seen, which has debilitated economies everywhere. Moving your business online may be a temporary solution for some. In the way things are going, it may be a long-term solution to keep your business thriving amid increasing physical risks worldwide. So, keep your “shop” open and reachable even amid physical closures and social distancing, by moving your business online.