E-commerce is becoming increasingly popular in the year 2020.
The reason is the COVID-19 pandemic that has essentially resulted in the closing down of many brick-and-mortar businesses. In this article, we list down a few reasons why you need to take your business online. Why is it important? It is not an exaggeration when we state that your business won’t be able to survive this pandemic
10 REASONS WHY YOU NEED TO CONDUCT BUSINESS ONLINE
COVID-19 PANDEMIC
The pandemic has resulted in many businesses going bankrupt. Many businesses have been shut down and the economy is crashing down globally. Only businesses that adopted the practices of remote working and took their businesses online were able to survive. Many Pakistani freelancing websites offered services to help businesses do an online setup.
Covid-19 has left no choice for businesses to operate online. Those who adapted to this change and learn the ropes of it were able to keep their business afloat. Social distancing was imposed on people all over the world by their government as a precautionary measure against Covid-19 and is still in practice, which is why the only safe way to do business online.
All Businesses are compatible with an E-commerce business
E-commerce in the very simplest of forms refers to buying and selling products over the Internet with electronically processed payments. Any type of business, selling tangible or intangible products can be taken online. Today we are seeing that even the classes of preschoolers are being taken online.
E-commerce works well with B2B, B2C, B2G, and C2C. The most common form of business conducted online is B2B and B2C For example Macy’s. However, we see C2C emerging on online platforms as well in the form of OLX, etc.
Online Shopping Saves Time and Time is Money in 2020
E-commerce businesses give customers the advantage of saving a lot of time shuffling through shelves looking for their products. Buying online gives customers the ability to search for specific products, scroll through their specific requirements, and buy. It saves you the time of going to the store, shuffling through products, waiting in line for the bills, etc.
The same goes for B2B businesses as well. Time is money for businesses and there mostly the transaction today is done online or over the phone. Millennials and Gen Z are all about getting things done as quickly as possible.
Online Businesses Work well with Niches
The business world is filled with specialized products that are targeted toward niches. Online business helps with the marketing of these products to the targeted audience. In a traditional setting, it is hard to get to a specific target audience, therefore online marketing works well here.
E-commerce websites are stated to have been successful for retailers whose target audience is highly segmented part.
Low Operation Cost
Having an online store is cheap. All you need is a computer, an internet connection, and a website designer. Many Pakistani freelancing websites offer the services of website designing at relatively cheaper rates.
Comparatively, in a traditional store, the businesses involve the cost of warehouses, utility bills, wages of employees and rent, etc. You can be conducting your online business from your bedroom and it does not matter, that how easy it is to have an online store. However one has to invest in marketing and having social media profiles of business to promote branding and increase sales.
Good Customer and Client Relationship
In an online business, the owner has the advantage of dealing with his customers and clients personally, Which is the best way to build a good relationship which in turn increases your brand’s reputation and sales.
In an online business, a good relationship is key because many customers and clients tend to leave an online reviews of your business. Therefore your customer service needs to be exceptionally amazing.
Increases Brand Recognition
In online business, brand recognition is the key to selling products. Through your website and online social profiles, your business brand can be recognized and your small venture can grow slowly.
Many social websites offer marketing packages for businesses that can be used to increase brand recognition.
Sharing of Information
Having an online store and profiles on the social media platform makes it easy for your business to announce new products or share any content related to your business. The key is to make the content attractive and precise to get the best results from your customers.
Customer Reach
The customer reach is enormous online. Websites such as Facebook, and Instagram have made it easier to reach out to your targeted market by offering data and analytics based on geographics, habits, and interests of audiences.
