The advancement of technology has brought with it some significant perks, such as the ability to work from your home or run a business without having a physical office location. With so much of business transactions and interactions being done digitally, many business owners have decided that there is no need to have a physical office. One of the benefits of not having an office would be the reduction of your company overhead do the cost of running and staffing an office.
Not having a physical office location also comes with a significant downside. Having a physical office where you can entertain and engage clients is extremely important for growth and credibility for a number of professional businesses across multitudinous verticals – such as legal firms, accounting firms, real estate brokerage firms and more. The good news is that the same technological advancements that has made it possible to work without leasing full time office space has also created the virtual office industry. Working with a virtual office provider allows you to take advantage of the numerous benefits of having an office, without assuming the total costs and risks.
1. Face To Face Customer Engagement
One of the primary elements of business growth and developing customer loyalty is customer engagement. Although the advancement of technology and the emergence of social media has created a vast variety of customer engagement strategies that are highly web-based, there is still no substitution for direct engagement.
Having an office that a customer to can call for information or to state a concern is huge. Virtual offices provide answering services that will answer your calls professionally, while providing that immediate contact that is necessary to build trust between your company and your client.
You can also have direct engagement by having the customer come in and meet with you face to face in a virtual office – either in an office environment or in a conference room.
2. Redirected Budget Revenue
Using a virtual office will allow you to redirect the money that you will save from using virtual services instead of owning or renting your own office toward marketing and branding your business. Again, business growth is about customer engagement – gaining insight spending trends, specific needs and desires, as well as expectations are an extremely valuable aspect of growth and development. Outside of its direct impact, having a virtual office will allow you to increase your marketing budget, while maintaining a physical presence.
3. Credibility is Crucial
One thing that the virtual world of technology and the internet has done is create more skepticism among consumers. In a world where transactions take place without face to face encounters, it can be difficult to gain the confidence of your target audience, especially if you have not established your brand across the market base. Having a virtual office, allows you to create an environment that produces credibility. Having a physical address that people can send traditional mail to matters. Even if your customers are out of state, that physical location expresses stability. Your customers want to know that they can depend on you being there. Nothing says fly-by-night like not having a physical address. Something as simple as having a phone and fax can create the credibility to you need to increase your client base.
4. Increased Productivity
There are studies that reveal that business that are using virtual offices have increased their productivity. Most virtual office providers offer phone answering services as well as other administrative services. This means that some of the basic office functions can be turned over to this service, while you and your staff focus on the more central matters. When you are able to increase your productivity it shows in the finished product, whether that is a service or an actual product. Quality is always a major factor in sustaining company growth and development.
Because of the built in infrastructure of virtual offices, you have an immediate environment that will facilitate the diversification of your services. This means that you can expand the scope of your business without having to take on the cost of expansion. If you are an attorney that decides that you want to hire an accountant and operate a tax advisory firm, you can do so with little to no overhead, using the same virtual office.
No matter how you look at it, having a physical office space provides the vital elements of functionality and credibility, and with the presence of virtual offices, you can have all of the benefits of owning or leasing your own office space at a fraction of the cost. If you are a business owner that wants to enjoy the flexibility of not having the full time responsibility of running an office, yet you wish to have the benefits of having office space when you need it, using a virtual office may very-well be the best option for you.