The Advantages of Online Business
27.6% of humanity, at least one out of every four people around you, is a digital shopper in 2021.
The steady evolution of ecommerce progressed the number of existing online shoppers to a whopping 2.14 billion this year.
Ecommerce has been on the rise, slowly taking over the way businesses sell and the way consumers shop, even prior to the pandemic.
Having an online presence is not only beneficial for businesses, but it’s vital for their success and survival.
Technology is transforming consumer shopping trends year after year where today, the buying process is demanded to be as quick, easy and convenient as possible.
Embrace the digital movement and take advantage of the countless opportunities that an online business brings to the success of your brand.
Benefits of Having an Online Business
As a businessowner, you should seize the opportunities where there’s potential to not only profit, but expand.
While having a physical business location is beneficial, a digital outlet helps you influence your audience on a global level.
A business website reaches all the places and consumers that a physical store doesn’t have the ability to.
Whether you’re a spa in Hawaii or shoe designer in Italy, there’s always going to be a fraction of your market that’s unattainable without an online presence.
In addition, 92% of consumers visit a brand’s website for the first time with no intent to purchase.
Instead, consumers want to build trust by browsing through a brand’s products, services and reviews before committing to a physical or digital purchase.
Underestimating the power of a digital presence neglects this trust with your market and ultimately, causes you to miss out on profits you didn’t even know you could make.
What are the Advantages of Doing Business Online?
If you’re starting a small business in Ireland, we recommend taking advantage of building an online presence because there’s a lot that your company could benefit from:
Trading Online Voucher Scheme
Ireland is taking initiative to make the process of online trading much easier for new companies through a grant known as the Trading Online Voucher Scheme.
The Voucher is intended to get small businesses trading online more effectively to ultimately expand, reach new markets and boost company sales.
A business can get a grant of up to €2,500 to spend on any of the following:
Upgrade or development of an ecommerce website,
Implementing online payments/booking systems,
Internet software development and implementation
Online advertising (only up to 30% of the voucher can be spent on this),
Mobile app development,
Implementing a digital marketing strategy (SEO, social media marketing, digital ad campaigns etc.),
Expert consultation for developing an online strategy
Training and skill development to establish and manage online trading activities.
The Trading Online Voucher Scheme can put your business in a great place to develop a strong and successful online presence.
These qualifications are needed to qualify for the Voucher:
Limited or no online presence,
Up to 10 employees
Turnover is under €2m,
Must be trading for at least 6 months,
Company location must be covered by the LEO
Low Operating Costs
An online store is much cheaper to build and manage. Compared to a physical store, you’re not required to pay for things like maintenance, utilities, staff, inventory, warehouses, transportation etc. for a website.
While your product may be created in a warehouse, it’s not necessary for an online brand to have an inventory. Your products can be sent to your customers directly from the supplier if you want to reduce shipping time and overhead costs.
While building a website is affordable, investing in an experienced digital marketing agency will ultimately add to your bottom line when you start selling.
If your website is built well, your consumers will enjoy interacting with and purchasing from your brand more.
A digital marketing agency can easily transition your business to the web, plus help you develop, design and manage your online presence for an affordable rate.
Better Customer Support
An online presence allows you and your consumers to communicate more effectively.
If a customer has an issue, they can contact you on the web, instead of taking the time to physically go to your store.
Websites are also filled with tons of information where customers can resolve their questions or issues before reaching out to your team.
Reaching a worldwide audience at all times of the day gives your business an endless leverage.
Since websites don’t have 9 to 5 working hours like the rest of us, they’re open and accessible 24/7.
New and existing markets can visit your site to buy whatever they want, whenever they want, wherever they want.
Add to your growth and take advantage of the limitless business opportunities that a website presents to your brand.
You Can Easily Operate Anywhere
As long as you have an internet connection, your online business can operate from anywhere in the world.
Whether you’re still in bed or on vacation, software and digital databases make it easy to conduct and manage your online business.
Instead of hoarding countless documents in your office, you can access whatever business reports you need on the web to track your activities and orders.
There are also various online service providers to make managing processes like billing, order fulfillment, payments and purchasing as smooth as possible.
An online presence is the most effective strategy that businesses can implement to expand their brand, reach new and existing markets, and improve their bottom line.
If you’re interested in starting a small business in Ireland, StartSmart can help you get established and registered so you can begin building the business you’ve always wanted.
Contact us if you have any questions or comments about the benefits of an online business!