Reasons Why Your Business Should Be on the Internet and How to Successfully Expand It
According to Statista, nearly 60% of the global population is online. That’s a whopping 4.66 billion active internet users across the world. China and the United States lead the pack with 854 million and 298.8 million active internet users, respectively.
And people are not going online for the fun of it. Salesforce estimates that 85% of consumers research products/services online to make better purchase decisions.
So if your business is not online, you are probably missing many potential customers. Of course, it takes money to establish an online presence and implement a successful digital marketing strategy, but the benefits are huge.
If you don’t have enough money to cover the upfront cost, you may consider accessing small business loans from a reputable online lender. Make sure to use a small business loan calculator to compute your loan’s fees and determine whether it will have a good ROI.
Why Your Business Should Have a Digital Presence
Increase Your Market Reach
The internet is borderless, and once you go digital, you can market your brand to a wider audience and explore growth opportunities online. Many people will come across your products and services online, and you are more likely to sell to a broader audience.
Internet tools help you run more target campaigns and avoid guessing. Instead of blasting your marketing message to generic audiences, you can segment and filter your audience using various demographic parameters.
That helps ensure you reach potential customers who are more likely to love your products/services and interact with your brand immediately or later on. The net result is better conversion rates, which leads to more sales.
Slash Expansion and Marketing Costs
Once your business is online, you can sell to new audiences without the need to establish physical stores in their area. You only need to collaborate with fulfillment partners in different regions.
Again, digital marketing strategies are less costly, more effective, and produce better ROI than traditional marketing channels.
Drive Better Engagement
You give potential customers many platforms to interact with your brand when you go online. They can reach you via your website, social media pages, email, and other digital channels, which increases their chances of doing business with you.
Digital channels are also great places to address your customers’ queries and grievances about your products/services.
You can even collect customer feedback or conduct surveys online via your website, email, or social media to gain essential insights and data that you can use to improve your product/service offerings.
Build Brand Awareness/Reputation
Going online helps increase brand visibility. People will find you on search engines, social media platforms, and more. With more interactions, they begin to notice and recognize your brand.
Digital channels are also great places to build a brand reputation. If you actively interact with customers and address their concerns, especially after a sale, customers will trust you and become loyal brand ambassadors.
And once you have an online community of loyal followers, you benefit from free word-of-mouth marketing, recommendations, and referrals.
Marketing Tools That Will Help You Have Better Profitability of Your Business
Digital channels provide many tools to help you market your brand without spending a fortune. That helps widen your product margins and make your business more profitable. Top online marketing tools include:
- Market research tools: These include Google Trends, Salehoo market research lab, Amazon bestseller page, Alieexpress hot products, etc. They help you identify profitable products and suppliers in your niche.
- Social media tools: Social media tools like Buffer, Sprout Social, and Hootsuite help you manage your social media accounts and track interactions and engagements.
- Email marketing tools: Tools like GetResponse, MailChimp, HubSpot, and SendPulse help you run personalized email marketing campaigns and track the performance of your campaigns.
- Google Analytics: This tool helps you understand your website visitors, track the performance of your marketing campaigns, and gain important insights that you can use to optimize your marketing efforts.
- Chatbots: Chatbots help you stay on top of your customer service. They use artificial intelligence to offer personalized customer support 24/7.
Nail Your Digital Budget With a Business Loan Calculator
You need some money to build a professional business website and hire qualified digital marketing experts to take your business online. If you don’t have enough cash, you can easily access small business loans from a fintech lender to meet the cost.
Remember to use a business loan calculator to establish your loan’s costs, including total interest rate, monthly repayments, fee, and repayment terms before you borrow. That helps you sift good deals from bad ones and maximize ROI.
To see how a small business loan calculator works, visit the link in the intro.
How To Use Your Finance Degree To Make Money With Crypto
So you have a finance degree. Congratulations! You are now in an elite group of people who have the skills…