Physical storefronts are responsible for hundreds of millions of dollars in revenue each year. Though Internet businesses are quickly adding to that pool of money, there is something tried and true about bricks and mortar marketing. The sad reality is that many new, young, and excited Internet marketers turn to SEO and SEM gurus for answers to web advertising questions, when the real answers are right in front of them every time they shop.
Marketing With Merchandising
Merchandising is used in bricks and mortar business to lure in passing customers and increase sales. Web advertisers can learn a thing or two from major corporations in terms of effective advertising techniques, if they only open their eyes. Take the 4th of July into consideration. Physical businesses will lower prices on hot dog rolls to below cost and build a huge display of rolls to catch the eye of passing consumers. The rolls are just the bait, however. The real money is in the cross-merchandising. On the same display will be items commonly used with hot dog rolls such as ketchup, relish, and mustard. Each of these items could provide a 50% sales margin, which means more money in the businesses pocket from sheer volume sales. How can web advertising use the power of cross-merchandising to increase sales?
Cross-merchandising on the web is a simple way to increase profits. Instead of a website being viewed as an entire store, it should be viewed as one display. The main product is the rolls and the complimentary products are the ketchup, relish, and mustard. Take freelance writing, for instance, a writer can lure in customers with a 50% coupon on 400 word articles. Once on the website, article submission, eBooks, and autoresponders are there to compliment the 400 word article. While some visitors will only choose the product that is on sale, others will see something else they want and that is where the real profits lay.
What Does This Mean for Web Advertisers?
There is more than one way to market and website. Some of the most effective advertising campaigns are already planned out by multi-million dollar companies with huge advertising budgets. The next time you head to a bricks and mortar business, take some time to look around at how they advertise and marketing products. Write down common choices and take the time to think our a web advertising strategy that mirrors those choices. Mixing up Internet marketing tactics, with proven bricks and mortar advertising may the the secret to running a successful, profitable web business.