Statistics released in the year 2018 have shown the world’s population currently stands at slightly above 7.6 billion, with over half of that number comprising of active internet users. This serves as a great reason to revamp traditional business practices and incorporate modern strategies to help you tap into a market of roughly 4 billion people. The trick to carving out a niche in business rests on thinking out of the box. Some of the avenues that business owners are considering revolve around tapping into the global market by creating an Instagram account for the business, increasing their Twitter presence, or even joining Snapchat. Revolutionizing your business must center on tapping into the internet market.
The Internet Has Changed the Way We Do Business
The internet is a force to contend with. It has not only changed how we do business, but even what business we do. Ten years back, the idea of making money off a social media platform was virtually unthinkable, but today, with the rise of macro and micro influencers, it is entirely plausible to make a career out of your social media presence. And that’s not the only job that the internet has created: we would scarcely have imagined before the turn of the millennium, that cryptocurrency would be a viable investment. But over the past five years, we have seen how people who stacked their chips in favor of Bitcoin ended up making thousands when the value of the currency seemingly skyrocketed overnight. The business world is defining new frontiers, and visionary business owners must take advantage of the opportunities that the internet has provided to grow and expand their enterprises.
Online Shopping: Where All the Money Is
If you’ve been in business for a pretty long time, then you probably already have a shop on the ground and may be wondering if it’s truly necessary to set up an online presence. However, you will find that having a virtual presence not only allows you to access a fresh clientele base, but also helps you keep in touch with your current customers. Even if you are a new business owner looking to establish a purely internet-based enterprise, then you will also find that there are multiple benefits that come with online businesses. Some of these advantages include 24-hour shopping, access to a broader market, and the ability to track the number of purchases each person has made. Additionally, you will find that it cuts out the cost of renting out a physical space to sell your wares if you opt for a purely virtual presence.
Time to Jump on the Cryptocurrency Bandwagon
If you are a skeptic, you may wonder at the wisdom of investing in cryptocurrencies or incorporating it into your business. This is a valid concern, but you may find that loosening the cautionary reins this time may actually pay off. You may consider, for instance, accepting cryptocurrency as a form of payment. Some big businesses including Subway, Paypal, and Overstock are already accepting cryptocurrencies as a valid means of payment. This may be due to the many advantages they offer, such as reduced transaction fees, faster payment processing, as well as improved customer access.
Any way you look at it, the future of business is the internet and the resources it offers. If you haven’t already considered how to use it to increase your profits, then now is the time to start.