First off, considering the topic making business visible virtually, let’s quickly run down some numbers, shall we?
There are 199 million Twitter users globally (source), 80% of whom access the platform on a mobile device. 99% of Twitter subscribers use at least one other social platform.
80% of them are millennials with 77% earning more than $75,000 annually.
In short, what we are trying to say here is that there’s no better time for your business to be virtually visible. Traditional advertising doesn’t cut it anymore. It will take more than just placing an advert in the dailies.
We take a look at the perceived benefits of a business’s online presence. Indulge.
Low Startup Cost
This poses one of the major advantages of having your business virtually visible. Traditional or physical stores have to put up with high rental costs. Other costs include signage, utility, equipment, and inventory costs, not to mention hiring costs. Depending on the value of your merchandise, you may need to hire security.
However, such costs are unlikely when you venture online. Since it’s cheaper, you will likely break even more quickly and your chances of survival would be quite high.
Depending on the nature of the business, you may need to hire employees when the venture grows to a certain level. Above all, the employees would work online. Other businesses such as drop shipping don’t require one to invest in inventory hence cutting down on inventory costs.
Further, branding or advertising online is more affordable than a physical store logo. And yes! Even the best-in-class graphic designers will charge you less compared to an offline or physical paint job.
The number of new virtual businesses is steadily on the rise due to the attractive attribute of low start-up costs. Though on the rise, it barely stacks up to the estimated 2.14 billion digital or online global shoppers who made it to 2021. Therefore, more needs to be done to cater to such a demand.
No Limit To Your Earnings Potential
When you are thinking of making business visible virtually, your business online presence literally opens your world to potential financial freedom. Facebook Ads have the potential of attracting customers from around the globe, irrespective of what time it is.
Compared to the traditional brick-and-mortar form of business which typically runs maybe from 9-9am, an online business venture will definitely have a competitive edge. Its store never closes.
As a shrewd business owner, think about your audience who may have erratic or odd working hours and may not be able to pop in at the retailers during normal working hours. Call them weird or whatever you want for those who shop during night hours.
The bottom line is, as an online business, leveraging on each and every lead is essential to the entity’s survival despite their shopping habits and tendencies. You don’t need a worker manning the desk to process an incoming order at 3am. All you need to do is automate your systems. This way, the buyer gets a confirmation email that their order is received for their ease of mind.
With an estimated 2.14 billion digital shoppers, it’s a no-brainer that you need to be online to get a piece of the action. It’s easier to land your target audience whether they are in South America, the UK, or Africa.
Since selling online is a great feat that aids you to build your brand exponentially, you’ll be in a position to rake in profits faster compared to local competition.
Other online businesses such as drop shipping rid you of the headache associated with cross-border shipping, giving you more time to take care of other things that really matter.
Access to Customer Data
In this technological age, data is the new oil. It’s powerful in that it gives trends, analysis, and insights into buyer behavior. Only those who know how to use data to their advantage will reap maximally from it. Moreover, for a brick-and-mortar business, it is practically hard to get a customer’s information such as phone numbers, email, and mailing addresses.
With online business, one practically has at least three ways of communicating and building relationships with both potential and repeat clients. You could have them share their birth dates, fill out online surveys and monitor their shopping trends to come up with customized targeted ads.
Analytical tools can further aid you in determining the number of website visits, the number of emails sent by your website users, and the origin and demographics of your existing and potential clients. You could craft better marketing strategies based on such data insights.
Your business online presence helps create credibility. It entails creating a website that has the homepage (value proposition), the About us page (nature of business), and the Contact Us page (location). This is proof to potential online clients that your business exists and is legit.
Taking it a notch higher, various agencies are now creating virtual tours of businesses aimed at digitizing entities aimed at improving online exposure. You can now go beyond location to get a virtual tour of your desired business for that ultimate experience.
However, there’s a twist to it. Despite being virtually visible, 75% of consumers judge a company’s credibility based on its website design according to Graffiti 9, a digital marketing agency.
Online business growth is easier compared to brick and mortar types. One can achieve this through blogging, content creation, or video creation. Furthermore, implementing SEO strategies will make your website stand out and help drive organic traffic and sales through increased website traffic. Luckily, you don’t need to dent your pocket to achieve this.
A physical retailer will either have to heavily market to the prospective clients to ensure repeat visits or position themselves in a high-traffic area.
As we cap it off…
Tweets, retweets, Dm’s, etcetera… these are today’s norms and lingo that are highly gaining traction not only in our individual or social lives but in the corporate and business world too. Business entities have tasted and opened their eyes to the new possibilities that abound with being virtually visible. So, following the above ways, making business visible virtually is very much possible. Not only do businesses risk being outdated, but the risk of extinction lingers. Embracing online strategies can make all the difference and give your business the much-needed lease of life.