| Online Vs Offline – How To Make The Decision

Posted in Small Business at 4:00 PM by Loftis Consulting

It doesn’t matter what business you own because you’ll always want to go online. Far too many people assume it’s the best idea such is the emphasis on everything web-related. The truth is that an online business might make be a huge success, but it might be a failure too. Before you make a decision, it’s vital to weigh up the pros and cons. Only then will you have the necessary insight to come to the correct verdict. To help, you will find a handful of tips below. If you consider all of the following, an online or offline firm will prosper.

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Doesn’t Work

No one wants to hear this, but it’s true and something you have to consider. Lots of businesses struggle to make an impact on the web because the firm requires a physical presence. Not only that, but the company also has to be present at certain times to maximize the chances of success. For obvious reasons, that isn’t possible with a remote platform. In essence, the company won’t translate; pure and simple. Of course, a digital presence is still essential, so marketing online and a website is obligatory. However, selling products and services online might be a stretch. If your business falls into the category, don’t waste time or money trying to make the switch.

 

Tailor Made

On the flip side, some offline businesses work better online. The reason for this is due to the increase of potential customers. Particular products and services only have a small base offline, whereas that base grows online. Take industrial machinery as an example. Consumers that need to make a purchase won’t choose a physical store due to the logistical problems. Instead, they will go online and use search engines to finalize the deal. Anyone that understands this trend can take advantage by investing online and integrating a Magento app. With more online investment and an eCommerce site, the stock will fly off the shelves.

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Fixed Hours Vs Flexible Hours

You will often hear people saying that an eCommerce company is great because it never closes. Although this is beneficial to them, it might not work for your business. Most offline businesses operate during fixed hours for specific customers. As a result, they don’t tend to think about business outside of these hours. A switch to a 24-hour site, then, won’t facilitate a healthy ROI as their mentality is the issue. If they prefer the flexibility, the profit stream will skyrocket. So, are your customers old school or are they looking to change?

 

Trust

The sad fact is that online businesses don’t inspire confidence. Thanks to hackers, the cyber highway isn’t a safe place to store your card details. Indeed, plenty of customers won’t if they feel like the site isn’t secure. For a company that trades on trust, this could be disastrous. As soon as you compromise your main selling point, the sales will decrease. If the aim of going online is to make more money, lower sales won’t help you hit that target.

Customers are only loyal for a handful of reasons, and trust is high on the list.

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