- Equality – In the world of e-business, when interacting with clients, vendors and customers, no one knows how large or small a business is. With a professionally developed and well maintained website, any small business is suddenly a big-time competitor. Helping level the playing field, e-commerce helps propel small businesses and start-ups to the next level. E-commerce also ensures that more companies use their A-game, requiring them to set the bar higher and higher to successfully compete for customers.
- Order Entry – Customers can easily see what is in stock, 24 hours a day, seven days a week. That is the benefit of real-time inventory software. It helps small businesses save money on hiring experienced sales staff, allowing clients to directly order via the Internet from an order-entry section. This helps sales professionals focus on finding and locating new business, customers and interacting with local ventures to promote and further business opportunities.
- Customer Service – Allowing customer information to be readily available online, customers can quickly check the status of their orders, account history or request return product authorizations.
- Marketing – Research shows that in the first quarter of 2010, consumers purchased an estimated $34 billion of services and products via the Internet. As the world relies more and more on advanced technology, so do consumers – turning to the Internet for vendors, product information and purchasing products directly from companies instead of face-to-face salesperson interactions.
- Geographic Locations – In today’s ever-changing world, having one physical location is actually a hindrance to business and profitability. Offering a product online helps not only local people know about a business and/or products, but allows people worldwide to purchase a product or service.
- Lower Costs – With lower marketing costs and less in-person business expenses, retailers can afford to pass savings directly on to customers, making their products even more competitive. E-business helps decrease advertising and marketing expenses, personnel and real estate. After all, what company needs an expensive primo piece of real estate if they conduct most of their business online?
- Markets for Niche Products – Instead of a consumer traveling to endless stores looking for a product that is out of production, online marketing allows businesses to create niche businesses, specializing in the unusual, unique or out of production pieces that draw their own targeted audiences.
Changing the way the world forever does business, the Internet has revolutionized commerce. E-business is simply defined as Electronic business, the process of a company exchanging information via the Internet while simultaneously placing orders, taking orders, interacting with staff or working with online resources. While e-business is not for every type of business industry, many companies are making the switch. Why?