Believe it or not, if in this digital age, you still haven’t taken that business of yours online, then you’re doing more harm than good to the business. With so many of your competitors now on social media, online stores, and Ecommerce sites, it is criminal of you (LOL) to sit back in your brick-and-mortar store and expect customers to walk in on their own accord. You’ve got to go meet them where they are, buddy!
But, of course, I can understand the reason why many business owners are sometimes reluctant to go online. Talk of the risk of being swindled by customers online, business accounts being hacked by cyber scammers, and some never-do-gooders posting negative and false reviews about your business.
But when you consider the plethora of advantages that come with moving your offline business online, you’d realize that the benefits you stand to gain far outweigh any potential threat or downside.
With that being said, here are some of the biggest advantages that come with transitioning from your brick-and-mortar store to an online platform.
- Staying competitive
At the end of the day, both you and your competitors share one common goal, which is to satisfy your target consumers. Now, how you do it will determine who ends up with the largest share of the customer pool.
With the entire universe now going digital and opting to shop online instead of visiting local stores, any business that is not online is only a few years, if not months, away from being rendered outdated.
But if you want to stay in touch with the rest of the competition in the industry, then it is important for you to do that which most of your competitors are already doing – establishing an online presence. Whether via social media platforms like Facebook, online marketplaces like Amazon, or Ecommerce sites like Shopify, it is important for you to find a way to establish a presence online if you want to stay in competition with the rest of the brands in the industry.
- Going Global
In the not-too-distant past, if a business needed to advertise or sell its products in another country, they would have to travel down to the country. In this digital age, however, you can advertise and sell your products to anyone, anywhere, anytime without necessarily leaving your brick-and-mortar store.
You just need to identify where most of your target audiences love to shop, and then take your products or services there.
- Lowering cost
With online stores, you can advertise products that are not currently in stock, and once the order comes in for them, you can go to procure them and make your delivery. The interesting part of this is the fact that you can sell as many components of your business as you may like without necessarily incurring too much inventory costs.
Furthermore, if you need to diversify your business and add some new components to it, you wouldn’t, you wouldn’t need to incur any high-risk investment such as a new storefront or procuring more stock.
- Zero time restrictions
Another great advantage of selling online is the fact that you get to make money while you sleep. Unlike in conventional brick-and-mortar stores where businesses have closing hours, online businesses operate around-the-clock kind of system, wherein customers can order goods or services 24/7.
Just imagine you wake up in the morning, and you find a $10,000 order waiting in your site box to be delivered. How awesome would that be? While your brick-and-mortar store is still waiting for you to come open its doors, your online site has already earned you thousands of dollars, and the day still hasn’t even begun.
- Greater customer reach
It goes without saying that the easiest way to bring new customers to your business is through digitalization. Yes, your brick-and-mortar storefront can attract the locals, people living next door, and those living nearby. But what about those living far away? How best can you reach them?
It is no news that a large percentage of the human race is now on the digital landscape, and getting your business on this same platform is the best way to bring your products or services directly in front of those that need them. But without an online presence, it would be near-impossible for people living far away from you to know about the existence of your business.
- You will sell more
Digital technology has a way of enticing humans into making impulse buys with its colorful themes, fascinating adverts, positive reviews, and social media buzz. Just imagine that your online business website is offering a Black Friday promo, and the news of this promo hits the digital communities on Facebook, Twitter, or TikTok, how many new customers do you think your website will attract?
Provided the promo sales run smoothly, your business will experience a great customer base boost, with customers coming from around the world, and ultimately, you will sell more.
In this day and age, it is no longer enough for a business owner to just sit and sell in their local store, they need to create platforms online if they want to reach more people and sell more.