Harnessing the Potential of the Local Market – MaybeMoney

Harnessing the Potential of the Local Market

Harnessing the Potential of the Local Market

Let’s be honest, unless your online store idea is extremely groundbreaking, you’ll face stiff competition. Whether from digital behemoths like Amazon or an army of aspiring artisans on eBay or Etsy, you’re not likely to monopolize the market. With internet marketing growing at a staggering 67 percent rate, according to Forbes, the competition is only set to intensify. There are several strategies you can use to gain an advantage. Traditional and social media advertising campaigns are one such method. If that doesn’t sit well with you, consider focusing on your local market.

More than Farmers Markets

Vendors at farmers markets are growing more digital-savvy to remain competitive. In fact, many of the larger markets insist that vendors are capable of processing debit and credit cards. If you’re lucky enough to have a local farmers market, you should definitely be leveraging it. But don’t stop there. Forge connections within your community and explore smaller, local venues.

Securing a spot at church fairs or library craft exhibitions is an effective method to showcase your products, often without heavy fees. The ideal mobile POS solution can make the process easier without requiring significant investment in equipment. There, you can interact with community members and publicize your business. One of the major difficulties in e-commerce is giving your store a personal touch. By connecting with your local market, this feat is attainable.

Local Stores and More

Another promising avenue for your e-commerce business is local stores. Discuss with store owners the possibility of displaying some of your products. Labeling your products as ‘locally made’ is a significant selling point, especially for stores that deal with unique gifts. However, avoid the trap of leaving your products and only checking occasionally to see if they’ve been sold. That strategy won’t help you establish the connections you need to drive more traffic to your online store. Offer to conduct demonstrations or teach classes about your craft.

Like most local small business owners, understand the significance of community involvement. Despite lacking a traditional brick-and-mortar store, make attempts to engage with your community. Introduce your product to the local market through markets, fairs, and local goods stores. Engage in community activities and volunteer work to connect with the people around you – while doing good in return. A strong community presence can attract more customers from your community. There’s no reason to overlook the straightforward strategies you can implement to earn the trust of potential customers right in your neighborhood – even as your online store targets a global audience.