Inevitably, as a marketer, you’ll be asked about digital marketing and social media. While these are important topics to cover, they are only part of the picture. The rise of the “sharing economy” and digital nomads puts a spotlight on remote marketing. More businesses are accepting the possibilities of virtual marketing and relying less on traditional approaches.

Why Marketing in the Sharing Economy

The economy as we know it is changing, and marketers have to adapt. One of the most significant shifts is the ability for individuals to set up shop and offer their services online. The sharing economy provides additional flexibility to consumers and businesses alike, and it’s great for marketing efforts.

Understandably, it can be difficult to keep up with all the various platforms and techniques that are being used in the digital marketing sphere. One of the significant problems is a lack of awareness, expertise, and resources. To save you time and ensure you make the most of the opportunities the sharing economy provides, let’s explore the various ways you can market online.

E-commerce

The e-commerce industry grew from $16.7 billion in 2012 to $26.7 billion in 2018, according to the Global Market Insights Report by Market Oracle.

Electronics and appliances are the two largest e-commerce market segments, accounting for nearly 48% and 41% of the total market share, respectively. However, online marketplaces that specialize in selling fashion and accessories have seen the largest increases, with revenues rising from $5.7 billion to $13.9 billion and $7.6 billion to $17.9 billion, respectively.

E-commerce allows you to market your product or service to people all over the world. From the moment someone makes an order on your e-commerce store to the time the item is delivered, everything is digital. This is why e-commerce is often referred to as “digital marketing on steroids.”

Wholesale

As a marketer, you might be wondering if there’s a significant difference between retail and wholesale. The answer is yes, there is a significant difference. While retail focuses on selling items to individuals, wholesale is focused on selling large quantities of a product or service.

You won’t usually find many marketers who specialize in wholesale, so make sure you have the expertise you need to take advantage of this untapped market. If you do decide to get into the wholesale game, here’s what you need to know:

• Take your time
• Diversify your products
• Find a niche
• Be patient
• Make investments
• Do your homework
• Find suppliers
• Build a team
• Follow the money

Unlike retail, which needs to generate sales every day, the wholesale market tends to be more stable. Additionally, you won’t typically need to meet the demand of individual shoppers, but you’ll have orders coming in from all over the world. In the end, building a successful business in the wholesale space can be quite rewarding.

Direct Sales

In the old days, if you wanted to sell your product or service you would’ve had to go to a retail store and make the sale. Now, with the rise of the sharing economy, direct sales via intermediaries is very common. Instead of dealing with a store, you can connect with a customer via a digital platform and offer your product or service.

The beauty of direct sales is the ability to target the right audience. Instead of reaching out to everyone, you can zero in on a specific niche and reach out to those people. If you decide to go down this route, make sure you create content that appeals to your ideal customer, engage with them on social media, and follow up with a relevant email.

The downside to direct sales is the effort involved in reaching out to prospective customers and then convincing them to buy your product or service. Additionally, once you’ve established a relationship with a customer, you’ll need to convince them to purchase one more product or service from you. The good thing about direct sales is the engagement itself. You’re not just selling a product, you’re also engaging with a potential customer who wants to hear more about your company and wants to be sold more products.

Telemarketing

If you’re looking for a way to target hundreds or even thousands of people, you’ve probably heard of telemarketing. This is where you make phone calls to potential customers to promote your product or service.

The advantage of telemarketing is the scale. You can target the entire U.S. market with just one call. The downside is that, like direct sales, you’re only reaching out to a pre-established audience, and you won’t be able to convince someone to buy your product or service without first establishing a relationship.

In the end, all of these different methods of marketing have one thing in common: They’re all digital. In other words, everything is done online. Of course, that doesn’t mean those methods of marketing are easy or that you need to be tech-savvy to be able to do them successfully. However, it does mean that you can conduct research, track analytics, and adjust your strategies independently. This is a massive advantage.

If you’re looking to take your marketing efforts online, you need to decide what approach you’ll take. The choice is entirely up to you. Will you go the traditional route and use digital marketing techniques to reach potential customers? Or will you choose to go the extra mile and try something new? There are pros and cons to both options, so consider what you’re looking for and choose wisely.