Welcome to Techsesh sagar, Today we are talking about the online business or E-Business. What is the advantage of the online business over the traditional business, why we should move towards e-business, how we can do the same, there are so many questions comes in our mind when we think about converting our business or starting our business to online.
Time is money, we all know that. And in the traditional business, we do marketing of our services with the help of Ads on- TV, Telephone, newspaper, broadcast, banner, door to door marketing, which is very costly and time-consuming. And in the online marketing or digital marketing, we use an electronic medium like SEO, PPC, Email Marketing, Affiliate Marketing, Social media marketing etc, which is cost-effective and less time-consuming.
Advantages of online business are as follows:
- Finding lots of new customers
- Selling products or services from Website or App
- Delivering targeted advertise to customers
- Learning more about what your customers love
- Using analytics to power your online sales
Finding lots of new customers:
According to the International Telecommunication Union approx 47% of the world population are using internet, And if we talk about developed nations then it is 87%, And in developing countries it is 40%. This graph is increasing very fastly, so it is very helpful to start our business online because we can get lots of customers or visitors on our services or products website or Application. In this era before buying any product or services people explore that product on internet, most of the people search for daily needy product. So if you are working on the same business, then the possibilities of people coming to your site may get increase dramatically. So we can say that in online business, there is a chances of getting lots of new customers daily as compare to traditional business.
Selling product or services from Website or App:
There are 20-24 million E-Commerce company in the world. In the digital world people don’t want to spend their time on old traditional marketing, eg: For Fashion, Daily need, Electronics, Grocery, etc. These are the few examples for which peoples are spending their time on E-commerce sites or Application. One most important point for which we go for online shopping is Offers, and Product home delivery. We don’t need to go to any shop for taking the product, The service providers are responsible to take our order and deliver to our door. Only we have to do that just register on the shopping sites, choose the product and order.
Delivering targeted advertise to customers:
Targeted promotion for targeted customers is very much important for successful online business. and with the help of online marketing, it is very easy to find our targeted customers across the globe. In the traditional marketing, we advertise our services but it’s not targeted. Eg: if you advertise your service on TV, Newspaper or other sources then you can’t define your targeted customers, there is always a very high cost and low rate of conversion as compared to online marketing. If you are advertising your services on the online platform like social media then you can define your targeted visitors, which is always low cost, less time consuming, and good conversion rate.
Learning more about what your customers love:
Understanding about the need of customers is the game-changing turn for every business. Suppose your customer came to your shop for buying a dress and not able to define actually what he or she wants to buy, In this case, it is very complicated for both sides. In the online business, there is some analytics database of each visitor of your website or application, which help you to define the actual need of the visitors. And according to the actual need, you can display required offers and product on your website visitor’s dashboard, which is always help the visitor to buy their lovely choice.
Using analytics to power your online sales:
Using analytics is always upgrade your sales, with the help of your website analytics you can analyze visitor’s locations, activity, behavior, and need. Website analytics will help you to customize your online marketing strategy, which will directly power your online sales.