Why Online And Not In Store?
If you have been paying keen attention to the 21st century you would have noticed the vast growth of the internet and the evolving roles it plays in our day to day lives. From emails to making posts of all your activities, a day without the internet almost seems detrimental, and though there are many down falls to this great medium the benefits still outweigh the risks. So how can small businesses use the internet to their benefit, you may ask.
The answer is this simple, start your business online. For many reasons an online presence for small businesses works out better than a physical store. Here’s why:
According to (Statista, 2019) approximately 2.77 billion of the population will be on social media in 2019. That sums up to roughly 13% of the world’s population. Already an online presence opens your company up to far more potential customers than a physical place would. The greatest benefit of running a business online is the wider reach of customers from not only your country but other countries across the globe.
With online businesses there is generally no opening and closing time which is usually the case with a physical store. This means that your business could be earning money way past the average 9-5 work hours. This is also a great benefit to customers. It gives them accessibility to your store at any time that is convenient to them. Customers would appreciate that fact that there is no hassle to leave the house, office, or hangout spot to get to your store. Instead, the store is right at their finger tips.
Physical stores in most cases may require rent payment, light payment, water payment and just about anything that you may need to keep your store running. These costs may be very heavy for small businesses and reduce the potential profit that can be made. However, online businesses at most require web development and web maintenance fees that are far less expensive than that of a physical store.
When speaking about the costs of business it is also important to take note of the marketing costs. Physical marketing is very expensive and may cut into most of the costs of a company. Because marketing is so crucial for businesses to build a customer base, it cannot be ignored. However, online marketing has given small business, and even bigger businesses too, an opportunity to cut down on the marketing costs and still reach a wide spread of potential customers. In fact, the marketing world is beginning to shift from the physical advertising and branding such as billboard, newspapers, posters etc., to a more cost efficient method known as digital marketing.
A strong online presence allows companies to interact with their customers on a daily basis. Marketing today is not just about selling a product but selling an experience to customers. The internet gives the customers a look into the day to day functioning of the business making it more personable and relatable .This helps with the selling of the experience that customer now look for when aligning them self with a brand.
So there you have it, the answer to your question of the importance of having a strong online presence and why it is better to start small businesses online.
Feel free to look at our website for ideas on how to set up your online business.
Statista. (2019). Number of social media users worldwide from 2010 to 2021 (in billions). Retrieved February 7, 2019, from The Statistics Portal: https://www.statista.com/statistics/278414/number-of-worldwide-social-network-users/