Location, Location, Location!

The Web has long been heralded as the Golden Grail to retailers - the world at your door, if it may. Many have launched, gone broke on Adwords and ridden off into the Internet sunset. What can we learn from our brick and mortar counterparts?

Any savvy retailer knows the age old mantra “location, location, location.” A quality location enhances visibility, benefits from foot traffic and leverages anchor tenants. The three principles of real estate success also apply to your home on the Web.

When you initially launch your store on the web, it’s like opening a retail outlet in the middle of nowhere. No foot traffic, no visibility and sadly no sales. You can spend a boat load of money trying to advertise your new location or you can can consider a tried and true alternative.

Many successful retailers locate their start ups in malls. Why? Because they know the strength of anchor tenants will drive foot traffic past their door. Therefore, the online business must find the Internet equivalent of an anchor tenant. You must get a prominent relevant site to link to your site.

“But why would anyone link to me, I am new?” That depends on your site. Does it add value to your target?

• Do you provide interesting articles and helpful tips that might be of interest to the target’s clientele?
• Do you offer a complimentary service to their product mix?
• Do you post helpful links and advice that might be beneficial to their customers?

If you position yourself as a valuable resource to an industry leader in your field, well you’ve just scored the little store next to Starbucks. And who wouldn’t want that foot traffic?