This article first appeared in the May, 2007 edition of the Jacksonville Business Journal
The internet has dramatically changed the business world. The amount of commerce conducted over the internet grows logarithmically each year. Virtually any product or service can be found and purchased. It makes no difference how large or small your company is or where it's located. An entrepreneur working out of a basement can have the look and feel of a multi-billion dollar corporation.
The question is not whether or when your company should start using the internet, but how long you will continue to survive if you don't begin to tap into its potential.
The Emergence of Web 2.0
To understand the opportunity the internet provides for ALL of us, we need to understand the emergence of web 2.0.
Essentially, when the internet first evolved (web 1.0) it was like a huge filing cabinet filled with information. If you knew where to look there were billions of sheets of paper available to you at the click of a button. But the web was essentially passive. The stuff was there, you had to search for it, and you were on your own.
Web 2.0 represents the new internet generation. Our kids get it. Many of us haven't figured it out yet. Here's the fundamental difference. Web 2.0 is dynamic and interactive. It is an environment where people who have similar needs or interests find each other, connect, and communicate. There are many tools that make this easy. Google, Ebay, Myspace, Utube, Yahoo, Blogs, Chat rooms and more.
The fundamental shift to Web 2.0 is that people who have common interests can find each other - when and how they want to. They can make themselves known or remain anonymous. Users are in control. Access is essentially free, and the potential for return is exponential.
The Potential
Think about what this means as a marketing tool. You can have access to millions of people and it doesn't cost you a dime beyond managing your site. If you create a buzz and people come to your website you can attract thousands - even millions - of potential buyers and your advertising budget hasn't been impacted.
It doesn't matter whether you're selling a product or a service. You can reach people and they can find you. It even happens while you sleep.
Some of you may be thinking: "I don't have a product or service that is designed to sell over the internet. It really doesn't apply to me." Don't be so sure.
One of the most powerful uses of the internet is to create influence. Let's say you sell an insect control service. You may not get customers to sign up for your service over the internet. But, if your site provides the source of answers to questions that people have then you are creating influence, and that has value. That influence is what causes potential customers to call, and sales to be closed.
Perhaps the most powerful item sold on the internet is knowledge. Put something on your website and have people pay for a download. Offer webinars for a fee. Offer a subscription to a newsletter or provide other information as a "value add." It's magic. Knowledge may be unique in that it is the only product that you can sell and still retain. Every time you sell it you can still sell it to someone else. And if you can sell it over the internet the cost of sale and distribution is far less than it would be through traditional sales and distribution channels.
I know a major national newspaper that added more than one million subscribers over the internet. Think about it. One million subscribers paying their fees to get the paper - and there is no paper to print! No production costs. No distribution costs. And no damage to the environment or consumption of natural resources.
I know a major department store whose internet gift registry now comprises 30 percent of its total sales.
I know one gentleman who conducted a one hour webinar seminar. He was already well-known due to the influence he created over the internet. One thousand people registered for his one hour live webinar - and they each paid $100. Do the math - $100,000 for one hour of his time - working out of his home!
Think hard about the internet and its potential value to you. There may well be hidden business opportunities there... or risks if your competitor gets there first.
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