Why is Having a Digital Presence Vital for Your Business?

This is our second blog by an external guest contributor, Kym Wallis that should be of  interest to our subscribers. Kym’s bio is at the end of this blog. Our aim is to publish a business or management blog on the first day of each month.

Why is Having a Digital Presence Vital for Your Business?

Today we live in a digital society and having an online presence is easier than ever before. A couple of decades ago, business websites were only employed by large companies with huge budgets.

Thanks to the proliferation of affordable development technologies, search engines, and social media platforms, companies of all sizes can now take advantage of the internet.

Below, we’ll go over some of the major benefits that come with having a strong digital presence for your company.

Migrating to a Predictable Model

Before delving into the importance of having online representation, let’s look at the value of moving to a predictable marketing model. Besides lacking granular targeting capacities, traditional marketing methods are characterised for being unpredictable and expensive.

It’s extremely hard to calculate their profitability, therefore you never really know if your investment is worthwhile.

Digital platforms allow intricate tracking and provide a large amount of data you can use to turn your marketing campaign into a predictable source of revenue. You’ll be able to see the number of visitors you have and how they behave. What’s more, you’ll get an idea of the return on investment and make sure your funds are actually being used to improve your company.

6 Reasons You Need to Have a Digital Presence

Although it’s extremely important, there is no exact definition of a “good” online presence. This will vary according to your location, the industry you’re in, and the niche you serve. Some companies can get away with setting up a good site, while others need to deploy social media accounts and other digital channels simultaneously.

Here are some of the benefits of having good representation on digital platforms.

1. Showcase Your Products and Services

Showcasing your products is extremely important, regardless of the marketing channel you’re using. For instance, most business owners would choose to put their best selling products in the storefront in order to attract attention.

Online platforms work exactly the same, except that you have unlimited storefront space. You can create a page dedicated to your products and services to give potential customers information about the different offers you have available.

2. Open Communication Lines

More and more people turn to the internet as the first point of reference when looking for products and services. Opening online channels will help improve communication with your audience as they’ll be able to reach you without going out of their way.

3. Invest Into Trackable Marketing

There are dozens of different online marketing strategies out there, but all of them provide the ability to track your campaigns. Not only this, but the vast majority of digital platforms also allow you to adjust your ads or promotions after they have been launched in order to get the best results.

4. Build Trust with Your Audience

Creating a strong online presence through reviews and testimonials can help build trust with your audience. This works exceptionally well for small companies that serve a local community, even if they don’t offer online services!

5. It’s More Affordable Than Ever

As mentioned before, the cost of developing websites has significantly decreased since the early 2000s. This, plus the development of free social media platforms make it more affordable than ever before for any company to have a strong digital presence.

6. Reach Potential Customers Through Their Preferred Channel

There are more than 3.5 billion active internet users that browse the web on desktop computers, laptops, smartphones, gaming consoles, and other devices. Even if you don’t sell products or provide services over the internet, simply having your information online can help your potential customers find you easily through their preferred channels.

Find a Reliable Business Performance Firm

Building a strong online presence requires a significant amount of work. Besides identifying the best platform, you also have to develop attractive content that entices your audience. You’ll also have to find a reliable firm to help you achieve your vision through actionable plans.

At 5-Dimensionz, our team of business performance builders will be happy to assist you in building your online presence. Learn more about our services by contacting us and we’ll be glad to help find your keys to success.

Author’s Bio

Kym Wallis, the founding director of Higher Ranking has over 15 years of advertising sales, digital strategy, and business development experience. He is currently working as Digital Adviser for Catalyst Computers.

Starting a new business?

This is first blog that will be of interest to our subscribers from an external contributor, Kym Wallis. His bio is at the end of this blog. Our aim is to publish a business or management blog on the first day of each month. We hope you enjoy this initial blog.

  

Starting a New Business?

Here Are 10 Things You Need to Prepare!

So, you’ve decided to go into business for yourself but have never built a company from the ground up. Whether you are going to work as a sole trader or are planning to operate a small business with multiple employees working under you, there are things you need to get ready before you can actually open those proverbial doors to business. Here are 10 of the most important things you’ll need to prepare.

1. The Mindset of an Entrepreneur

Remember, you are not going to be working for a boss because now you will be the boss! Everything is going to fall squarely on your shoulders, from finding a sound investment loan to hiring top talent to work with you. Begin with a positive attitude and a willingness to learn from mistakes. If you understand what you need to do and any pitfalls you may encounter, you can make a successful go of it.

2. Business Structure & Type

Before you can do anything, you will need to decide between your options in business structures. Each type carries different taxation and legal requirements, so it pays to understand the differences between registering as a sole trader, a partnership, a company or a trust. As for the type of business you are going to operate, here is where you will need to decide whether you are going to work from your own home or you will need a separate base of operations. These are extremely important preliminary considerations to decide upon before you can go any further in starting your new business.

3. Registering with Proper Authorities

There are several steps involved in registering your business with the proper authorities. You must register a business name, your company, and then get all the requisite permits and licences. If you will be running an online endeavour, here is where you’ll need to register a domain name as well. You can check out the business.gov.au website for information on just how to go about registering your company to do business in Australia.

3. Write Your Business Plan

What new business owners may not understand is the importance of a business plan. This is where you lay out your business model and how you plan to do everything from day to day operations to marketing. If you are going to begin buying investment properties, for example, you would need a sound business plan long before seeking investment property loan information. No lender will even consider underwriting a loan for a new business unless they can see a solid business plan that will result in a strong likelihood of profitability. Without a strong business plan, everything else along the way is probably doomed to failure.

4. Develop a Marketing Strategy

Drawing on the business model of an investment property entrepreneur, one of the most important types of investment property tips in learning how to plan and execute a marketing strategy. Whether you are going to invest in commercial or residential properties unless you can attract renters, how can you expect a good return on your investment (ROI)? Marketing is going to be a key component of any business, but especially when beginning a new venture.

6. A Sound Understanding of Taxes

Ignoring taxation laws in Australia, or anywhere else in the world for that matter, has been the downfall of many a business old and new. From day one, you need to understand how to keep accurate records, which taxes you will need to register, and how to lodge taxes when the time comes. In fact, you’ll even need to when businesses are required to lodge taxes. This is where you might want to consult with a licenced accounting firm.

7. Learn Which Laws Apply to You

If you don’t understand business laws in Australia, you could be in jeopardy of being fined high dollar amounts or, worst case scenario, being closed down by the government for breaking one or more laws. From fair trading laws to complying with the Privacy Act, ignorance is no excuse. Just as you might wish to consult with an accountant for all things financial, you may wish to get legal counsel to help you with legal compliance.

8. Financing and All Things Financial

A majority of new businesses will need financing not only at the very beginning but from time to time throughout the life of the company. Your business’ borrowing power will depend on a number of things, and here is where you will probably want to find a good borrowing power calculator. Along with almost every other startup, you will probably wonder, “How much can I borrow?” That calculator will give you a good idea of how much you may qualify for when seeking a startup business loan.

9. Insurance and Emergency Preparedness

Not only are businesses required to carry such things as liability insurance but there are other types of cover you may wish to consider to protect your investment. Your accountant or lawyer can help you understand which types of insurance you are legally required to carry so that you can begin searching for a provider with reasonable rates. If you are going to be employing staff, an emergency preparedness plan is also going to be required. Such things as evacuation routes and authorities to contact should be posted in highly visible areas.

10. Your Base of Operations

Speaking of highly visible areas, this is the last step in starting a new business before you can plan a launch date. Whether working from home or in an outside base of operations, everything necessary should be on site and ready to go. Besides stock and operational equipment, you’ll need to have key players in place as well. In order for a smooth and profitable launch, make sure you are really ready before announcing your ‘grand opening.’

Once everything is in place and you’ve covered all your bases, don’t forget to work closely with your marketing team.

Kym Wallis1  Author’s Bio

Kym Wallis, the founding director of Higher Ranking has over 15 years of advertising sales, digital strategy, and business development experience. He is currently working as Digital Adviser for Integr8IT.