According to economists, factors of production are Land, Capital, Labour and Entrepreneurship. Land represents all natural resources, such as timber and gold, used in the production of a good.
In the 21st information age, internet technology has become a part of ‘Land’ in factors of production. Businesses are no longer constrained by geographical location but are opened to endless possibilities.
Every business owner therefore, needs to figure out ways to drive business activities with technology.
Service oriented businesses can drive sales exponentially using internet technology.
Get Social Media System On Track. Facebook, instagram, whatsapp broadcast, bulk sms and other social media ads
Get Website and Shopping Cart Setup Customer service/order receiving backend of transactions should be properly setup with an efficient integrated Payment system.
Invest In A Good Delivery System. In order to access market beyond immediate contacts, it is expedient to have an efficient courier service with tracking capability.
Get On eCommerce Platforms
Platforms like Konga, Jumia, Apereonline etc grant business access to a wider market.
5. Create A Promo Sales
Sales, discount vouchers and other promotional schemes may be deployed via social media platforms to boost sales and internet traffic.
Investment should be channelled into setting up an efficient eCommerce and Social Media Engagement Systems just as businesses invest in opening physical shops/outlets.
Remember, your market is beyond your shop…