Are you confident that your business is doing all it can to serve customers over the internet? If not, you need to be looking to improve this area as a matter of urgency as you’re likely to be getting left behind.
The importance of maintaining a good online presence has been highlighted by a new study by MYOB, which noted there is a huge “financial chasm” opening between firms that are comfortable with working online and those that are more cautious.
Websites vital to revenue rise
Surprisingly, considering how central the internet has become to many people’s lives, only 38% of the small and medium-sized enterprises polled by the company stated they had a business website.
This could mean they’re missing out out huge potential revenue gains, as those firms that have a web presence were 60% more likely to have seen an increase in their earnings in the past year than those without.
Cloud a central technology
Embracing cloud-based services was also found to have a big impact. Businesses using cloud computing were 106% more likely to have recorded improved revenues. But despite this, only 16% of SMEs have adopted these tools to help manage their IT operations, despite the clear case for using such solutions.
Many firms missing out
Commenting on the survey results, chief executive of MYOB Tim Reed said it is surprising that so few businesses have turned to basic technologies that could have a huge impact on their bottom line. “The majority are unaware of the value in having even a simple website that contains their contact details,” he said, despite the fact that “many businesses have first-hand experience of the benefits of being found online, being able to attract and retain customers in this way”.
What the research could do is demonstrate to companies that have yet to get on board with the latest technology just how important it is to be on board with the internet. Even if businesses don’t feel confident about what benefits developing a website will provide, it’s now obvious this is an asset even the smallest firms cannot afford to be without.