Use the Internet to grow your local business...
Cape Cod has always been known for its thriving local business community. Not only is this region extremely popular with tourists, but its iconic nature has enabled numerous retailers to capitalise upon such a well-known status. This is one of the many reasons why clothing retailers have enjoyed a great deal of success in recent times. Still, what if you are looking to expand your operations well beyond traditional geographic and demographic borders? This is when the power and scope of the Internet will come into play. The main issue does not involve the validity of such a strategy, but rather how you can take the first steps towards developing what could very well turn out to be a profitable online business. Let us therefore examine some basic guidelines in order to do away with any potential confusion.
Online Business Strategy 101: Know Your Audience
We will forego with the more technical aspects of creating a website (such as registering a domain name and creating individual pages) in favour of instead knowing why it is important to appreciate your target audience. One of the most pervasive myths throughout the online community is the belief that more is better in regards to marketing. The main issue here is that such a strategy will often lack the focus needed to engage with the average consumer.
In other words, you will need to identify what type of buyer you are hoping to connect with. What is their location and age? How much money are they willing to spend and what types of products will resonate the most with their interests? Although these questions seem rather broad, researching the associated answers will provide you with the ability to develop a much more effective marketing strategy.
Balancing Overhead with Profit Margins
Let's imagine that you are dealing with a limited budget. This is normally the case for those who are taking the leap into the digital community. In terms of clothing, it might be better to market low-cost products to your audience before graduating to more high-end items. Let's look at how to start a tshirt business as an example in order to highlight some of the main takeaway points that you need to remember.
Here are some metrics which should be analysed so that you can obtain the highest return on investment (ROI) for your efforts:
- How much the shirts will cost to obtain.
- If they can be purchased in bulk from a wholesaler.
- The fees associated with printing or silk screening.
- Programs to create interactive mock-ups for website visitors.
- The types of materials used (such as cotton or a synthetic blend).
Of course, you should also take into account the most appealing designs as well as which ones resonate the most with your audience. Although the steps mentioned above may sometimes be based off of trial end error, they are crucial if you hope to hone your efforts and to connect with the average consumer.