The Benefits of E-Business
The Internet and related technologies can change the way you develop and conduct your business processes, making them more time and cost efficient. They can diversify your marketing channels and, ultimately, help you increase your business revenue.
The Internet levels the playing field for small businesses. That is, it allows small business operators to compete on equal footing with larger businesses in the same industry.
Through the Internet, your small business can distribute information online to a global audience, immediately, with little out of pocket expense. This means you’ll reach more clients or customers in a shorter period of time.
It gives you the ability to interact with your clients and customers in new ways, putting power in the hands of the buyer, giving your clients or customers more choice than they’ve ever had before.
And finally, the Internet gives you, the seller, the ability to readily assess your online business practices and modify them on the fly to ensure they meet the needs of your clients/customers.
In short, you can use the Internet to:
Collect vital business information related to your customers and competitors. The Internet is a valuable research tool and, as a readily accessible information medium, its ability to allow you to remain competitive in your industry should not be underestimated.
Increase awareness about your company. Even if you are not considering selling online, having a website that promotes your business, provides contact information, and outlines your unique value proposition – that is, the unique collection of benefits attributed to your product or service that creates value for your customers or clients – will simply increase your reach and value in the marketplace, and make it easier for your potential clients/customers to find you.
Streamline communications and improve customer service. Email communications, website FAQs and auto-responders are examples of simple and cost effective electronic techniques that can help improve communications between you and your clients/customers.
Improve productivity and reduce costs. Simply by streamlining communications using Internet technologies, you can improve your business productivity. And, out-of-pocket costs can be reduced further by implementing a readily updatable website, instead of printed materials that have a short shelf-life, to relay pertinent information to your customer base.
