Reaching the year 2020, we had wondered many years ago how technology would affect the future. Now we are living in the future and we have seen the greatness of tech and how many businesses have been able to advance because of it, especially the online ones. The global retail eCommerce market is estimated worth $3.54 trillion, accounting for 14.1% of the total global retail market in 2019. The figure is only bound to grow with increasing broadband internet penetration and awareness about eCommerce and digital payments. In the next four years, by the end of 2023, the worldwide retail eCommerce sales would cross a whopping $6 trillion and still pose a big window of opportunity for online retailers.
You may be prepared with all sort of ammunition, like eStore and Online Payment system, to grab a sizeable chunk of the pie, but have you made your online business ready to thrive and stay competitive during the tough competition ahead?
If you thought your online business didn’t need technology to advance itself, perhaps you should take a look at how technology has impacted some of the most successful ones to date.
Online businesses have gained a massive online presence through companies, like Probella, which utilize these tools to expand and connect with users. Search engine optimization boosts your site on Google which gives users preferential access to your site above others.
The internet has been a great addition for businesses, without the internet SEO and link building wouldn’t be possible. Email’s and outreach technology be in existence. Technology has created the internet and through the internet, technology has evolved and created a number of tools which are used to enhance businesses.
One of the tools of the internet made possible through technology is social media. There are over 2.7 billion internet users who are active on various social media platforms, and the largest among all is Facebook which is used by 2.4 billion internet people on a monthly basis.
These platforms have been digitally enhanced to create online portals to services or business brands by connecting businesses with users. Users are able to connect with businesses and share experiences which, if your business has a good online reputation, your business is bound to thrive as users compare reviews and complaints online.
Technology has impacted the mobile industry and through modern smart devices, businesses are able to create web applications which create a more convenient service delivery experience. Mobile applications aren’t even necessary for businesses who haven’t the capital to invest in the development of an exclusive app because most sites can now be accessed via mobile browsers thanks to HTML5 technology.
Through the latest and most secure encryption technology, online businesses have been able to adopt a number of acceptable payment options which is brilliant for online users as they are able to purchase and pay using their method of preference. This almost doubles the percentage of possible buys as customers are actually able to purchase the service or product.
Online users are able to improve their services through surveys and questionnaires built through programs used on the internet. This gives business owners better insight as to where they need to improve and how they can evolve to bring in new clients based on demographic preferences. Online businesses are able to target the exact users they need to boost sales and databases.
Technology has grown millions of businesses over the years and thanks to the continuousgrowth of modern tech, there are always improvements and a promising future to look forward to. As an online business owner, you are treated to many free tools which have been developed by technology and work when integrated with your business. Find out how you too can expand your online presence and technology to increase sales and expand your reputation.