It’s true: virtually all businesses make use of the internet these days. However, some benefit from being online more than others. If you’re not utilizing the internet to its full potential, here are 10 different ways it can be a massive advantage for your company.
1. Marketing
This is arguably the most obvious way a business can benefit from the internet. Due to the fact virtually everyone is online these days, and with the amount of digital promotional techniques available, the possibilities are endless in terms of reaching out to potential customers.
As for what marketing options can be used, it would take an entire guide of its own to cover. However, there’s something for every requirement, budget, and effort level. Popular choices include:
- Search engine optimization (SEO)
- Social media marketing
- Video marketing
- Pay-per-click ads
- Content marketing
- Email marketing
With the right combination of marketing strategies, a company can massively enhance its visibility.
2. E-commerce sales
The other major reason a business utilizes the internet is e-commerce sales. While this a way to boost sales for a traditional store, internet-exclusive companies rely on e-commerce sales to keep the lights on.
Along with selling directly via their own website, a business can also use external platforms like Amazon, Etsy, and eBay to boost online trade. Yet, even if a company cannot sell products online – think a restaurant or service-based industry – they can take advantage of a platform like Groupon to increase transactions.
Customers love convenience. Finding additional information about products and buying them online only takes a few clicks of a button, which means having an online presence is vital in this day and age.
3. 24/7 support
Without the internet, offering 24/7 support is a considerable drain on an organization’s resources. It means either keeping the business open on a 24-hour basis or having their phoneline open at all times.
With the internet, however, it’s possible to supply continuous support without human resources. With the likes of contact forms, automatic emails, and chatbots, a customer can feel like they’re receiving helpful assistance – even if the support is simply automated.
4. Access to technology
With the internet, a business gains access to a wealth of technology which can make all processes – from the minor to the major – much more efficient to complete. It also saves on resources, lowers costs, and ultimately improves profit margins.
A number of areas that can be helped with technology are mentioned in other sections of this guide, but the examples are endless. Security, customer relationship management, inventory management – whatever area you can think of, there’s a piece of online technology that can help your business.
5. Automation
Extending on from the previous point, automation is one of the great reasons why a modern business relies on being online. Forget about having your employees complete every task manually. With automation, a number of rudimentary, monotonous chores can be eliminated from the equation, allowing you and your employees to focus on more important responsibilities.
Take stock management as an example. Instead of an employee having to keep constantly updating notes about the quantity of specific products as they are sold/arrive, automation technology means it is all tracked automatically.
6. Education
It’s true: the internet opens the door to different educational avenues for either you or your employees. Online training courses are available, for instance, which can teach departments about everything from security procedures to effectively using cloud computing.
Education can also extend beyond simply training courses. Many colleges and universities provide online courses these days, giving people a flexible opportunity to earn a degree while continuing full-time employment.
Even if you are a CEO and have earned an MBA, there’s still room to add to your educational achievements and improve your overall business acumen. For example, you could earn an executive Doctor of Business Administration (DBA). Even though it’s a doctoral degree, Aston University is a respected outlet where you can study for an online DBA. This makes it ideal for those also balancing a working career.
7. Communication
Communication has been made incredibly easy thanks to email. Forget about the perceived inconvenience with using phone or mail. With email, online calls via the likes of Zoom and Skype, and messaging apps, communication is made incredibly simple.
This is especially the case with how everyone has a smartphone on them, as this means even if someone is away from the office and on the road, they can still remain in contact with ease.
8. Analytics
If a business isn’t on the internet, their access to analytics is restricted. They can view sales figures, gain customer feedback, and so on, but the information is lacking in terms of details that the company can use to further improve their offerings.
With the internet, however, you can gain a wealth of analytics. As just one small example, on social media, you can see stats such as impressions, click-through rates, shares, etc. This means you can gain a greater idea about which content works best for your audience, ultimately allowing you to revise your entire social media strategy.
9. Worldwide talent pool
A local, physical business generally only has access to a local talent pool. Once on the internet, there are no boundaries in terms of who you can work with across the globe. There are numerous platforms on the internet which feature freelancers, and these range from budget-friendly options to experts in their field.
Furthermore, there’s a freelancer or agency for literally every business-related task you can think of – from SEO marketing to graphic design.
10. Accounting
With cloud-based, specialist accounting software such as Wave Accounting and QuickBooks, it’s possible for organizations to deal with real-time transactions, automate routine tasks, effortlessly check for any errors, back up all important data, and produce reports.
Plus, that’s just scratching the surface.
Ultimately, the streamlined nature of accounting software makes the entire process so much easier. It also means you don’t necessarily have to hire an in-house accounting team or outsource the work to a specialist accounting company.