The cliched saying in real estate is “location, location, location.” That could be true or not, depending upon the location! Donald Trump is putting up a new building in Waikiki and it is revitalizing an area that had declined…so in this case, location is everything.
Another location worthy of discussion is the World Wide Web, better known as the Internet. There is a new cool search engine that just started call Cuil [pronounced cool]. I put the www. into my browser and there it is, a shiny, new site window. Then I search for Trump Plaza, and yep, this is a new search engine. Its location? The Internet. Location is everything in cyberspace.
What if you are a business on Main Street, in Tourist Town and you sell candle-making supplies. Let’s suppose your town is a tourist destination, so besides candle-making supplies, you also sell a variety of finished candles. Because your town is a tourist destination you probably chose the location on Main Street for your shop that would be convenient for tourist foot-traffic. Physical location is important in this case.
What about your location on the Internet? Isn’t this location also important to a candle-making supplies business located in Tourist Town? Can you afford NOT to be located on the World Wide Web? What would you need? A website that offers a catalogue of products that can be ordered and shipped via the site. You could have a blog that talks about how to make candles, how to display candles, what candles would make good gifts for which occasions. You could even offer a free subscription to a monthly newsletter to fans of candle making. You could utilize an online newsletter and autoresponder service to take care of the newsletter.
As a business owner you could locate yourself in a business social marketing site like FaceBook or LinkedIn as a way of promoting both your physical store in Tourist Town and your web-based store on the internet. Your “location” in the social marketing site gives you added exposure.
Location, location, location…it’s not just your snail mail address anymore.