The internet has completely changed economic thought. And not just in a grand, hyperbolic sense. There is a fundamental shift when a company begins to sell its products online.
A brick and mortar company is bound by the limits of its storage capacity. It can’t sell 500 000 cds because it can’t afford to have 500 000 cds on hand. This is an undeniable fact. But if you move online, you can exploit a limitless amount of inventory. Since buyers expect to wait a day or so for shipping the product, you can store those cds in a cheap warehouse. It can cost money to have a single cd under the bright lights and watchful eyes of a salesman in a store, but mere cents in simple warehouse.
The Long Tail by Chris Anderson goes into depth about what if means for the future of businesses. If you want your business to flourish in the digital age, I’d recommend this book. The general gist is this – as we move forward, the brick and mortar stores simply won’t be able to compete with the online retailers’ endless stock and cheap pricing. Instead of economics based on scarcity, it’s economics based on abundance. Chris goes over what it means from the supply chain end and what it means from the consumer end, but he doesn’t have the chance to cover the impact it has on the marketing.
So what does this change mean for you?
You need to work on marketing your product with more than ads. Ads should always be used in addition to an actual marketing plan. Online sales are generated by the most trusted and most publicized by fans of the product. That’s we why suggest embracing your fans. Try utilizing a message board, a testimonial form for them to fill out, exercise your social media tools and use publicity. Show off the satisfied people who are urging everyone to buy what you are selling. People are passionate about what they spend their money on. Let your fans work for you and give them the tools to help sell your company.
OutRight Communications is a marketing, design and PR firm that can skillfully craft your public image. Our team works together to ensure that your message is delivered to the public, whatever your message may be. We specialize in long term image crafting, publicity, web & graphic design, press releases & media interviews, author services & book publicity, media buys, and creative writing. Get in touch today to solve your media problems!
Showing posts with label Public Image. Show all posts
Showing posts with label Public Image. Show all posts
Friday, June 19, 2009
Tuesday, May 26, 2009
What do you mean growth doesn't last forever?

- Take this time to re-set the foundation of your business. If you overstretched yourself during the boom years, take this time to re-establish yourself around your home base.
- Get market research done to ensure your ads are reaching your target market.
- Re-connect with your best customers; establish a relationship that will help both of you prepare for sustained growth.
- Take this time to make sure your business is running as efficiently as possible.
- Design new ways to distribute, manage, or create your product.
- If the days at work aren't as busy as they used to be, take advantage of the slow times by networking with others in the field, fix bridges you may have burnt in mad attempts to get that order filled during the boom.
- Create and establish a public image that ensures your phone will never stop ringing, boom or bust.
You couldn't do those things doing the boom, but you sure can now. A recession is not the end of the world. It's an opportunity to re-set your business for growth in the years to come.
OutRight Communications is a marketing, design and PR firm that can skillfully craft your public image. Our team works together to ensure that your message is delivered to the public, whatever your message may be. We specialize in long term image crafting, publicity, web & graphic design, press releases & media interviews, author services & book publicity, media buys, and creative writing. Get in touch today to solve your media problems!
Subscribe to:
Posts (Atom)