Read an article today that stated online retail sales will continue to rise, despite predictions of sluggish growth in brick and mortars. Interesting I thought. It further stated that 65% of the retailers surveyed said they are eager to experiment with ads on social networks and 55% said they would focus more on widgets in 2008. Sounds fun yet? The report found that online retailers set aside 53% of their marketing budgets on acquiring online customers and 21% on retaining online customers.
I know, thanks for the news but what does that have to do with us? Well, a couple of things that ping back to the multifamily world. People shop online for everything today, housing, services and even a Professional 11 Foot Drywall Lift. Yea, we sold one the other day in the MultifamilyBiz.com Supply House Store. What is more interesting is the fact that companies are pushing money into social networking advertising and creating widgets for other websites to use.
OK, where is the tie Biz Boy! The tie is simple, follow the money. The money is pushing to the net because that is where all the eyes are these days. Yea, we are a little techie over here, but we do anything online we can. It seems the rest of the "can't wait that long" population does as well, follow the stats, follow the money.
Gotta hit The Supply House for a buzz saw for my widgetizer……