October 1, 2022
digital Marketing

Concept of digital marketing media (website ad, email, social network, SEO, video, mobile app) with icon, and team analyzing return on investment (ROI) and Pay Per Click (PPC) dashboard in background

In this age of technology, the Internet has revolutionized the ways of conducting business. With more and more people turning toward digital technology and the internet, it is becoming increasingly crucial for business organizations to establish their online presence and to grow their business with the help of digital marketing agency and tactics. According to Statista, the number of internet users is greater than 4.2 billion Internet users around the world in October 2018, and with more than 465 million internet users India ranks as the 2nd biggest market for online services in the world just behind China and will increase to 635.8 million in 2023.

Internet shopping is a trend that has grown significantly in recent times, as customers are also searching for internet-based services, which include mobile apps, web development multimedia design, and web hosting, to mention a few. A look at the exponential expansion of the industry indicates there’s still a large potential market for eCommerce. The ease of shopping online has led to it being an emerging trend for customers, especially Gen Y. The widespread use of online shopping has brought the interest of business organizations to pay attention to this sector since people are buying items and services, as well as experiences on the internet. The Indian E-Commerce market has grown exponentially in the past few years.

According to a study by Statista that close to 329.1 million customers are predicted to purchase products and services on the internet in India in 2020. This means that approximately 70.7 percent of internet customers across India will have bought products on the internet by the date. The report further predicts that the sales of retail e-commerce in India to explode and is expected to grow from sixteen billion U.S. dollars in 2016 up to 45 billion U.S. dollars in 2021.

Another study from Statista declares that in India the total value of transactions for digital transactions was 50,215 million U.S. Dollars, and is predicted to grow at a rate of 19.6 percent over the next few years, resulting in a total of 127,235 million U.S. dollars by 2023.

Factors affecting Online Market

Customer’s Perspective: 

While there are numerous variables that affect consumers in their buying decision, the buying decision-making process begins long before the purchase. Most often, customers research the item, and later, independent elements like the price, availability of the product, ease of use, company name, refund policy, and promotional offers influence the buyer’s choice, as the purchasing ease plays an important role when purchasing on the internet.

Let’s consider the case of Amazon as an example. When it was first launched, Amazon used to sell only books on its site and within one month of its launch, it had shipped more than 40 million volumes. Since then, Amazon has expanded at a rapid pace and is now one of the largest online retailers. There are many aspects that Amazon has accomplished through its online business model such as a user-friendly interface, simple use of mobile phones and easy return policies, etc. This is evident in the customers preferring the ease of buying online.

Utilization of Smartphones 

It is an ideal time to realize the importance of mobile advertising from an enterprise standpoint. It is now a requirement for all businesses to have a prominent mobile presence on the market. Many people prefer using smartphones over PCs because of their accessibility and ease of use. Mobile marketing opens up a world of opportunities for businesses on a vast scale. Like no other device smartphones let businesses reach an extensive number of people in a customized way.

The rising use of smartphones is also evident in the numbers. According to Statista mobile retail sales of e-commerce in India reached 6.02 billion U.S. dollars in 2015 and are expected to rise to 37.96 billion U.S. dollars in 2020.

The benefits of the online presence of the company

Enhance the accessibility to potential customers: In the times when Google search provides all the data, people aren’t putting much effort into searching for a specific product or company. If someone is in need of details about a product or company, they’re likely to look on the web for it. With the variety of options available, it’s become increasingly important that businesses be online. It will help them gain an edge.

Makes it easier to present your products or Services It is true that the Internet provides businesses with an affordable platform to display their services and products. It’s now a breeze to share with the world what you can provide. With just a few clicks, customers are able to look over what you have to provide and can access it from anywhere and at any time.

Develop relationships with Customers Customers are able to interact with business entities on a personal level and give companies an opportunity to meet their clients. The presence of online platforms makes it easier for businesses to connect with their customers as they are the most efficient ways to establish relationships with their customers.

Real-time results and greater Revenues If you have an online presence, it’s much easier for businesses to determine their revenue. With more impact, less cost, and more leads, any business could enjoy the maximum benefits and make more money. It also allows you to view the real-time outcomes of the number of visits, conversions, leads, downloads, and sales in just one click.

Modern businesses must make sure that they do not fall behind in the competitive curve. An online presence is one of the most significant investments businesses can make in these digital ages. The benefits are innumerable!

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