The internet has seriously changed how consumers shop and businesses sell, for this reason many businesses are rebuilding their business from the ground-up to reflect these changes. For the small business looking to modernize, the net can become an overwhelming place to gleen information on how best to adapt; what follows is a summary to bring business leaders out of the dark ages and into the digital age.
Local businesses tend to fail because they cannot generate the revenue needed from local consumers — this is in large part due to the internet which makes sales easier, cheaper, and faster in many cases. A Deloitte Digital Study from 2014 found that the internet plays a roll that constitutes 36% of every dollar spent in retail stores; in short, marketing over the net can help small businesses increase their sales potential. This fails to address the issue of a geographically-limited customer-base however; taking your sales to the internet can alleviate this issue on the other hand. Global e-commerce is responsible for over one million dollars in sales every 30 seconds thanks to the anywhere accessibility enjoyed by mobile device users. Reinventing your business through the internet is one of the most crucial developments your business can take to stay relevant in an evolving world.
Modern Payment Services
As businesses and consumers and getting smarter, so too are thieves. Since the internet is a global marketplace it, like any market, has thieves ready to take advantage of those without protection. In 2013 credit and debit cards contributed to $4.6 trillion, over half of all consumer spending for the year; for this reason credit and debit cards are targeted with advanced software that leads to identity theft. Offering secure payment options needs to be a priority for all businesses looking to survive regardless of whether they operate online or in-store. Partnering with secure payment services can ensure that businesses and consumers alike are protected from theft, which gives worried consumers the peace of mind anyone should have when making a purchase.