The internet has grown explosively in the ten or so years that it has been in widespread use,and internet marketing has grown along with it. Many factors contribute to making the internet the ideal business medium.
Let’s examine a few.
Low Startup and Overhead Costs. Even as recently as five or six years ago, it could cost one hundred dollars or more to register a domain name, and a similar monthly fee to host a web site. These days, both of those costs are down to around $10 US. An HTML editor can be had for around $50 US, or one can subscribe to a service that provides hostingand an online web site editor for as little as $20 or $30 per month, and includes many other features and services in a “one-stop” package. Unlike a traditional “bricks and mortar” business, an online business requires no expensive leases, no employees, no commuting time or expense, little or no stocking of inventory, and little or no shipping expense.
Portability and Flexibility. Most of us live where we do because of our work. We were recruited to a specific area due to a job, or moved there for the availability of jobs, or can’t afford to relocate, because of the expense and potential interruption of income. When you own and operate an online business, however, you are not geographically restricted. If you need or want to travel, you can continue to operate your business with a laptop computer, and access to a phone line. If you want to move to another location for any reason, such as family connections, environment, or recreational opportunities, you can relocate your internet business without any interruption. An online business affords you the opportunity to work as little or as much as you like, and set your own hours. You control the business, rather than the other way around.
Multiple Income Streams. Once you’ve developed one online business, you can easily develop a second, third, and fourth online business. You have the option to focus each of these businesses on different markets, or different segments of your primary market, thus giving yourself several streams of income. Just like diversifying a stock portfolio, this gives you some “insurance”, in the sense that if one of those income streams dries up, you still have several others, and can develop more.
Expanded Marketing Reach. Unlike a traditional business, which most likely is restricted to a limited geographic area, an online business can have customers located around the world. The numbers of people who sign on to the internet on a daily basis, and the numbers of new users, boggle the mind. All of these people are potential customers for your internet business, and their numbers are constantly expanding exponentially.
Opportunities for Automation. Nearly every aspect of an internet business can be automated. Order processing, credit card processing, drop-shipping or electronic delivery can all be automated. Your business can operate 24/7, with little or no human intervention required. Autoresponders provide an opportunity to automatically or semi-automatically remain in contact with customers, and recruit repeat business. Software exists to automate nearly every aspect of your online business.
Niche Marketing. When marketing online, it is easy to develop and sell products that are designed to appeal to a relatively small niche market. Whereas the cost of production and marketing might be prohibitive in the offline world, working online allows the entrepreneur to develop a product designed for a very narrow market, yet sell it successfully.
Most people would probably agree that the internet is as important and potentially revolutionary a communication device as were the printing press, the telephone, radio and television. When you think about it, you must agree also that it is the ideal marketing medium, and an entrepreneur’s dream come true.