In 2006 the Internet was second only to television in capturing adult media attention. By late 2008 almost one-third of all Internet users were age 55 and up. These changes, from a younger persons media to a more accepted mainstream media for everyone, means more purchasing power is available to the internet retailer. With the growth in the numbers of older adults using Internet services, escalating gas prices and a more firm movement towards Green, on-line shopping and the many Shopping Carts available to buyers today will only fuel its popularity and use. Although demographic research suggests that the higher the family income, the more likely they are to use on-line shopping, the above trends will no doubt start to affect that as well.
Statistics recently available through eMarketer suggest a 65% growth in US shopping over the internet between 2008 and 2013. In raw numbers this means a jump in US dollars from $133 B to $203 B. In Canada the growth from 2007 to 2012 is expected to equal these percentages with the Canadian dollar value rising from $13.8 B to $22.8 B. From a strategic perspective any company not doing business over the internet today is disadvantaged. However, the growth forecasts also mean that if your not in the game today by no means are you too late either.
With all of the unpleasant economic news recently its difficult to not be adversely affected. Rather than fall victim to the negativity the various news media seem to prey on consider the possibilities that are presented to all of us through the internet. How many of us today would like to derive another income, a secondary one that allows us to provide a few extras for our family or for ourselves? The truth is there are always options for those who know where to look. Multiple income streams are a strategy that can help safeguard us while this downturn sorts itself out. Two things make it easy for anyone with a product or an idea to attract and sell to prospects. The internet’s global reach and the ability to perform e-commerce transactions with shopping cart solutions means you have a global audience for your product or service. Depending on your creativity these technologies make a second or even third income stream possible with minimal overhead. And don’t forget about the advantages of working from home. Even for those who don’t have a product or service ready to sell right now there are a number of Affiliate Programs available where all the work has been done for you. All the individual need do is source one or two that may align themselves with their pending product or service and start sooner than later. This method allows the newcomer to understand how on-line shopping and its associated marketing strategies all link together.
The internet has spawned a number of other social advertising formats such as Face Book, U-Tube, Twitter and more. This has caused a shift away from traditional and more expensive advertising media such as papers and yellow books. So, in addition to their reach advantages these new social media are providing cost containment for today’s financially stretched businesses. And this is accelerating the migration away from paper based solutions. Their reach is also a plus. Although everyone agrees that the economy is more challenging it is not bad everywhere. As in any down market there are always people and places that continue to thrive. The internet’s reach means that you have access to these markets and all the emerging and improving markets as conditions change and previously depressed areas being their economic recovery. Your presence on the internet combined with your shopping cart solution means that you are they when they are ready.
Just being on the internet ready with an e-commerce solution does not guarantee your success. If your shopping cart has auto-responder capabilities or the ability to automatically send out e-mails thanking your customers for buying and helping them get started, that’s a big plus. But today’s competitive reality means you need more. Everyone is eyeing the internet as a potential safety net but as in any business the individuals working the smartest will be the ones that are most successful. First of all we have to acknowledge that there are two types of buyers. The people ready right now and the people looking to gather information for a future decision. Your success in the now market will be a function of your website, e-commerce solution and marketing strategy when they arrive at the site. Your future shoppers are more of a challenge. They are surfing to gather as much information as they can on their particular area of interest. Once they’ve visited your site you need to begin a multi-media approach of educating and training them on your product or service and provide them the validation they need to accept the fact that your solution is the best and you are recognized as an expert in your area. In this case you need to engage the services of a different expert in marketing. For an example of a company with these credentials check out www.AutomatedMarketingSolutions.com. The social networks such as Face Book, U-tube, Twitter and others are excellent for staying in touch with your prospective market when you want to see how your product or service is being received, for testing ideas and to keep up to date with any negative service issues as they arise. The most important thing to remember is to not limit yourself in how you reach out to your prospects and do not limit the ways they can stay in touch with you.
If there is anything we can learn from the large organizations around us today it could be this. More and more they are recognizing the need to develop marketing programs that integrate both the internet and their traditional media. A report released in Feb. 2009 of CMO priorities for 2009 indicated that this ranked 2nd on their list of top 10. They are doing it to cut overhead and traditional advertising costs and to capitalize on its popularity. For the small to medium business or work from home entrepreneur, the same benefits hold true. The ease of set up, the ability to get to market with a product or idea and the shopping cart capabilities levels the playing ground for all of us. The thing that sets us apart will be the effectiveness with which any individual or company uses these tools to attract and convert.
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