DETERMINING ONLINE BUSINESS OPPORTUNITY
The only thing that remains constant in business is transition. It is important for companies to understand their customers' needs and to be creative in order to be competitive in the market. Customers eat up the lion's share of every startup's or organization's stock. We'd be left with nothing if we didn't have clients. They are game-changers for us. Customers are the foundations that decide who should be in charge of the industry. As a result, customers are at the top of every business's priority list, and each entrepreneur should be aware of the customers he is targeting. But before targeting the customers the business should be aware of the fact that they are comfortable. Every company has its own way of doing things that may have worked for years, if not decades, but these strategies may not continue to work for you in the future because, in this ever-changing world, consumer demand shifts over time.
With the constant change, your business also needs to move along the line to gain market share. As we all know, in this age of digitalization, consumer purchasing habits are shifting, making it necessary for companies to go online in order to reach out to more consumers and increase their market exposure. Digitization has become more of a necessity considering the pandemic at hand. Now is a good time to move your company online to minimize physical interaction as much as possible during the COVID-19 outbreak to maintain business continuity.
REASONS TO MOVE ONLINE FROM OFFLINE
By 2022, it is estimated that the global eCommerce industry will be worth $5879.1 billion. That's a huge sum, but to even get a sliver of this pie, you'll need to be at the top of your game. You must keep up with all technological advancements as well as consumer demands. Here we will further discuss the reasons to move online from offline business:
Diminishes Operational cost
Let’s face it, brick and mortar businesses cost much more than online businesses. You'll need bricks, mortar, and everything in between to open a brick-and-mortar shop. Unless you have the financial means to buy a building, you will almost certainly be renting and the list continues. Reduces operational cost is the plus point of an online business, one doesn’t need much to start and continue with an online business which gives you the biggest advantage when it comes to turning your business idea into reality.
Unless it’s art, nobody is crossing rivers for a commodity that they can just buy at a single click. With a brick-and-mortar business, you are bounded by geographical boundaries. The best way to cross that boundary is by going online. Owing to recent shipping developments in eCommerce, international consumers are willing to purchase from companies overseas if it means having a product they want. They can trust that they'll get the product in a timely manner and that is no imaginable with an offline business.
Availability at all times
Have you ever heard the word "earn money when you sleep"? A website is available 24 hours a day, seven days a week, which means people can browse for and purchase your goods whenever they want, whether it's the middle of the day or the middle of the night. This type of accessibility improves the opportunity to benefit as well as the partnership between customers and merchants. One cannot offer offline round-the-clock service with limited resources, but with a website, it is just way too easy.
PILOTING FROM OFFLINE TO ONLINE BUSINESS
According to a study, 45 percent of small and medium businesses do not have a website, over 70 percent are moving to eCommerce, and 71 percent are attempting to keep up with rising customer demands. On the plus side, 41% of companies are capitalizing on the pandemic by sustaining and expanding their online presence across all platforms. We are marching towards new signs of success, despite the fact that technology is constantly evolving. Many business owners want to stay on top of their game when it comes to running a profitable company and so should you, that is when Akestech Infotech comes into the picture. At Akestech, we understand the dedication, hard work, and perseverance required to construct, maintain, and scale a successful online business. We go beyond the basics of website creation to assist merchants in achieving success in the online space around the globe, as well as assisting them in starting a company from the ground up. Now online business is just Akestech reach away!!