E-business is a very vast terms when it comes to businesses processes that aim to target the vendors with consumers using the internet as their mode of communication. The entire process of setting up a website, attracting online consumers to website, displaying the available products and making sales using the internet comes under e-business.
As more and more people are turning towards internet to sell their businesses and buy products and services online, the trend and demand for e-business is soaring. You will find hundreds of websites that are selling everything from clothes to shows, household items to cleaning machines and medicines to food items very successfully and consumers buying from them from all over the world. However, like any other technology, even e-bsuiness has its advantages and disadvantages and pros and cons that have its effects on the society.
This guide discusses the pros and cons of an e-business and how it can be good or bad for the business that you are running.
Pros of E-Business
- E-business gives your business a worldwide presence and this is the best advantage that you could get. You can service customers and collaborating with business partners from all over the world and sell your services and products to a large number of people from all over the globe.
- E-business gives you a chance to buy and sell online without actually going out and talking to customers and helps to increase your market.
- With help of e-business you can very cost effectively market and promote your services and products. It gives your business the best advantage you could get as marketing and promotion are the most important as well expensive aspects of starting and running any business if you want to make it a success. Whether it advertising on some other site with banners or with help of affiliate marketing, you can effectively promote your business online.
- E-business has also ensured improved and enhances customer service. Using a website you can offer online chat or live talk option to your customers which satisfies them and encourages them to come back again for more. These readily available customer service options enable you to remain connected to them and answer any queries regarding your products or satisfy them before they buy from you. Moreover, e-business enables you to receive payments online which make it all the more good as customers don’t have to leave their homes and come to you.
Cons of E-Business
- The main disadvantage of e-business is the high costs of optimization that is needed to make a website more visible in search engine results to sell more. Due to the rising competition, even an old business will need to spend a lot of money into hiring a company that can optimize its website in order to get more traffic and more customers.
- E-business can run into problem due to one dissatisfied customer. In many instances it happens that one unhappy customer posts a comment on any forum or related platform and it can lead to negative reviews and comments regarding your business that can lead to loss even if it was just once.
- E-business is limited in many instances. While it claims to cater to worldwide customers, yet it is not the case and many of the customers who can view the products or services cannot avail them due to non-availability of delivery service in some area and it restricts your business to only some parts of the world.
It is clear that advantages and pros of e-business outweigh the disadvantages and its cons. Each business has its own set of good and bad points that enable the customers to judge its usability to them and how it can prove to be good for them. E-business on the whole offers great advantages and facilities to businesses as well as customers and ensures great success for those who know how to make it work.