Building a Better Brick-and-Mortar with the Billion-Dollar Web
More than $117 billion passed hands from Internet shoppers to Internet vendors in 2004, according to the statistical research firm comScore. That's billion, with a B. Compared to the year before, the figure represents a whopping 24 percent increase in sales. Compared to the early 1990s, when the Web was a questionable commercial venture, today's $117 billion is proof-positive that the Web is the full-fledged money-making machine. It seems to be a big enough pie that any merchant with a Web site can cut out his heaping slice.
Not so fast. As any merchant who's tried to take a bite out of the Internet will tell you, turning a profit online is not as simple as throwing a few pages together. Professional Web sites cost big bucks for design, consultation, and upkeep. Either you have to hire a full-time editor or technician to manage your Web store, or you need to pay three-digit hourly rates to contract Web professionals. Then you have to face fees for Web hosting, broadband access, and IT maintenance.
Even after you expend all of this capital and launch your Web site, you're still not guaranteed anything. Your site will only be one among millions, if not billions. Yes, that's billions with a B again. The Internet, after all, is like a clear sky on a dark night. How can you expect a customer to pick your star out from among all of the others that shimmer for their attention?
On the Web you'll quickly learn that attracting your clientele-and building your Internet-based business-is just as tough as it was when you first started your brick-and-mortar shop. It takes smart investing, creative marketing, a little luck, and a lot more know-how.
What's great about the business side of the Web, however, is that your old-fashioned know-how translates quite well on the Web. A great example is the timeless merchant adage: "Location, location, location." This saying holds true on the Web, too. You can place your store's site in a spot on the Web where no one will discover you, or you could position it on a "busy corner" on the Internet.
One such spot are online classified sites. These sites provide similar services as you would get from a newspaper classified. Sellers can place ads online that describe a particular product for sale. Buyers browse these ads and contact sellers when they're interested. Online classifieds, though, are far more dynamic. They allow a merchant to display dozens, if not hundreds, of their goods with pictures and descriptions. And believe it or not, some online classified sites allow you to do this for free. Yes, that's free with an F.
The benefits don't stop there. As a merchant on a classified site, you can enjoy:
? A store that never closes. Your goods are for sale 24 hours a day, 7 days a week, 365 days a year. The Internet never turns off.
? A mall of online shoppers. Think of a classified site as a virtual shopping mall, with your grouping of ads under your own virtual storefront. By having a storefront, this allows you to have your own web page and listings, under the umbrella of the classified site.
? A chain reaction of shopping. "Real" shoppers go to a mall to visit one store, but often they end up browsing through all of the stores in the mall. The same is true of virtual shoppers. Even when they visit a classified site looking for one particular thing, they're likely to "spill over" to your storefront out of curiosity. At the very least, it leads to advertising for your store; at best, business.
? An advantage over pure Web merchants. Your classified site will pit you against wily online vendors who only sell their wares on the Web. This is where your brick-and-mortar business comes in handy. It's proven that shoppers seem to trust online merchants that have a real address and a real store somewhere.
? A solution to the intricacies of the Internet. Many classified sites can help with setting up your ads and with designing your storefront, providing you with instant IT IQ. For your buyers, the sites offer the security that Web shoppers demand to protect them from identify theft and fraud.
As mentioned before, many classified sites charge absolutely nothing for all of these benefits. The listings, the shopping traffic, the sense of business community, the advertising-you receive all of these perks for free. Oh, and don't forget your piece of the $117 billion dollar pie.
Donald Lee is the public relationship manager for Buysellcommunity.com. Buysellcommunity provides free classified listing services for individuals and businesses to market their products and services online. For global and localized classifieds, please visit http://www.buysellcommunity.com - Free Buy & Sell Classifieds
More Resources
Unable to open RSS Feed $XMLfilename with error HTTP ERROR: 404, exitingMore Strategic Planning Information:
Related Articles
Consolidation in the Software Industry is Hardly New: Obsess About It or Risk Losing it All
Some analysts credit [Larry] Ellison with anticipating the consolidation in the enterprise software industry and leading the charge. Ellison 'called a major shift in an entire market, which was impressive.
Why Six Sigma Will Work in Healthcare
If ever there were an industry where we want zero defects, it's healthcare. Patients, medical professionals, and healthcare administrators all want mistakes eliminated and quality and efficiency improved.
What Every Service Provider Ought To Know About Writing A Business Plan
It's easy to lose sight of what needs to be communicated to prospective investors when writing the various sections of a business plan. Successful business owners/entrepreneurs use each section of their business plan to work up interest, to present arguments and, most important, to build trust and confidence.
I Always Play by the Rules and It Stinks!
This week I coached a wonderfully lovely woman I'll call Jill. She's a bright woman, very compassionate and sweet.
3 Undercover Ways to Make Big Profits from Your Competition
You have heard that there is extra money on the table
marketing products related to yours. You have also heard
that your direct competitors product is off the table.
Why Do a Business Plan?
To Grow (Catapult) Your Business That's Why.When it's in your head it's not as likely to happen--too much missed.
Business Process Methodologies
I've either been involved with or held a process-related role since 1994. It started in the government with TQM (Total Quality Management).
Innovate Today for Great Leaps Forward Tomorrow
How often does your company make a quantum leap forward? My guess is that, on a scale from "frequently (10) - to - never (1)" the answer is much closer to "never" because few companies have a process to innovate or think creatively. Very few attempt to formally think through their business model, their relationships with staff, clients, and vendors, and their product / service offerings.
Attributes of Companies You Dont Want to Buy!
There are no "rules of thumb" in the pursuit of companies to
buy. Each purchase opportunity has to stand on its own merits.
Corporate Venturing For Emerging Growth Companies
The boom of the dot-com era in 1999 brought the emergence of
corporate venture capital as a major source of funding to the
private equity markets. Corporate venture investments peaked
in the third quarter of 2000 with 608 deals totaling a combined
$4.
Going Self-Employed - A Few Handy Hints
The day you decide to take the plunge and work for yourself will be one of the most life-changing choices you ever make, whether starting a company large or small or as a freelance; from the very first moment of being self-employed, you and you alone will stand or fall by your decisions and actions. You will be responsible for steering your business through all its ups and downs, good times and bad times with no guarantee that everything will turn out right in the end.
Mastermind Your Way to Success
What do Mark Victor Hansen, Robert Allen, Anthony Robbins, Andrew Carnegie, Henry Ford, Thomas Edison and Ben Franklin have in common?They all leverage the power of the mastermind team.The mastermind works on the concept that two (or more) heads are better than one.
Offense: Beat the Odds
When in doubt, cut that out! Yeah, yea, doubting Thomas may have had a point in his day, and life may not be what you want it to be, but if you constantly doubt yourself, how can you accomplish anything?Where is your confidence? What possible good can come from taking the negative aspect of any situation and growing it into acceptance?Purpose of achievement is to attain a goal. So, if you set your goals and strive to get there, it should be assumed that you are moving toward your goal (at least so far as intent) no matter what you are doing, right?I vaguely remember an instructor from college saying once, "If there are two ways to take something, always input the benefit of doubt and assume the better more optimistic choice is the right way to take it.
The Chasm of Change---- Restructuring ----- The Goliath
Richard L. Daft one of the country's recognized academic leadership experts raises the question, "What kind of people can lead an organization through major change?" A Turn-A-Round restructuring qualifies as major change and requires transformational leadership.
Writing a Business Plan for Success in Business and for Funding
Writing a business plan to help you direct and manage your company is a key part of starting you new company that will help lead you and your company to success. Creating a "living and breathing" business plan makes that success even easier to reach.