How Has the Internet Helped Businesses and Companies Make More Money?

How Has the Internet Helped Businesses and Companies Made More Money?

The Internet is a technology that has important effects on the operations of businesses and companies. The size of the enterprise does not matter, the internet has both intangible and tangible advantages that help businesses and companies make money and produce the customers demanded results. Use of internet in companies affects the relationships of a business as well as culture, and efficiency. It affects the confidential information’s security and trade advantages as well. First and foremost, the internet affects the ability of businesses and companies to communicate with customers. In the busy business environment of the current world, it is very important for employees of a company to interact with clients clearly and quickly. The Internet allows customers to get answers to their queries within a few hours. E-commerce options through internet allow businesses to sell their products and services over a large geographic area. When customers use the internet to interact with a company, the company benefits as better and fast communication establishes a stronger public image of that company (Oklahoma SBDC, 2015).

The customers of almost all businesses and companies are on social media. The competitors of the companies are also on social media. So it would be crazy for the companies not to use the internet and show their existence on social media to make more money. 9 out of 10 companies in the U.S., in fact, are already on social media, and seeing concrete results: 90 per cent of businesses and companies observe increased exposure and more than half of those businesses report improved sales and profitability from social media. However, it is also a reality that there are still many businesses that are not using social media and those that have been often failing to tap the full potential of social media. It was concluded by 2012 McKinsey Global Institute Report that social technologies through internet stand to unlock 1.3 trillion dollars in business value; this is such as huge amount. And only 3 per cent, yet, of companies are maximizing this opportunity to increase their profitability. Marketing is just a tip of the internet and social media iceberg. Internet tools are being used to streamline the service for the customer, for product development, for shopping and commerce, sales, HR, and ultimately company profitability. Social applications like Twitter and Facebook at Slack and Work, meanwhile have changed collaboration inside businesses, boosting productivity and breaking down silos. In the same way that a web transformed almost all business parts itself, so too is social media through internet changing, not one thing but everything (Holmes, 2015).

The Internet itself is becoming a platform for business; there are various companies making money on the internet by selling ads or communications services. A recent survey completed by in Chicago by a company confirmed the connection between the small use of the internet by businesses and building loyalty among their followers’ community: it was stated by 60 per cent of respondents that they regularly follow the businesses to buy services from on Facebook. Furthermore, 54 per cent of respondents said that they trust companies that engaged with followers and clients on the internet; customer loyalty ultimately helps businesses make more money (Shaw, 2018).