Brick & mortar companies, click & mortar companies, internet-only companies.. I remember feeling so interested just by the coinage of terms!
There are lots to be gained by companies who finally decide to have Internet presence. Apart from the immediate extension of distribution channels, brand equity, economies of scale and what not, the most to be gained from is the whole new feedback mechanism that your products and services are exposed to. You now get immediate, usable feedback from your patrons; in fact, you can probably do away with your Market Research and idea generation teams!
This brings me to more serious thinking: if your company’s not doing good in the Internet age, you are definitely not giving your customers what they want! If you are planning to go online with your business, make sure you have the stomach and the head to make use of customer feedback: listen up or you’ll soon shut shop!
