Local businesses are the backbone of the economy. But due to the growth of eCommerce businesses local businesses, stores, shopkeepers are facing challenges to survive and grow.
Many are closed and running in loss due to the covid-19 pandemic. There are already many problems that local businesses are facing such as selling on credit or not able to maintain the cash flow.
Each business owner thinks and manages their business differently. Many of them take the business decision based on growth opportunities and many take it due to fear.
Internet, eCommerce created the fear of failure and challenging the local business. But along with that fear and challenge, there are also opportunities for growth and profitability.
Those running the local business with a big vision and have a growth mindset are trying to understand the importance of the internet in business.
Internet is for everyone and equal. If you have the ability and knowledge you can take the advantage of it. There are various advantages of the internet for business.
And one of the biggest advantages of the internet is online marketing.
But does it matter for local businesses? What is the importance of internet marketing or online marketing for local businesses?
Let’s understand:
Top facts that you also have analyzed on your own:
People these days search for goods and services on the web before visiting the local market.
For example, if someone needs a computer mouse, he/she will search that on Google. Even just to see the price. Similarly, if someone needs concrete for a home, he/she will search that for the option on google.
What are the advantages of that for customers?
- Customers find out the buying options and prices. It’s because these days’ time and money are most important. People are interested to save as much as possible.
- The 2nd thing, if they know the pricing details of goods and services that they have to buy, then they can negotiate better with local sellers.
- Obviously, the goods and services are delivered to home.
- The 4th benefit is that they can contact, buy and order the item from anywhere and anytime.
Learn more: Top 10 Benefits of online marketing to customers
It can be food, electronics, clothes or anything. Almost all local business models or ideas are transforming into mobile apps, websites, and eCommerce businesses.
But if local businesses market their business, goods, and services online what will happen or what will change?
- When local business promotes their products and services online, then they will make local as well as national, and international customers aware and informed as well. If someone needs their products and services, then they will be contacted. They can receive the payment from customers online or directly into a bank account and after that local customers will deliver that product through courier.
- The prices of the products and services are the biggest factor online and locally. The cost of the product for local business outside the main city will be higher. The seller in the main city sells on less price, but outside the city, local businesses have to sell at a higher price. And in this case, most of the local businesses don’t promote or sell products online. It’s also because not all are able to afford to buy more stock at less price.
So, online marketing is more beneficial for local manufacturers and service providers than shopkeepers.
- While there are already competition and pricing problems. Still, local businesses can jump into online marketing, and with the unique strategy, they can create competition for eCommerce companies.
- When local businesses start promoting the products online then they will learn new business techniques. Because they are already in business, still they can take the advantage of online marketing better than those who are just starting now.
- Online marketing is the way to run and promote a business. The buying experience that a local seller or store provide will not be get online. So, the local businesses can run online marketing campaigns in the favour of local shopping. They can promote the campaign against online shopping frauds. They can run a campaign against duplicate products and sellers.
I still believe that if someone puts the mind to it, they can easily compete with eCommerce companies.
If we leave the online selling strategy for local businesses still online marketing is important.
Any local business can run a campaign to get the attention of local customers. If they do online marketing, they can retain local customers. They can divert the people from online buying to local buying.
Following are the posts with online marketing strategies:
Ways to let more people know about your local business online
Facebook Post Ideas for your business
Importance of having a website for small business
Might be online selling is not important for every local business. But why sell, when people can visit your store.
Yes, It’s an investment of time, effort, and money. But it’s not impossible to grow the business and increase customers.
There are various online marketing tools and education platforms. These days, it’s easy to find and build an online marketing team. People experts in online marketing have lots of ideas. It’s a risk to invest money, but investment in growth and innovation is important for the business’s success. No matter it’s local or international business.
But whatever, investment in online marketing without a strategy and good team or skill is not the best method to use online marketing.
You have to experiments with ideas and strategy and have to commit to getting successful in this. You might get failure at the start, but with the time and new knowledge, you will definitely able to take the advantage of online marketing for your local business.