The impact of technology in our world today cannot be quantified. With the rise and growth of
technology, business organizations have taken to the internet to pitch their products. Online
business has made an incredible impact on the lives of people and society at large. People no longer waste their time to go to stores to get or make enquires about products. Products such as cosmetics, electronics, gadgets and many more can be easily checked and ordered online.
Even foods, ranging from breakfast, lunch, and dinner can be ordered online. Clothes and
toiletries are not left out, office equipment and supplies can be purchased over the internet.
Digital technology has changed the game on the traditional way of doing businesses. There are traditional business landmarks that cannot be changed, nevertheless, they can be improved upon. These innovations and new business inventions are all as a result of digital technology.
Through digital tech, small businesses have equal business opportunities to infiltrate the
market just like their large counterparts. All businesses are able to effectively run their
operations and create brand awareness though the use of digital technology.
The more technology grows, the more businesses take their product to the internet, and the
more customers and visitors use the internet to get their product or check for authenticity and
prices. Platforms such as Facebook, Twitter, and Instagram are used to promote different
businesses and services. Business organizations now have their personal blogs and websites where detailed information about their products can be gotten and orders made. Here we would be exploring the effect and outcome of online business.
Outcomes Of taking your Business Online
The first result of engaging in online business is instant communication. One on one message is fast gaining ground on the internet today. For instance, Facebook alone has more than 900,000 millions of users around the world. Studies have shown that more than half of these users are youths. Today, youths spend more time with their phone on social media than on other channels. As a result, taking business to platforms like Facebook, Instagram and others give room for one on one communications between the buyer and the seller. Not only this, this all foster intimacy between the buyer and the seller.
Demands Transparency With the growth of the online business, a customer wants to know more about the company and the product they are purchasing. As a result, it is advisable for companies to ensure they provide detailed information about their product and services. Demand transparency is very key to the growth and success of online business organizations.
For the business that operates with transparency, the result is a tremendous improvement in
customer loyalty and trust. In fact, statistics have shown that the loyalty rate for business with
demand intimacy begins from 94% and above. This comes with a 74% guarantee that an
increase in the price of the product will still make customers stick to it since they trust the
New Breed Of Influencers
Social media outlets have allowed more regular people with lots of followers to become
influencers. The role of product influencers is no longer restricted to celebrities alone. A very
good example of a company that has adopted this is Coca-Cola. The company has moved from reliance on popular influencers to hiring and hosting influencers on their YouTube channels, blogs, and sites.
Also, platforms such as LinkedIn has different influencer whose major qualifications are
engagement and number of followers.
All these and many more are the outcomes of online business.
When we take a moment to reflect on the number of contents business organizations post on
social media every second, the number is so high that it creates what is known as "content
shock" At every single second, more than 3 million people drop messages on the social media. Marketers taking their business online have a lot of work to do.
Drove of Data
Modern technology has made it easy for marketers to gather information about their customers online. However, for this to produce the desired effect, companies need to know when and how to use the data.
For effective results, marketers are expected to know the metric that is more crucial to the
business success and the customer channels that would pay off. With this information, they can create personalized content that focus on the customers need and what they have to offer. Other effects of online business include constant innovation, effective catch-up and so on.
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