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Should you be on the Internet ? What you don't want to do is be Victoria's Secret. They spent roughly $3 million dollars on a well designed, thoroughly developed site. What they did not do is plan appropriately. They launched their site on Superbowl Sunday, 1999. They paid $1.3 million dollars for a 30 second ad (probably several times). Their site was ready to go. Thirty-five (35) minutes after the ad ran, the site crashed. It was down for 2 days. The stock dropped 13% the next day. They had not accounted for the volume of traffic they would get. Too much volume (more shoppers than expected) is a good problem to have, if you have a strategy to deal with it. |
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You open a restaurant, you have the best Italian food in town; no one is better. You have a uniquely different niche. You saved for 7 years in the rat-race to quit working for someone else and start your dream business. You are entrepreneur. You do a marketing blitz; TV, radio, newspapers and direct mail. It works! People know about you and come to try you fair. You could not have predicted what a success you would have getting people to you front door. This is your dream. Opening day. Everyone is so proud of you. You only put one table in the dining room. |
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Let's hope we would have known better than to put one table in a restaurant dining room. Restaurants have been around since the cowboy days. Almost anyone would have predicted that problem. The Internet has only been a wide-spread commercial medium for about 4 years. Victoria's Secret has been a market leader in their niche for 36 years. They are a marketing legend; their name is lingerie. They put one table in the dining room. Everyone needs help sometimes. |
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