Yes! Is the short answer.
Several studies and statistics by the likes of Deloitte, The Economist and PwC, including others, have shown that businesses that opt to not have a presence online in the form of a website are far more likely to fail and face bankruptcy.
The reality of running a business in the 21st century when the world is powered by digital technologies is that you need to prioritize being online and do a good job of it. There’s a reason why large companies now have teams dedicated to managing their online presence. From web development teams to individual employees tasked with piloting Twitter pages, it’s all done for a reason.
Not convinced? Here are 5 reasons you need a website.
1. Consumers Won’t Consider a Business Without a Website
Studies have indicated that as many as 30% or more consumers won’t even consider transacting with a business that doesn’t have a website. Your website is your primary marketing asset in the digital age and regular people now spend hours each day online.
At this stage, consumers expect companies to have a website and not having one is a sign that you’re not serious, professional, and could be a scam.
2. Consumers WILL Look for You Online
And these people are potential customers. Your business should always be in a place where your target market is, and your target market is online. Most online experiences begin with Google and other search engines and this is where potential customers will find you. There’s a reason why most companies go to great strides to have a modern website that is fully optimised for search engines.
With billions of Google searches performed per day, there’s somebody searching Google right this moment looking for a product or service you offer. If you don’t have a website, your competitor is going to steal your business!
3. People Want to Engage with Businesses Online
Consumers actively search out businesses online to engage with them. I’m not going to go into the psychology behind this here, but over 60% of consumers have been found to look for a company’s website with the sole purpose of engaging with them.
That’s a huge chunk of your target market you’re missing out on engaging with when you don’t have a website.
4. Your Website Shows Consumers Who You Are
In a world where consumers are more switched on to cybersecurity and privacy risks, people often look for a company’s website to learn whether a company is legitimate or not. In addition to this, they also want to know who you are, what you offer, and how you can be contacted.
Consumers that are unable to verify a company as legitimate and offering what they need by searching for them online are unlikely to go any further.
5. Your Website Helps You Stay Competitive
Unless your product or service is incredibly unique and niche, you will have competitors operating in your industry. One way to beat them and stay ahead is by having a modern and responsive website that is fully optimised for search engines.
If you can rank higher than your competitors in search engine results, you are far more likely to beat them in the digital space.