Benefits Of E-Business
E-Business can be defined as any kind of transaction or exchange in which an electronic medium is used to facilitate the entire or part of the transaction. The purchase of goods and payment for the same has undergone a complete change in the past few years. Nowadays there are millions of companies who operate and conduct their businesses through the internet. A few companies combine the information available on the internet with their age old business formats to achieve better results. Traditional businesses who want to make a shift to e business need to invest huge resources in developing a new game plan. But, once this investment is done e business brings numerous benefits for the investor. Some of these include:
1.Reduction in overhead cost.
Although transition of traditional business to e business requires a lot of cost, but once the process is complete the cost of running the business is reduced. The company doesn’t need to have a retail outlet, which otherwise would have cost huge rentals.
The most significant benefit of running e-business is that a company gets the opportunity for global presence. Firms engaged in e-business are available for a nationwide or worldwide business. IBM was one among the first few companies, which used the term e-business for serving customers and team up with business partners all across the globe.
3.Economies in marketing and promotions.
When businesses market their products through the internet, it guarantees their worldwide reach at very nominal prices. Uses of advertising methods like PPC advertising make certain that advertisers pay just for advertisements, which are actually viewed by the viewers.
4.Opportunity to enhance sales.
The e businesses are known and advertise to a larger number of people all across the globe. Such businesses thus have greater chances of enhancing sales serving people all across the globe.
5.Improved customer services.
The use of internet in doing business has resulted in superiorÃƒÆ’Ã¢â‚¬Å¡’Â customer service. The customer can place their queries on the website and get instant replies for them. Companies can also provide their services immediately on receiving the complaint from the customers. This results in improved customer services and enhanced customer satisfaction.
With so many benefits of e-business it is important that companies take a look at their traditional forms of businesses and find alternatives for combining the concept of e business. This will not only bring huge profit, but also create a long list of satisfied customers.