Lately, we have been working with brick-and-mortar companies struggling with sales in their stores and want to break into an online market. One particular group we’ve been watching is hobby store dealers. This industry has been hit hard by the ever-increasing popularity of online stores. Amazon, TowerHobbies, and even eBay have shown that selling products might not be as complicated as people want it to be. Fair pricing, fast shipping, excellent customer service. That’s the recipe for a reasonably successful eCommerce store. Are you going to topple Amazon with just this strategy? No. Can you make a comfortable living with this model? Probably. Should you be trying to replicate this model as a brick-and-mortar store? No.
Learning how a physical store can leverage their expertise to grow and compete in the digital space
Sell yourself (or your business) as a service.
Price is generally the most straightforward lever to pull to “sell” your product. Are you not selling? Lower your price. If you’re the lowest price, then you become the clear choice. But what if you want to pay your employees or cover your bills? Then you probably can’t run your brick and mortar store on 10% profit margins. So how can you fund your business? Figure out why you’re better than the internet. For most people, it’s easy. Most people have the expertise, and more importantly, they have something that the internet doesn’t: hands.
Take your average home service company. You’re not calling a plumber because you don’t know how to buy a water heater on the internet. It’s the same with anything else. You start on Google, find a site you like and sell water heaters, check the specs to match what you’re replacing, and then a big brown truck brings to your house a few days later. Then what? Do you know how to solder or braze copper? Do you even know what those words mean? What about the difference between your gas/fuel lines and the water lines? Are you still confused? You’re probably calling a plumber then. Does he sell water heaters? Of course, he does. Is that why you’re calling him? No.
Too Long Didn’t Read?
If your only selling point is that it’s in stock and people can leave today with it, you’re going to have a rough time with things. Now is the time to find ways to enhance their shopping experience. Add value to your customers, and ultimately, they will forget about the cost of the thing they’re buying. You’re passionate about what you’re selling, don’t be afraid to showcase that. You know a lot about wine, model airplanes, or comic books. Showcase that value and help educate your customers and help them have a great experience in your store. Ensure they’re having a great time and walk away enriched. They’ll be your customer for life.
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