Going online is the new normal
As the world experienced a complete halt in 2020 because of the Covid-19 pandemic, the boom in online business was noticeable in every industry feasible and possible. As the world continues to get hit by the tsunami waves of coronavirus, taking your business online has become the new normal.
Why go online?
Even before this crisis, digital sales and marketing technology were slowly catching up. According to statistics, online global businesses will face a boost of 45% within 2025, which alone is enough to take your business to the internet mode. But wait, there are many more reasons for you to join this new global business strategy. With the rapid evolution of work from home and unannounced lockdowns, your customers might not have the chance or time to be physically at your store. Still, you can always take your business to their doorstep by going digital in business. In short, stay with your customers, today, in the future, and always.
What’s so special about it?
As more and more people are preferring to display their products and services online, by choosing to adopt digital transformation, you are achieving that competitive edge that you are looking for. To gain the upper hand, you can always provide combo offers and give promotional discounts. Physical stores usually have limited space and are costlier to maintain. But with an easy online delivery system and updated B2B and B2C communication, it is both easier and less expensive to maintain your online business space. You can even opt for creating inventory at your home. For SMEs, starting an online business is hassle-free and simple to maintain when compared to a traditional business. By going online in Covid-19, you are essentially increasing your brand visibility, generating virtual traffic to that Facebook Business page that you created a while ago, and decoding your rivals’ prices- all at the same time. Thus, online is not just a mere option, and it is a necessary weapon of business.
What and how to do it?
Deciding to go online doesn’t take time but going online does. There’s a lot to understand about lifting your business online, and the primary two decisions are about where to do it and what to take with you. Though there are many online platforms, only a handful of them are reliable and thus, deciding which platforms to choose is crucial. There are multiple channels like picture mode (putting up product photos), live mode (displaying products on live video feeds), etc. That can be used to showcase your excellent product variation and quality.
Facebook live and IGTV on Instagram are some great options, but it is better to go through buyer and seller groups already existing on these social media pages. This is known as omnichannel marketing. Also, products that do not sell so well online and understanding which products to put on sale in your online business are very significant for setting the benchmark for your brand value and name. For your customers to find you online in digital platforms like IndiaMart or Flipkart, giving the right hashtag or using the correct keywords is an absolute must for your customers. Digital marketing is a quintessential part of online business.
According to the statement of a YRC expert, “There may be many product varieties that may not sell so well online, and understanding which products to put on sale in your online business is very significant for marking your brand value and name.”
We know that decoding those online business patterns necessary to adopt digital transformation can be very tiring now and then. After all, even a busy person like you deserves a break! That is why we at YRC are happy to provide you with assistance in starting an online business and to help you realise the need for digital transformation. Our management consultants are amongst the top in the country, and with their expert guidance, you would be able to assess everything there is to understand in going digital in business in this period of crisis.