“In years to come, we will look back at 2020 as the moment that changed everything.”

The advent of the Internet has created a new and exciting economy, which by its sheer scope and size has changed our perception of traditional ways of doing business. Multinational companies like Amazon and E-bay have come up thanks to the Internet and now dominate areas where, just few years ago, traditional brick-and-mortar companies once ruled.

Even small- and mid-sized companies are making impressive profits by taking advantage of the Internet to conduct businesses. One survey by Harris Interactive, a leading market research firm, found that 81 per cent of small businesses that had an online presence during a holiday season reached new customers, leading to an increase in sales and profitability. Similarly, another study by Gartner research found that 30 per cent of small businesses with a web presence and fewer than 20 employees generated more than 25 per cent of their revenue online.

Why you should seriously consider investing in an online business?

If these statistics are not convincing enough, here are a few more reasons why you should seriously consider investing in an online business, if you haven’t already.

1. You get streamlined company branding

In today’s digital age, people simply don’t take a company or business seriously if it doesn’t have a website. People often quickly check out a company’s product or service offerings and related content online to make quick judgments on the business before they engage with it. That’s why your company needs to have a presence on the Internet, whether you conduct business online or not. Investing in an online business presence is a great way to streamline and bolster your company’s image and brand.

2. You have low start-up costs

Once upon a time, setting up a business online cost business owners a small fortune. Today, however, getting online is not only cheap, but also becoming easier to accomplish thanks to emergence of new technologies. Free website-building tools and open source Content Management Systems like Drupal and WordPress allow you to build a website for free with templates. For less than 10 dollars a month, you can have a full-fledged, self-hosted corporate site with all e-commerce features in place.

What this means is that the playing field for small businesses to compete with major corporations has been leveled. It’s up to you now to step up, take advantage of the low start-up costs, and get online.

3. You have lower risk on investment

Online businesses are generally lower risk than brick-and-mortar businesses because setting one up doesn’t have to cost a lot. Another reason online businesses are low risk is because of their adaptability. With the right investment in terms of online marketing, Search Engine Optimization (SEO), and so on, it is possible to turn a losing business into a profitable one in a relatively short amount of time.

There are also a myriad of unique ways to make money from your website aside from creating and selling your own products, such as affiliate marketing. This means new ways to create an income stream online.

4. You have reduced overhead and operation costs

Because online businesses generally aren’t tied to a location, they require less work to maintain. This is particularly true in cases where physical products, distribution, rent, and other costs are non-existent. In the retail industry, for example, a shop owner can browse and purchase goods for resale from suppliers around the globe without leaving the comfort of his computer desk. How’s that for convenience?

By simply adopting an e-business solution, your business can reduce more than 5 per cent of your travel, repair, maintenance, and operation costs. This 5 per cent savings can turn into 50 per cent of you company’s net profit!

5. You can do business 24 hours a day all year round

Another huge advantage of investing in an online business is that it makes it possible for you to do business 24 hours a day year round. For example, you can set up a virtual retail shop that never closes, meaning you can literally make money while you sleep.

Even when your business closes for the day, automatic online systems can ensure sales don’t stop. In some cases, automatic sales during off-hours can be more than your regular sales during business hours.

6. You have added flexibility

Thanks to the Internet, if you need to work from home, you can. In fact, you can do your work from just about anywhere in the world, as long as you have a reliable Internet connection. This remarkable flexibility is another huge attractor to many entrepreneurs and business owners. It means you can run a profitable online business while also exploring other ventures, or spending more time with your family.

7. You have access to a global customer base

With an online business, you instantly become a global player. That’s because customers from all over the world can learn about and purchase your products and services with just a few clicks of the mouse. For a nominal fee, you can also get access to large audiences on hundreds of e-marketplaces on the net. AMR Research has reported in the past that more than 1.3 trillion dollars worth of goods and services flow through B2B marketplaces online. You really don’t want to miss out on this growing piece of the pie.

8. You have more advanced marketing tools

Marketing is one of the most important components to any business. What makes marketing online more attractive is the tremendous number of marketing channels you can take advantage of. Blogs, podcasts, videos, social media, email campaigns, white papers, eBooks, and a variety of other assets can all be used to attract your target profile. Admittedly, marketing on the Internet is becoming more expensive, but tracking and measuring your return on investment is much easier and advanced.

By taking advantage of tools like Google Analytics and scoring data from online marketing companies, you can monitor not just your customers, but also your business competitors in real time. This empowers you to adapt fast and change your approach and strategies as needed. If conversion rates are low, for example, you can make some tweaks to your website to increase conversion.

In addition, targeting specific demographics has never been easier, especially with the rise of social media advertising. You can now define the audience you want to target in precise detail, and begin to market to those people who are most likely to be interested in your products or services.

9. You can give better customer feedback and support

Advancements in Internet technology also mean that online businesses can now provide better customer support and deliver information more efficiently. Just a couple of years ago, companies used to require days to deliver product or service update information to their customers. Things have changed since then. Today, if your business is online, you can add or make changes to your company info or product description virtually within no time, publish on your site and share with customers on social media.

You can also communicate with customers in real-time about your products or services online. This means improved customer engagement and satisfaction, and ultimately increased profitability for your business.

10. You have improved networking opportunities

It can get pretty lonely running a business. That’s because business owners spend most of their days in their offices working. In the past, a business owner’s only option was to join a local chamber of commerce in order to network and learn from fellow entrepreneurs. Thankfully, the Internet has created a global community of peers only a click away who can relate to the problems, stresses, and excitement of running a business. You don’t have to join a local chamber of commerce anymore to network.

Without further ado let’s talk about the importance of having a website!

Reason #1: Your Customers Expect It

Taking upon the previous point, your tech-savvy customers expect you to have a website to find more information about your business. As for you, your website can help you generate business, increase brand recall value, promote goodwill in front of customers and target audience, as well as deliver strong marketing messages. Think of it this way, your website delivers your marketing message 24 hours, 365 days a year! Apart from e-commerce websites, most professional websites are information-oriented and try to solve visitors’ pain points.

Reason #2: Offers Social Proof

Customer behavior is driven mostly by what others have to say about your business. No matter, if your brand is rated 5-star on review sites like FourSquare or Yelp, people expect to see your website to get more information about the brand. Since prospective buyers are already looking for you online, including customer testimonials on your site is a great way to impress potential buyers and provide social proof.

Reason #3. Control the Narrative

While it is difficult to control what people say about you, you can influence your brand perception by writing your own story on the website. A website is a far more efficient way than print ads or snail mail brochures when it comes to helping brands spread their message, vision, and mission. According to SEOTribunal, there are 5.6 billion searches on Google per day, and 63,000 searches per second on any given day. Imagine, with that kind of search volume, there might be someone online right now looking for your exact service.

Reason #4: Maximize ROI

In the digital transformation era, creating a website on free tools such as WordPress.com and Elementor don’t cost a lot of money, but provides more bang for your buck. A search-engine-optimized website lets you be in front of thousands of more potential consumers without spending much. It can help you reach a wider target audience for promoting your services or products. The content on the website also influences buying decisions and commercial transactions, no matter which industry you are in.

Reason #5: Website Adds To Company’s Credibility

If you want to show the world that you take your business seriously, then it is time to invest in a professional website. In an age when more than 50% of smartphone users discover a new company or product while searching on their smartphones, not having a website can damage your credibility. According to a study, 75% of online users accepted to judge a company’s credibility based on its website’s design. In the end, people are likely to engage with a company they can trust, and the website is the stepping stone towards building that relationship.

Reason #6: Have More Constructive Conversations

The website is your platform to answer all basic questions your potential customers may have about your business and brand. This is especially true for B2B marketing agencies. When people visit your website, they seek answers to basic questions like what you do, your products/solutions, your location, contact details, etc. Once they are satisfied with all that, they decide to either follow up or not. Just remember, when you provide such information, keep it simple and short since consumers these days expect immediate gratification.

Reason #7: Compete With Other Industry Goliaths

Did you know that having a website gives you a fair chance to compete with the giants of your industry? When an optimized website is created, it can rank higher and be at the right place at the right time. Bidding for the right keywords can increase your website traffic and influence your consumer’s journey, which typically begins with research, recommendations, and reviews.

Reason #8: Fading Social Media Reach

If you think having a page on social media is enough to attract new customers, think again. It is not enough to have a Facebook page, because every other business has it. Facebook claims that people in 2018 spent 50 million fewer hours on Facebook than they did the year before. Therefore, many companies are now switching to building business website instead of relying on social media networks only. While social media networks have the potential to increase business, banking just on them can be a huge mistake that can cost in the years to come.

Reason #9: Expand Your Working Hours

Having a website means that your content is available to users anytime during the day, at their convenience. So whether someone visits your website in the dead of the night or during the day, in some way you’re always interacting with them, and can say goodbye to that ‘closed for business’ sign. Being accessible at all times supports marketing and increases sales dramatically, and this is especially true for e-commerce companies. It also is a step towards effective customer service and relationship building, especially if you have AI-powered chatbots enabled on your website that can solve the basic problems of your customers when they need it the most.

Reason #10. Showcase Your Offers

It cannot be stressed enough that a website is the first interaction of your target audience with your brand. How you position your business is totally in your control. Add to it, you can not only display your offerings with features but also provide short video tutorials or downloadable PDF instructions. You can also highlight your awards, testimonials, and all the features that can alleviate your visitors’ pain points. This increases the average time your customers spend on the website and perhaps influences their decision to contact you.

The Price of Being Left behind Is A Lot More Than Having a Website

Having a professionally designed, brand-differentiating business website is critical to increasing sales, boosting the bottom line, and growing your business. It gives you a chance to be in front of the right target audience with your brand’s story. Moreover, having a basic website costs some pennies and can provide huge returns over the long run.

So instead of asking why your business needs a website, ask why not!