Location, location, location. For decades, that’s been one of the most trusted (not to mention shopworn) adages in retail marketing.
But this is 2012. These days, we’re experienced online consumers. We use Google Shopping to compare prices. Track down web reviews and ask for advice via our social networks. And even shop and make purchases using our mobile phones.
All of which begs the question: what exactly does location have to do with retail and service-based commerce these days?
Well, as it turns out, plenty. That’s because when it comes to local businesses, most of their business is, well, local. For example, 85% of a store’s customers live within a five-mile radius, according to a 2010 BizReport study. And if you’re a small business owner looking to get consumers through your door, that kind of data provides an excellent indication of where you should be dedicating future marketing spend: local, local, local (as in local ads, local search, and local direct response campaigns).