Task 3d (task 2 extension)

In this task I am going to explain the possible benefits to the business and customers in developing an online business.

The online business can provide many opportunities and benefits. There are many different ways to do business online and satisfy all the customers' needs. You can provide a wide range of services online. Offering many services online provides opportunities for you to reach more customers and succeed in a competitive marketplace.Customers may prefer to visit your website to find out about your products and services and buy goods online, instead of going to the shop.

When you are planning the online business, you should:

• research your competitors and other online businesses
• decide what aspects will benefit your online business
• review your budget to work out what you can afford
• familiarise yourself with any laws and regulations that will apply to your online business activities
• consider your requirements, including what software you need and what types of computer equipment you need to run it
• plan for risks, such as computer viruses, scams, data theft and loss of or damage to hardware
• think about what training you or your staff might need
• be realistic about the time and budget you will need to manage your online business

How you manage your business online will depend on the products or services you offer. You may be able to use the internet to:

• run an online shop
• manage your suppliers
• communicate with your customers, and get their feedback on your business
• offer services online
• allow customers to make reservations or appointments online
• manage your finances, such as online banking, tax and employee pay
• research competitors.

The many benefits of online business include:

• Global access, 24 hours a day, 7 days a week
• Improved client service through greater flexibility
• Cost savings
• Less paper waste
• Opportunities to manage your business from anywhere in the world
• Financial benefits
• Faster delivery of products
• Time saving
• Helps these who live away from shops
• Different methods of payment

 One of the main benefits is the cost saving. There are minimal start-up costs to create and run a website. To create a website you need to spend minimum money and it is ready for only few days.
You can offer online feedback forms for your customers. This can help you recognise problems and improve customer service without losing customers. Also it will help you to target the right audience more effectively.

Running an online business is the most effective way to reduce a company's carbon footprint. Fewer staff are needed and your employees can work from home - save on travelling and utilities costs. You can run your business from your home and even when you are on holiday. It saves you time and a lot of effort. You don't need to have premises or to pay for utilities.

 The online shopping is very helpful for people who don't live near to any shops.

Also a good benefit for the customers is that the courier companies can allow them to track their orders online. This gives customers an idea of how long they need to wait for a delivery, so they can make sure they're home when a delivery is due.
Your online business will be open 24 hours a day, 7 days a week and 365 days a year. If you are running an E-commerce website then your business can make money for you while you are sleeping or doing your hobby. Potential customers can browse the products and services, and review them whenever they want from the comfort of their own home.

The internet is, also, a great and very effective tool for marketing. Online advertising is affordable and easily tracked which means you see what communication is working and what isn't. Email marketing is also a powerful tool to help raise brand awareness, build relationships and advertise your business effectively.