Key Ways That Companies Have Managed to Develop Their Business Online

11th February 2022

The way that we’ve moved more of our lives online in recent times has helped to make many things easier. Yet, it’s easy to overlook the ways that companies have had to develop their businesses online to meet this demand. What are the key changes that they’ve made to adapt to this modern way of satisfying their clients?

The Introduction of Safe Online Payments

One of the key developments in the e-commerce industry was the introduction of safe and easily accessible ways of paying online. The first companies to sell products or services online had to wait for cheques to arrive, but this changed in 1998 when PayPal arrived on the scene.

Since then, a large variety of electronic wallets and payment cards have helped to increase our options for paying easily and securely online. Cryptocurrencies like Bitcoin and Ethereum have added more ways of moving money around the world, and this trend shows no sign of slowing down.

Some payment methods are particularly widely-accepted in a certain industry. For example, with Boku you pay by mobile casino in a few simple steps, with the amount of the deposit added or taken off your phone bill, which is safer than entering your sensitive banking information online. Other methods that are commonly used in the online casino industry include Neteller, Skrill and ecoPayz.

Virtual Product Presentation

A key aspect of online retail is how the products are presented to potential purchasers. In the early days, this simply meant showing a photo of each product. This was expanded to interactive product galleries and videos.

Recent technology advances such as virtual reality (VR) and augmented reality (AR) allow e-commerce sites to present the items they sell in more attractive ways now. A good example is with the Place App by Ikea that uses AR so that you can place their furniture in your home and see how it looks before you buy. The app automatically scales products to the dimensions of the room with a 98% accuracy level.

Another example comes from BMW, who use both VR and AR to let people experience their vehicles without leaving home. The car manufacturer gives users the chance to put on VR goggles and give the vehicle of their choice a virtual spin. Meanwhile, the AR aspect allows users to customize vehicles in the showroom.

A New Type of Marketing Is Needed

There are believed to be more than 1.7 billion active websites across the planet, meaning that even household names run the risk of having sites that go virtually unnoticed. To counter this, brands have had to create online marketing strategies to give their sites the chance of succeeding.

This include the likes of search engine optimisation and pay per click advertising. A smart use of social networks like Facebook and Instagram can also help them to reach a wider audience. This look at the best use of social media by brands includes the likes of Slack, Nike and Starbucks, who all use images, slogans and campaigns to get their message across to millions.

These are a few of the most important areas that companies have addressed to be able to compete online while delivering a strong service. As technology continues to improve, we’re sure to see more new approaches that make it even easier to carry out business online.