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How Has the Internet Technology Changed Business Models
It is impossible to imagine a business operating without the use of the Internet. The
advent of the Internet technology has changed the functionality of businesses completely. Before
the use of the Internet technology, businesses had limited options mainly in communication,
marketing, advertising and research. Also the Internet technology has made it easier to start up a
business easier than before. Today, businesses can operate beyond these limits and function in a
global level by embracing the use of the Internet.
E-mail is one of the tools of the Internet technology which has changed the way business’
owners and employees communicate with each other and their customers. Employees and
business owners can stay connected and share information via e-mail. For example before the
advent of the internet a business owner needed to call each employee to inform about a change
on a project, which would take so much time and effort, whereas now any information can be
sent to as many as people required via e-mail faster than before. Many companies also use email
as a means in their marketing strategy by distributing information to their potential customers,
vendors or partners, which does not cost anything extra to business owners other than the
Internet service.
Videoconference is another important and widely used tool of communication in
businesses, which became possible with the Internet technology. Business owners and employees
working at different cities attend to meetings by just being online instead of driving or taking a
flight to different cities, which in turn also contribute to their budget positively. In addition to
that, as a choice, some companies also offer employees to work from home by utilizing the tools
of the Internet technology, which did not exist as an option before the Internet technology.
In addition to these tools, social media websites such as the social networking Facebook
and Twitter are also a new way of communication and marketing for businesses. For instance,
businesses can access data for marketing purposes via Facebook before launching a new product
to understand the current trends and their target customers’ behaviors and transactions to
decrease the possibility of a financial failure. Moreover, companies utilize Facebook pages to
stay connected with their existing and prospective customers, which help to develop trust with
their customers. In contrast to this current continuing customer-company relationship
implementation, businesses focused to hit their target customers for only one-time before the
Internet technology.
Advertising, the other important aspect of a business has changed dramatically with the
Internet technology. With the growth of Internet services, companies no longer needed to be
limited with advertising spaces, radio and TV ads to promote their products or services to their
prospective customers. Businesses are forced to implement more sophisticated advertising
strategies than before now. Among many of them, cookies is used by many advertisers which
helps companies to present relevant information and ads to their targeted audience. Another
mostly used way to utilize the Internet by businesses to promote their products is the search
engine optimization.
Today every business can access to stored data about their target customers’ interaction,
behavior and transaction of their future or ongoing product to improve their companies
accordingly. Although starting up a company is easier than before with the advent of the Internet
technology, it is harder to survive in the market since the competition is much more than what it
is before.