Brick & Mortar Versus The Internet

You have already spent thousands of dollars on rent

, interiors, marketing, staffing, inventory and other utilities and are now feeling the pinch of all the outgoings. Most new brick and mortar businesses tend to get trapped into a catch 22 where they believe that cutting costs at this stage may impact their business and on the other hand, sustainability becomes an issue.

New businesses especially, need to consider all possible capital saving business models to sustain in the marketplace for a longer period of time. It is a general belief that every new business takes approximately 3 years to make its mark in the industry and once they cross the gestational period, the sailing becomes much smoother.

Leveraging the Internet:

Having said that, the internet can open up a range of different opportunities for your new business where you can make use of internet marketing strategies to disseminate information and even conduct business online without the pressure of making this months rent on your shop.

As a business owner, there is tremendous scope for you to optimize the internet to create an online community that is parallel to your product or service. This is how you can capitalize the internet and avoid investing in a physical store for maximum profitability

1. We are already concluded that the internet offers ample opportunities for business owners to create virtual stores which are much more cost effective and not at all capital intensive. If you are able to build interesting content, drive internet users to your portal and build credibility on the internet, you will be able to cater to a larger audience without the pressure of rent, salaries of front office staff and other overheads.

2. The World Wide Web offers more opportunities for you to gather marketing data and execute targeted marketing campaigns that are relatively more cost-effective and successful. Your Google Ads and Social Media Marketing initiatives can easily replace your spends in print and outdoor advertising to deliver far more successful results which can also be easily quantified.

3. Modern technology facilitates easy tracking of every customer which acts upon your internet based promotional campaigns. Through printable coupons, pay per click advertisement, and the effective use of QR codes, you can encourage your audience to make a call to a particular action for the sake of making a sale or simply sharing relevant information.

4. In a brick and mortar store, it is difficult for a business to gauge the receptiveness of your audience towards your pricing. Conversely, on the internet, you can easily track user behavior with respect to interest versus conversion, thus allowing you to make well informed pricing and strategy decisions for your offerings.

5. Instead of paying thousands of dollars every year on front office sales people, cashiers and other staff; your e-commerce website will allow you to get rid of all the erratic employees, conflicts and an ever increasing payroll meter by automating your sales and billing systems through online buying portals.

In addition to this, there are a number of other benefits that online marketing offer over investing in a brick and mortar shop in terms of design maintenance, brand management , cost and most importantly efficiency in product delivery.

by: Stella Richard

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