Business Management

Traditional Business To An Online Business. A Step-By-Step Guide

In the last few decades, technology has become an important part of our everyday lives

In the last few decades, technology has become an important part of our everyday lives. Today, it’s used in all activities in life, such as:

Increasing efficiency of transport through third-party transport booking applications
Increasing socialization using social media platforms
Exchanging ideas and information via the internet

But if it’s seen from a business perspective, the idea is quite similar.

Businesses have also adopted the latest technologies and can reach global audiences as well as local ones. Technology has aided different business processes and has made them more efficient, such as introducing cloud-based inventory management, order and delivery management, etc. This positively impacts the overall business as well.

The Need To Transform From A Traditional Business To An Online One

One of the ways technology has affected business processes is its mode of operation, as businesses are now slowly transitioning from brick and mortar stores to virtual online mediums. The virtual dimension has changed how companies operate. It has also shown how greatly they can enhance their operation.

The benefit of business in an online medium was most prominent during the pandemic as businesses showed more progression through online platforms than those that were not implementing it. Some benefits that online businesses availed are:

They penetrated a larger audience rather than just the local market
Cost reduction as businesses required fewer resources to handle
It improved the efficiency of the business, increasing productivity

How To Transition From A Traditional To Online Business

As of now, you may be considering changing your current traditional business model to an online one. If you are considering it, then let us tell you that it’s not that simple as it requires proper management of workflow and operations to transition smoothly.

You will require a proper plan which details the different steps that your business can implement to start operations virtually, but in that case, we have got you covered.

Here’s a step-by-step guide that can help you formulate your strategy for transforming your traditional business into a virtual one:

1. Inform Your Customer Before Hand

The customers are the lifeblood of any business. The transition could have a massive effect on the quality of service. This can negatively affect customer satisfaction which, in turn, can harm customer retention.

Business transformation shouldn’t be applied without proper customer communication regarding the change. Informing them regarding the operation and change can help retain customers through which businesses can remain sustainable.
Transition doesn’t mean suspending all operations. They should gradually apply the changes until the store effectively works on the web.

As customer retention is significant for any business, retention strategies should be prioritized. It allows you to keep your customers loyal to your business rather than avail services from a competitor.

2. Formation Of An E-Commerce Platform

Secondly, you should consider integrating all of its processes into a virtual platform when moving your B2B or B2C business. In this regard, E-commerce platforms can help. These platforms allow communication with consumers and perform the different business processes online such as payment, order placement, inventory handling, customer communications etc.

E-commerce platforms can vary depending on the complexity of the interface and features they provide. Shopify can be a good choice if you’re going for easy to form and simple interactive interface. Other e-commerce platforms, such as WooCommerce, Big Commerce, etc., can also help build an online platform.

3. Optimize Your Business Processes Through Innovative Solutions

Online businesses offer convenience and maximize the efficiency of all business processes. The business processes depend on the type of business. For instance, a manufacturing business would have a higher focus on inventory management and order and delivery management software.

Technology can further improve the processes., such as cloud-based technology introduced in inventory management can further enhance the supply chain process. Software solutions implementation can help increase the workflow and optimize the different business processes.

4. Set Up Delivery System

Every operating business has to deliver its products or services to its clients. Traditional businesses are physical brick-and-mortar stores, and they can often provide services or products face-to-face. They rarely need to rely on a delivery system as they’re more focused on the local market.

However, it’s quite different when considering an online business. The next step toward an online business is to focus on forming an efficient delivery system that can deliver products or services to the customers. You should focus on the business size and the number of consumers to plan your delivery system. You can also hire third parties to offer delivery services.

5. Marketing Of Newly Transitioned Business.

Now that you have fully transitioned your traditional business to the online medium. The next step involves marketing. Marketing is a significant aspect to attract potential customers to the business. As online businesses are more inclined to reach a wider audience, they should be designed for the same purpose. A few good ways to capture the audience on the web are:

Social media such as Facebook, Instagram, and Twitter can help in connecting with the relevant target audience
Use your existing email list to inform those in contact regarding the business
Use incentives and discount offer to attract customers.

Optimize Your Business Processes With AltheaSuite

Now that you know the basic steps to digitize your business, why not let us handle your business process optimization? AltheaSuite is a one-stop solution, offering its services so you can deal with multiple business processes with greater efficiency.
Our services include optimization of inventory management system, POS, delivery management, CRM for all types of businesses, small or large. Our solutions enable clients in different industries, including furniture, manufacturing, retail, wholesale, and e-commerce. Moreover, our solutions are fully integrated with e-commerce platforms such as Shopify, Woo Commerce which gives you an omnichannel experience. Get in touch with us and get a free trial for our multipurpose solution.