Bringing Traditional Businesses to the Digital Marketplace
Many traditional businesses see no need to enter the digital marketplace. After all, many traditional businesses have had customers for years before the information age, and in some industries, the model for getting business through non-digital means has been the only method. Traditional businesses are, well, traditional. But what happens when their competitors and customer bases make a non-traditional shift to the digital marketplace?
Demand and Traditional Businesses
Demand drives every business. For traditional businesses, that demand is interdependent on multiple industries. A local hardware store, for instance, makes more sales when the real estate market is up. Clothing and other retail shops experience seasonal fluctuations and spikes in demand. But relying on other industries, customers, or the calendar to drive demand means there can be long lulls in business. The digital marketplace allows traditional businesses to create demand to boost sales throughout the year, and achieve a level of independence where they aren’t reliant on external pressures.
Capturing a Larger Audience
Traditional businesses rely on sales from local clients. Depending on the location of the business, tourists can also boost those sales. Digital marketing allows traditional businesses to capture a larger audience by digging into industry trends, national movements, and more. Instead of relying on local clients and local industries, traditional businesses can tap into similar trends and confidence on a national or even global level. If one trend is on the decline or a sales season is drawing to a close, a business can shift its marketing tactics without missing a beat so there are no gaps in revenue.
Looking at the Numbers
Traditional businesses only need to see the numbers from others in the same industry that have made the leap from only brick and mortar to the digital space to get an idea of the potential revenue being left on the table, as well as the cost-effectiveness of digital marketing compared to traditional methods or relying solely on local demand and drivers. Some businesses are apprehensive about embracing digital marketing because they may be unable to fulfill the increased demand, but the best thing about digital marketing is that everything can be scaled to the budgetary and capacity concerns of any traditional business.
To bring your business to the digital platform, or to get a better idea of the growth and revenue digital marketing can bring to your business, contact the experts at Granite Peak Digital Media today.