In yesterday's Wall Street Journal George Jones, CEO of Borders Books was interview. Jones wil close half of the Company's Stores.
I used to say, "there is no bookstore that I can walk past..." I love books. I love to read a couple at a time and I will from time to time, go to Barnes and Noble for a STARBUCK's and get in some previewing from the shelves--which I don't buy.
I buy the books I want to own on-line. Why? They are clean, fresh copies almost untouched by human hands.
My daughter just gave me Borders books gift certificate. My wife reminded me that we don't have any Borders Stores in Bluffton.
Which brings me to the WSJ interview:
WSJ: (Mr. Jones,) Why are bricks-and mortar stores having such a difficult time increasing sales?"
Mr. Jones: "The Internet is clearly a factor." (DUH) and lots of books are sold
at Wal-Mart in CostCo...this represents lost visits to our store.
WSJ: Early next year, Borders will launch it's own web-commerce site, ending its relationship with Amazon. Are you late in the game?
(SO--Now I can use my Borders gift card! )
Mr. Jones: No, Not at all. Understand that there are many reasons for doing this...
Let me paraphrase the rest of his thinking: the decision to let Amazon do our marketing was made many years ago, the economics have changed and there are options now for third party fulfillment--you had to build massive overhead...by joining Amazon they went from sizable loss to immediate profit (albeit small one)
Myopia is shortsightedness, characterized by elongated eyeballs.
Marketing Myopia is nearsightedness about what the market wants and demands. It is dangerous to any business.
Borders leadership contracted marketing myopia...a condition where one cannot see too far beyond the nose. And now, it seems to me they really need to consider Lasik surgery.
The lessons here: Marketing myopia see things in the distance as they seem to be--what the eye perceives as a VW Bug may actually be a tank.
Mr. Jones, is going to copy-cat Amazon. Close Stores. Build or pay for Infrastructure for fulfillment and he missed the point entirely.
What if...just what if-- he uses the Internet as part of an overall strategy--not just a tactic? What if he said: "I think what we need to do is build a relationship with the reading-book-buying public and we're going to use the internet to do that; we're going to be bull dogs about collecting information on our customers and romance them; we're going to email them, mail them and entice them to COME TO OUR BRICK AND MORTAR stores...We'll add amenities in our stores that customers really want and would come out to enjoy (Like a coffee bar?)
We'll find out what they want and what would get them to come.
Want to increase sales? Serve people their way. See the marketing tea leaves and read them as accurately as you can. Then, give consumers what they want.
Don't you lose. Use the Internet as a part of an overall marketing strategy
--create plans that integrate tactics that are designed to achieve a specific purpose.
Drive "traffic" to your business. Make friends with prospects. The sales will come.
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