Saturday, June 2, 2012

Working Smarter: 7 Reasons Your Business Should Be Online

The rate of change in, and adoption of e-commerce is incredible. Increasing availability of technology such as smart phones and iPads at decreasing prices is providing new, innovative ways of buying and selling. There is evidence that businesses that don't adapt the new technology will be left behind.

Paypal's "Secureinsight - Changing The Way We Pay" released in October 2011, a conjoint survey with Forrester Research, Nielsen and the Australian Centre for Retail Studies, provides an excellent overview of the recent state of play in online marketing and ways of paying. From the document, one can deduce seven reasons your business needs to be online. In fact, almost every business needs to be online. Here's why:
  1. In the 12 months preceding October 2011, online commerce has increased by over one billion dollars to $37.3 billion. This is a big pie and even a small piece could increase your income substantially
  2. In October 2011 9 billion Australians were using the Internet to buy goods and services. The number increases daily and emerging technologies are making it easier by the week
  3. Paypal has seen mobile payments increase a whopping 430% with 1,000 mobile transactions per hour. These people are all buying something from someone, it could be you
  4. The Australian Government's National Broadband Initiative is providing more reliable, faster Internet access progressively all over the Australian continent. This means that with more people gaining access, more transactions will occur. It also provides a solid platform for business owners to leverage e-commerce activity where it may not have been available before
  5. Forrester Research predicts an annual growth rate in e-commerce of 12 percent until 2013 and perhaps beyond. Whether it is 12 percent or more, there's going to be continuing growth for some years to come, especially with the Chinese market opening up
  6. The increasing use of technology including QR Codes (three dimensional bar codes) has allowed traditional print media eg, catalogues, to become instant storefronts where customers can use a smart phone or iPad to purchase in situ ... or from the side of a bus or advertising board
  7. While many Australian buyers are buying offshore, 73 percent of e-commerce expenditure is apparently domestic, largely in groceries and travel. Australian consumers go overseas when they can't find a comparable product in Australia. That means there is still a whopping 27 percent of products and services that could replace overseas purchases. There's truly room for everyone to participate in the era of e-commerce.
Does your firm have a bricks and mortar operation with products or services that could be marketed online? If it has and you aren't yet online, today is the time to do it. Don't miss the boat!

Robin

1 comment:

  1. It doesn't cost much to go online ... even if you only have one page with contact details etc. GDI at http://www.web-names.ws is a good place to start, only $10 per month.

    ReplyDelete

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