As the world of business goes online, so are your potential customers. Everyone from Coles to Big W are venturing into ecommerce launching their own online stores and smartphone apps. EBay posted a 32% increase to net income to $3 Billion this quarter ending September 2011, this has bee attributed to users taking advantage of smartphone and mobile technologies. Resent studies show that 7 out of 10 people that are considering making a large purchase are now doing the initial search for models and price online. This is great for big companies with huge SEO budgets that can ensure that they come up on first page search and bulk buying power to keep their prices down. What does this mean for small or medium business? It does not take a financial analyst to figure out what happens next.
It may surprise you to know that you can take your business online and compete with the "big guys" for less than $6000. Imagine having a salesperson that works 24 hours a day 365 days a year and you never asks for leave or payment for overtime and is consistently telling your customer what you want them to hear. You may start to see that some of your largest competition to your business are purely online stores. The only safety buffer for Australian business for the time being is that our market still like to see and touch what they are buying. This is a trend that is rapidly diminishing in the UK, Europe, Asia and the USA.
In today's business environment the question shouldn't be "can I afford to go online?" as opposed to "can I afford not to be online?".
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