Marketing is easy through the Internet and online businesses can increase brand awareness through online campaigns or advertising spaces or banners. A successful online campaign can become viral on the Internet and create a lot of buzz for the product or business. Online social media have proved to be effective tools for online marketing too.
2. Reaching consumers in different regions easily
You can do business with someone even if he/she might be located at the other side of the globe. An online business's customer reach is world-wide and in turn, its business opportunities are endless.
Customers can transact or feedback anytime and by using the Internet, online businesses can efficiently deal with the matters promptly too, no matter where they are located. This means greater convenience, better customer service and increased customer satisfaction.
4. No entry barriers
Anyone can easily start an online business eg. through a blog or through ebay. It is a great platform for young and aspiring entrepreneurs can try and build their businesses. There are no restrictions in starting up an online business (assuming you are not out to cheat or scam others).
5. 24/7, mobile, not being physically present
An online business means that you can keep it running without being physically present. It can generate profits for you even when you are sleeping. Also, with many electronic gadgets available to keep you online, you can tend to your business even when you are on the go. And as mentioned earlier, your business can be available 24/7, hence you would not lose customers just because of time differences and unsuitable operating hours.
6. Lower operating costs; lower prices for consumers
Some online platforms or spaces that are used for online businesses require little or no cost at all. In addition, without needing staff to tend to the business all the time while it is running, it means lower operating costs for the business too. Lower operating costs essentially means lower prices for their customers, and that translates to having more competitive prices.
Online businesses often provide online payment options to their customers, which makes the whole transaction process more convenient for both parties. It speeds up the whole transaction process too.
8. Healthy competition
It is easy for consumers to make price comparisons through the Internet. That makes online businesses try to keep their prices low and competitive, which is a win-win situation for both the businesses and the consumers. Also, businesses will seek to provide good and prompt service so as to keep and attract customers. This healthy competition ensures the survival of the fittest.
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