Research shows that an increasing number of consumers are using social media to buy products. Online sales allow you to build relationships with your customers, make purchases easy and fast, you have lower costs and are certainly an advantage over classic in-store product sales.
Successful internet entrepreneurship requires a lot of work, effort, dedication, constant learning, testing and constant progression.
You do not need a downtown shop, maintenance costs, labor, salaries, depreciation, renovations, outfitting, and the like to start an online store. All you need is hosting, a domain, a proper platform – the look of your store.
Of course, all that needs to be set aside is money, but nowhere near that amount will be the amount you would need if you opted for a classic sale. There will be no concern about employees, their training, pay and facilities. It may be a one-off cost, but lasting will be a great saving.
This sounds all too easy for you to be true now, doesn’t it? You just have to build a website and your business can start. Don’t just think about the amount of money you will save, because this offer a number of other benefits.
Let’s see what are the other benefits of internet entrepreneurship, what it has to offer, as well as present potential flaws because nothing is perfect.
Great benefits compared to classic business
We are talking here first of all if your business is based on some kind of sales. This is where the greatest benefits lie. Internet sales prevailed over regular sales. You also have no limit on where all your business reaches customers. It is not necessary to live in the same city. You can even work with clients in other countries.
Your cost with internet entrepreneurship and sales is less than direct customer contact. Let’s see where and how you can save if you opt for this type of business:
-Your online sales, in fact, the store where you sell your products, should not be flooded with products, as is the case with a classic store. If you are just starting out, the advice is to focus on quality, not quantity. Start with one product, and once you reach a large number of people and customers, you can easily expand your offer.
-Online sales require a cash register and invoicing, so please provide an accountant with experience in online business.
-Fewer employees – lower costs.
-No need to buy office supplies, travel expenses and other expenses.
The Internet allows you to personalize your offer in a variety of ways. Also personalize the profile of the buyer. This way, every buyer can keep track of their purchases, and you can create targeted deals that meet the buyer’s needs and interests.
Even though you think you cannot have contact with your customers because you do not have face to face contact, this is not true. If you design your business well, you can definitely get in touch with them. When they buy something, you can send them an email to thank them for their purchase and the like. You can also send them promotions and discounts so they feel they are important to you.
This is what I allow you and your clients to be available around the clock. You can do whatever you want, and they can ask for your services whenever they need it. Ideal for both parties.
Advertising in newspapers, radio, and television costs a lot. In addition, only those who are passing by or living nearby or if someone has recommended you will come to see you. For you, as a beginner, this part of spending money and investing in advertising can be the biggest challenge. However, you are at the beginning and you should rationally dispose of the money. Experienced agencies like Rallio can also assist you in this endeavor.
Your customers can be located anywhere in the country, even abroad, which is an advantage as the ad reaches more people. If we focus on the internet then your advertising will also be through a promotional email, which you can forward to a large number of addresses. Just imagine sending single mail or printing flyers, and you want to reach those overseas buyers. It’s not very profitable, is it?
Internet entrepreneurship just allows you to let a large number of people know when there are discounts or some interesting offers.
As you can see, you will not need much money for this type of advertising of your products.
Internet business flaws
Reading everything we talked about before, you get the impression that the internet business is the best thing for you and say to yourself “So what have I been waiting for so far”. How did you not know that internet sales have so many benefits. Yes, that’s why it is expanding so fast and becoming more popular. However, there are some disadvantages to this type of sales. Certainly, there are quite a few, but we should mention them.
There is always a risk for this, but it is up to you how skilled and courageous you are to get into this kind of work.
Be careful with discounts. While this seems like a great way to attract customers quickly, it may not always be the case. Maybe it was just the reduced price that drew them in and it won’t come back.
Make an effort to strike a balance and avoid promotions too often.
Lack of personal experience
Most people, no matter what the product in question, like to take the product in their hands before deciding to buy it. In this way, as if the customer is convinced of his true value, he may be able to see some flaw, to see what material is in question, to simply be convinced of everything that is written in the product description.
This is not possible through online sales and this is considered a major flaw.
As you can see, the internet business has more advantages than disadvantages. It is up to you to make the best possible presentation of what you have to offer. After that, you need patience and your business can start.