The recent pandemic has shut the planet for more than four months now. With the virus spreading throughout the world, we are dealing with a global emergency, the likes of which nobody has seen since World War II.
It has impacted everything from the global economy to the freedom of people by being locked down in their own houses. We still don’t know what the world will look like after all this is over, hopefully. For businesses, the picture is as uncertain as it could be, and this uncertainty shall remain for some time.
Many businesses have already shifted entirely to an online store from a traditional one and started regaining their momentum. If you are still skeptical about taking your business online, then by the end of this article, you will have enough reasons to do so.
1. Overcome the drop in footfall
We don’t know for how long people have to avoid moving out of their houses once they have stocked all the essential supplies. People are likely to shift from physical stores to online options. Don’t you think having a business site set up with all the necessary capabilities will help you benefit from all this hike in the online traffic?
2. Increased Business Hours
You won’t have to put that ‘Closed’ sign on your shop anymore. If you have a business website, you will be interacting with your customers on a 24*7 basis.
3. Reduced Cost
A physical store needs a substantial amount of investment in the form of rents, bills, utilities, insurance, staff management, and more. An online business gets a good head start over a physical store while comparing the cost to set it up. However, there are costs associated with purchasing a domain and orchestrating a website. Still,they are nominal compared to leasing and running a physical store. Isn’t it a better option when the entire global economy is on a standstill?
4. No major Staff requirements
Running an online business doesn’t demand much staff as much of the work is automated. For example, customers do not need a salesperson to drive them through all the options. All you have to do is build a user-friendly website that ensures easy navigation through products.Purchasing an item online also eliminates the requirement of a cashier. Eventually, you might have to hire support staff when you scale your business.
5. Sell internationally
A physical store by the corner of the street may be popular in the neighborhood, but with an online store, you can cater to customers from all around the world. You can choose to dropship your products through various affordable shipping companies. Selling worldwide enables you to project yourself as a market leader, establish your brand better, and increase profits exponentially.
6. Customized Shopping Experience
Website personalization can take the online shopping experience to another level. Creating attractive web pages for different customers to land on can lure them into buying with you without any extra efforts from your end. Imagine it just as separate sections in your physical store without having to appoint staff for each section.
Create a buyer persona based on your customer’s purchase, location,and how much they spent. This way, you can retarget your customers with similar products or can remind them of the products in their carts.
7. Instant purchasing
If your website is filled with some stunning pictures of your products, short and eye-catchy descriptions, and has a seamless checkout, people would buy your products like crazy.
Shopping online saves time and effort of customers. They no longer need to walk through different sections to find what they want or stand in long queues at the billing counter.
Weren’t online stores made for convenience in the first place!
Will you take your business online after you see some silver linings?
No doubt, COVID-19 has been vandalizing businesses across the world. While it may seem tough, but we can get through this. You must consider your business plans and analyze your resources to build an online presence of your business because now is the time your customers expect you to do it more than ever. Now is a good time to think entrepreneurially —How can you create value for your business?