The pace of technological development is rather mind-boggling. The possibilities of the Internet alone are enough to zap your mind, as the ‘World Wide Web’ becomes the latest buzzword.
Yet, don’t make the grave mistake of dismissing ‘jumping on to the Internet bandwagon’ as just another passing, if hugely popular, fad.
The cyberspace and its accompanying Internet technologies are dripping with potential, limited only by the extent to which companies can exploit them.
Tapping the advantages of the web will help in many, many ways ranging from daily operations to new business applications, from analysis to disclosure and from collaboration techniques to expanding customer markets.
In other words, utilising the Internet is a cognitive process that will drive value in any given situation. Add to it the current economic downturn and it remains the only viable avenue for maximising performance, cutting costs and maintaining profitability. So, embracing this new trend is quite imperative for remaining competitive in the changing marketplace.
Reshaping business: The realm of web impact knows no boundaries with everything from innovation to competition moving to an online platform. It opens up great opportunities in varied domains like:
Building presence: With the Internet spelling the dawn of the new market space, many organisations (depending on their nature and scale) have to build an Internet presence. This is possible by hosting a company website or blog that keeps interested people abreast of varied information like the company activities, operating hours, mission, goals, corporate culture and recruitment requirements.
Making connections: The net is the new medium for building and maintaining customer relations. The company can reach customers quickly, keep them informed and also collect data on their needs, satisfaction and other feedback.
As a top Internet consultant opines, “The web can help you reach more interested customers than you ever thought possible and give you unique ways of always keeping your business fresh in their minds.”
Promoting products: Companies are always looking for new marketing channels and the latest one is the net. Web advertising is indeed persuasive, timely and cost-effective as it eliminates the lengthy and costly process of designing, printing catalogues, constantly posting marketing literature to customers and so on. New offers and products can be immediately emailed to numerous customers or posted on the company website.
Expanding markets: People are increasingly turning to the net not only to research but also buy varied products and services. A professional website coupled with cutting-edge net marketing strategies is very effective when it comes to increasing Internet sales that too, often at lower prices. Everything from taking orders, filling them and collecting payments can be easily fulfilled on the online forum. This e-commerce also enables interested companies to expand their business to international markets.
Setting strategy: The Internet also proves very useful when it comes to mining information on the markets, fine-tuning complex pricing strategies or differentiating pricing structures.
Collaboration: Collaborative web technologies like teleconferencing, videoconferencing and the like have opened the doors for building alliances and cooperation among employees scattered in the remotest of locations. Again, company intranet systems help in connecting employees and sharing important communication within the organisation.
The Internet is also equipped to meet the demands of the connected world by enabling dissemination of information and gaining feedback, all at the mere click of a button, or may be two.
Flexibility: The net brings new paradigms into play as companies can offer their employees flexible work plans. Telecommuting is made possible, as employees can remain connected from their home base or even while travelling.
This proves especially useful for cutting down costs in today’s tough times.
Needless to say, the reach and scope of the Internet is not only unbelievable, but also expanding by the day. It can help you to accomplish business objectives, maintain efficiency and attain prosperity.
Yet, using the web as a business tool throws up some unique challenges.
You need to have a well-planned and executed strategy for utilising the full profit potential offered by Internet technology. It will require both new infrastructure and skills, as you first have to equip employees to be able to use the Internet capabilities.
This has also led to the mushrooming of a breed of trained and certified Internet consultants who can help companies to remodel their business and thus, increase their competitive advantage.
To sum up, the web is no ‘fashion trend’, but becoming a driving factor for businesses to stay viable and increase the productivity of their workforce!
PAYAL CHANANIA
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