The Internet’s Role in Traditional Business
Society and entrepreneurship as we know it have come a long way since the World Wide Web opened to the public in the ‘90s. The digital revolution is not merely an upgrade of existing processes but a fundamental shift that impacts every aspect of business. The Internet has essentially transformed traditional business practices, reshaping how companies operate, engage with customers, and generate revenue.
What’s considered a traditional business in the first place? Traditional businesses are typically establishments that deliver physical products or services that were relevant decades or centuries ago and remain so today. They are unlikely to disappear anytime soon. Food shops, clothing, accommodation, transportation, and self-storage are a few among so many.
Here are the top 5 ways the Internet is transforming traditional businesses.
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A strong online presence through a map pin, website, mobile app, and social media channels allows for wider audience reach and precise targeting simultaneously. Online ads have replaced paper-printed advertising and search engines have replaced the ‘Yellow Pages’. Though the decades-old slogan “let your fingers do the walking” is still somehow true today, fingers are now running/scrolling through mobile device screens instead of the fine print on big, bulky phonebooks of old.
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While physical shops and marketplaces still exist, most, if not all, shopping can be done digitally. Practically anything can be ordered and paid for online and delivered to one’s door, whether from a business’s own website or mobile app, or from giant virtual marketplaces like eBay, Amazon and Alibaba. And it’s not only about shopping for products. Even services can be booked, reserved or subscribed to online - from classes and news to taxis, hotels, and, yes, self-storage.
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As shopping gets easier for customers, business processes, on the other hand, get streamlined through automation, reducing manual labor and errors. The Internet enables scheduled payments, inventory management, and accounting to happen automatically. In the self-storage industry, automated gates, climate-controlled systems, motion and water sensors, and self-service kiosks are all made possible by digital connectivity.
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Whether between business owners and their workforce or the company representatives and the customers, thanks to the Internet, communication can happen real-time regardless of each person’s geographical location and timezone. This is made possible through live chats, video conferencing and Voice over Internet Protocol (VoIP) technology. Inquiries can be addressed and concerns resolved immediately, or sooner rather than later. Imagine a customer having difficulty accessing their self-storage unit very early in the morning and receiving assistance from a live person over the phone halfway around the globe, while the business owner is on holiday in another country.
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The internet has ushered in the era of big data, providing businesses with unprecedented access to information. Data analytics tools enable businesses to collect, analyze, and interpret vast amounts of data generated through online interactions. These valuable insights help businesses anticipate market demand and consumer behaviour, personalize marketing campaigns, optimize operations, and improve customer experience.
“Information technology and business are becoming inextricably interwoven. I don't think anybody can talk meaningfully about one without talking about the other.”- Bill Gates
Embracing Digital Transformation
The Internet's role in traditional business is undeniably transformative, driving innovation, efficiency, and growth. To succeed in the ever-evolving digital landscape, businesses must remain agile, adopt new technologies, adapt business models, and invest in digital skills. By embracing digital transformation and utilizing the power of the Internet, traditional businesses can unlock new opportunities, enhance customer experiences, and achieve sustainable success.
From digital marketing to call handling services and remote management, Nitro Impact harnesses the Internet and its associated technologies to help businesses thrive.