4 WAYS THE INTERNET HAS CHANGED THE BUSINESS LANDSCAPEAugust 17, 2019 / by Marco / Categories : Business
Before the coming of internet technology, businesses and customers could only interact on a face to face basis. The internet has changed all that by transforming the entire world into a global village. As a matter of fact, access to the internet was initially regarded as a luxury that could only be afforded by a chosen few. Nowadays the internet has is a basic need, especially in business landscape. These days almost every business uses the internet for its day to day operations. Below is a list of changes that have resulted from businesses embracing the internet.
1. Real Time Communication
Communication between businesses and customers used to be hectic without the internet. This is because businesses could not communicate in real time. For instance, letters took several days to be received by recipients. Besides that, landline telephones were not effective because they are not portable. If you missed an important business call, you had to wait for ages for a similar call to come through. The internet has actually changed the way businesses communicate among themselves and their customers. Nowadays it’s possible for businesses to exchange information in real time via email, video conferencing and instant chats. And unlike in the past when businesses had to buy fax machines, these days you can send fax for free by simply using your smartphone to scan your hard copy document.
2. Wide Outreach
Like earlier stated in the article, the internet has really reduced the world into a digital village. Unlike in the past when businesses only relied on customers that within their neighborhoods, nowadays businesses can attract customers from areas beyond their localities. Since a website can be accessed from any location, businesses can benefit from conversions that are beyond national borders. This is because an advert or organic search is not limited to a certain location. As a result of this enhanced outreach, businesses are now packaging themselves as international brands.
3. Reduced Operational Costs
The internet has eliminated the need of putting up brick and mortar structures. This is due to the fact that business is conducted over the internet. Nowadays entrepreneurs are actually carrying their operations in their homes. This has made it easier for people to start businesses. As long as you have a product or service, you can sell it over the internet without having to source for funds to rent office space. Besides that, marketing of businesses has become much cheaper. Unlike decades ago when businesses used to spend thousands of dollars to promote their brands, nowadays businesses are spending less money on marketing campaigns. Search engine and social media ads are less costly than TV and billboard ads plus they target the specific people that need a particular service or product.
4. Round the Clock Operations
Unlike in the past when businesses could only transact from 8 to 5, these days businesses are operated round the clock. This means that customers can buy their favorite products and services without being limited by time. Before the coming of the internet, customers could only buy whatever they needed during normal business hours. As a matter of fact, the internet has created a win-win situation for both customers and business owners. Customers can actually shop without being limited by distance. As long as a customer has a device that’s connected to the internet, he can shop from any location without having to walk into a physical establishment.
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