Keeping Cost Low!
More than a decade ago and counting, we have seen a dramatic shift in print from online to online programming in American media.
With print ad sales decreasing dramatically over the last decade, the Internet has seen an increase in new marketing money from all sectors of the economy.
For example, in 1996, real estate agents, brokers and developers spent $ 755 on newspaper advertising to sell each house. However now, they are spending $ 605 or less per house. For the same period, online spending per household increased from $ 20 to $ 150.
A virtual advertisement or website can rapidly increase the sales of your business, offering a global audience. There is no limit to the risk that your products or services will receive. With companies like Google and Yahoo leading the search engine advertising and other cutting-edge strategies, even the smallest business can reach a worldwide audience with little overhead.
Expanding for a small business, building a web presence, or upgrading the features of an existing site can have a major impact on revenue. Turn-key Internet commerce (or e-commerce) packages are easy to find. There are low-cost website packages specifically designed to meet the needs of small businesses, such as handling online payments.
The Internet has, without question, changed the way people do business, virtually ending the deterrent to starting their own business. The Internet acts as a great equalizer. “There is no barrier to entry now,” says Mark Andriesen, co-founder of Netscape Communications Corporation.
Virtual Office and Internet Marketing are just a few examples of how the Internet has reduced costs for small businesses and made it incredibly easy for them to compete with big business and make a name for their products and services in the shortest possible time.
Why Is This Opportunity For Small Business?
A recent study conducted by the Small Business Administration, the emergence of the Internet has increased the opportunity for small business owners in every market, especially for specialized, or niche, markets.
The cost of starting an online business is lower than before, making it easier for many people to start a business with little start-up capital. Furthermore, with infinite information available on the Internet, consumers have more options than ever, making web presence unavoidable.
Despite the internet goldmine that business owners have discovered, not all barriers have been eliminated. Marketing costs continue to rise and it is increasingly challenging for any business owner with rapidly evolving technology.
The Internet also increases the importance of branding. By allowing small businesses to compete worldwide with big businesses, branding, or the personality that gives your products or services, has never been more important. However, these barriers are actually small compared to the obstacles to be overcome by the emergence of online business.