Going Digital is the need of the present time, and Canadian SME firms that are facing limited demand for their goods and services from the domicile customers, are now using the digital platform to source demand from overseas countries.
Competitive context of Digital Markets
A digital market is defined as a setting that enables buyers and sellers to exchange information, conduct transactions or perform other sales-related activities online, via the Internet or wireless technologies. With the internet and technology turning omnipresent, business houses are looking to gate-crush the digital market as it provides direct access to international customers amid increased speed and cost-effectiveness of communication and transaction. However, as lucrative it may sound, but the ground level reality is
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At present, not only the Canadian firms, but business houses around the world have their online presence fighting to gain a market share. Thus, for any new firm that plans to go digital, the core objective will be to garner an online reputation by focusing on the following elements:
i) Visibility: In order to be successful in the digital arena, firms should ensure that consumers are aware of the firm’s online presence. While there are many methods to enhance the online visibility of the firm, appointing a professional Search-Engine Optimization (SEO) consultation company which have specialized SEO skills, and by developing in-house web analytical tools. ii) Trustworthiness: Firms doing business in digital world or the one who are willing to, should understand that building trust amongst the consumers is most essential. For this purpose, firm should declare their physical locations, information about managers, adopt well-known payment gateways and provide warranty cards to affirm quality signals of the product they are