Benefits of the internet to business

The internet has changed the way business is done today. Every business from one man to partnership to limited liability company is using the internet to better their trade. Understanding the benefits of the internet to business will help us to be better equipped to use the internet and take advantage of this fast growing trend.

Wide exposure

Before the invent of the internet business owner can only expose and sell their products within their locality. With internet, businesses and companies can sell their products to the world at large through increase visibility to a large population of potential customers.

Effective communication

Decades ago it takes time to send letters to people especially business partners in other country. Today, communication is easier and faster through text messages and emails.

Reduce cost of production

Most work that are done before by physically employed people are now automated and this has help to save time and cost of labour. Also , opening and maintaining store online cost less than physical shop and with minimum inventory and packaging cost. Cost of transportation to the customer may even be zero if the product is downloadable. Cost of advertisement is also low. For instance, many pay-to-click advertising site charges few dollars to drag thousands of visitors to your site. You can also negotiate for buying and selling of goods and services online without leaving your office.

Increase sales

The overall benefit of wide exposure, effective communication and reduced cost of production is increase in sales of products and services and nowadays more people are using the internet to search for products of their choice.

Businesses are open 24hrs / 365days a year

From affiliate marketing to selling your own product and from making money from refferals to having google adsense on your blog, you can make money 24/7 because your business never sleep affording you the opportunity to make money while you sleep.

Great opportunity for small biz

It will be difficult for a customer to know how big or samll a business entity is when the transaction is done over the internet. Small business that cannot afford the cost of renting a large apartment, cost of transportation, cost of equipments and cost of paying a large number of employees can still impress and survive on the internet with the help of their website.
Let us take a business entity that deals with book as a case study. In the real world they might not be able to afford the cost of rentage, printing machine, cutting machine, paper, advertisement, packaging and supply. Meanwhile, with the aid of internet, what they need to do is produce the book in form of ebook and customer can get it through direct sending by email or through downloading.

Ease of payment

The only way we can pay for our business transactions before the advent of the internet is through the exchange of physical cash or bank payment/transfer. So, it is difficult for someone in distant location to pay for product or service especially if the amount involved is not much. Imaging how difficult and discouraging it will be for a person residing in another state or country to pay for a service of 1-5 dollars through the bank. Nowadays, with many online payment solution platforms like Paypal and Libertyreserves among others, one can make payment to and from another nation with the click of a mouse. What a relief to business people.

Increase affiliate marketing and sales

As an affiliate marketer, it is not necessary you own a site where you can sell products directly to customers, you can just provide information about the product then put a link to the manufacturer site or where the product can be bought and you will receive a commision everytime a sale is made through the affiliate link. My point here is that both the owner of the product and the affiliate marketer benefited from the affiliate sale at the end of the day. Though, affiliate marketing is used to be done offline but is now easier, quicker and more effective online and many individuals and business owners are utilizing this golden opportunity.