Online Market Reaches 1 Billion Users – Is Your Business Reaching These People?
Consider to bring your business online, or starting a new online business, but weiry of becoming just another website among the million of business websites online today? Consider this – the Internet is growing at an annualized rate of 18% and now has reached one billion users. A second billion users will follow in the next ten years, bringing a dramatic change in worldwide usability needs.
Does your business service to a fraction of this 1 billion market population?
The online market still has tremendous opportunities for those businesses who understand how to leverage the web for business, and understand how the various online marketing channels can work seeminglessly to attract, convert and retain thier market segments.
While the notion “build it and they will come” still exists with some businesses, many either quickly learn the errors of their ways, or simply give up thinking the Internet just has no use in their business. Many businesses still retain a basic brochure website, functioning as a stand alone proud piece of art – however those people are truly missing out capturing a fraction of this 1 billion user market. For these businesses, take a fraction of the cost invested to get online and invest it into some Internet marketing and business consulting services and learn what opportunities exist to intregrate the web as an integral piece of their business.
According to Morgan Stanley estimates, 36% of Internet users are now in Asia and 24% are in Europe. Only 23% of users are in North America, where it all started in 1969 when two computers — one in Los Angeles, the other in Palo Alto — were networked together.
So what opportunities exist for your business online?
- Global access for customers to research your product and services
- Ability to offer global online commerce / Purchase online
- Integrated communication for businesses (ex. agents stay connected)
- Sustain business relationships with dynamic dialogue
- Retention vehicle for your customer base (customer lifecycle retention email programs)
- Acquisition vehicle for attract new customers and building market share
- Conversion tool for leads
- Availability to business and marketing information
- Improved competitive edge
- Expand customer base and target audience
- Increase referrals and word of mouth
- Boost sales, repeat business and customer loyalty
- Save time and money by reducing marketing costs
- Build customer trust / Protect your customers privacy
E-commerce will continue to grow. It typically takes people two to three years from when they first get online to feel confident enough to buy from websites. This means that e-commerce sales will at least double (ecommerce and estore website development services) from their current level when more of the current billion users start shopping online.
By 2015, Americans will be less than 15% of Internet users and will likely account for about one-third its value (Americans typically spend more than other users). The fact that two-thirds of Internet revenues will come from other countries highlights the growing importance of opening your business to the international market.
All in all, if you’re considering to leverage the Internet for your business and tap into this +1 billion market, due diligence first and seek out to devise a web marketing assessment and web marketing plan. This will help you understand where to best invest in the multiple Internet marketing channels to capitalize on this 1 billion user market.
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