- 15 Oct 2020
- Reading time
- 2 minutes
In the UK alone, there are more than 5.4 million registered businesses in the private sector. The number of UK businesses is increasing year on year – and a growing percentage of these companies now have at least some form of online presence.
Whether it’s a shop on a local high street which has recently launched a website, a small business which runs entirely online, or a multinational company with a huge digital following, it’s never been easier for professionals to cash in on the benefits the internet can bring.
In this article, we’ll be exploring why more and more businesses are moving online.
Online Software Increases Efficiency
Gone are the days of endless paperwork, manual filing, and having to put their important business contracts in the post! With new software such as the Shopify order management system at their fingertips, today’s companies can enjoy the increased efficiency which digitisation is rapidly bringing about.
From automated invoicing and cost management programmes to inventory trackers and e-commerce platforms, software is able to streamline a variety of different business processes. This means that business owners can spend their spare time building their brand as opposed to carrying out lengthy admin tasks.
An Increased Target Audience
Thanks to the internet, the world is now our oyster. One of the main reasons why so many businesses are moving online is the fact that it gives them access to a huge target audience. The customer base of a local company is limited to the people who can physically travel to its premises. By contrast, a business which operates online is able to reach a massive customer base, on a national and potentially international scale.
Digital Marketing Brings in More Traffic
Social media, email newsletters, online adverts – the world of digital marketing has revolutionised the way people can do business online. It’s never been easier to engage with new customers, as online channels provide multiple ‘funnels’ to boost your brand exposure. In fact, this form of marketing has proved so successful that it’s even got its own name: social commerce.
Another key reason why more and more businesses are moving online is the lure of digital analytics. Tools such as Google analytics, customer journey heat maps, and search engine optimisation (SEO) trackers mean that companies can easily visualise their professional performance. These provide valuable insights which can help business owners adapt their strategy to win as many customers as possible.
A company which operates solely online has far lower overhead costs than one which owns a bricks-and-mortar premises. Not only are they spared the cost of rent (which is often on top of the cost of bills, office maintenance, and potential refurbishments), they are also less likely to need to cover additional expenses such as travel. Why spend £100 and all day visiting a potential client in person, why you could embrace free online tech such as webinar hosting platforms and video chat software?
With so many benefits to moving your company online, the real question should be – can Britain’s businesses afford not to?