Jul
26

What Can Internet Marketers Learn From Wal-Mart and Tesco?

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What Can Internet Marketers Learn From Wal-Mart

What Can Internet Marketers Learn From Wal-Mart?

It can be very confusing at first when you start an online business.

When setting up a small business it actually makes sense to study successful big businesses like Wal-Mart and Tesco. After all you want to be successful too or you wouldn’t be starting a business.

Both of these huge companies were once business start-ups that went on to be very successful. Building an online business is actually very similar to building an off-line business. In fact one of the biggest reasons for failing online is not treating your online business as a business.

Tesco is the UK equivalent of Wal-Mart and their success story is very similar to that of Wal-Mart. I was lucky enough to be involved in working on a huge internet project with Tesco back in 1999. I was loaned by the school that I was teaching in to work with Tesco to set up a national online education project.

That Tesco internet project was so successful that it became the largest website for children’s work in the world and achieved a Guinness Book of Records entry. It was a fantastic experience and I also learned a lot about running a successful business.

Tesco became the number one food retailer in the UK during the time I worked for them. It was an amazing achievement and success like that leaves clues that are well worth following.

The keys to Tesco’s and Your online success

 

Customer service

The main focus of Tesco is customer service. The company is obsessed with customer service. To make that philosophy a reality every member of Tesco’s staff from the store manager down had to spend time every day working on the shop floor. Online we too have to provide excellent customer service. To succeed you need to be always focused on how you can best serve your customer. A great tip for providing great online customer service is to offer a money back guarantee. This reverses the risk for your customer.  You are taking the risk that they will use your product and then ask for a refund. But this is usually a risk worth taking. This is especially useful with information products where each sale doesn’t actually cost money to produce and ship.

Quality

Supermarket own-brand or own-label products traditionally had a low price, low quality image. Tesco changed that. Tesco invested in producing own brand products that were just as good quality as the higher-priced branded versions.

Now in the UK Tesco branded products have a reputation for high quality and great value. The benefit for Tesco is a much higher rating of the Tesco brand and higher margins than it was getting from selling branded products.

Online your reputation and business success depends on over-delivering on quality. We have to meet and exceed our customers’ expectations every time.

Value

In the UK Tesco is renowned for price cutting and special offers just as Wal-Mart is in America. To succeed online we need to copy this by making sure that our products offer excellent value. We can take this a step further by adding bonuses to make our offers absolutely irresistible. Do remember that these bonuses need to be related to your original offer otherwise they may put customers off.

Spy on your Competition

The CEO Tesco at the time I worked there was a businessman who I admire called Terry Leahy. He recently offered this valuable business advice. “Look at your strongest competitors websites, look at their products and learn. Wal-Mart, Aldi and Lidl taught me more than any management consultant ever did”.

In my previous post 3 Simple Ways to Spy on Your Competition, I show some very simple and effective techniques for spying on your competition. You’d be mad not to and I show you exactly how to do it for free. If you haven’t already read this you need to read it now. If you do you’ll be following the advice of one of Britain’s most successful businessmen.

Link: 3 Simple Ways to Spy on Your Competition

Training

For much of my time with Tesco I was based in local store training rooms. Tesco takes training seriously and so should you.

Every store has its own training room and training manager. The company also has its own residential training centre that is run like a 4 star hotel. No one even starts stacking shelves without undergoing a five-day fulltime training program. Investing in your training and skills is vital to your success online. For further information read my article Online Success Depends On Investing In Yourself.

Your Action Steps

If you’re just starting out with your online business I highly recommend that you start by studying the Copy and Profit Blueprint. This blueprint provides tried and tested ways of making money online for you to copy and profit from. You can read full details in my review here:

Copy and Profit Blueprint Review

Or go ahead and order Copy and Profit Blueprint click the link below:

>> Copy & Profit Blueprint <<

Regards,
David Francis

NewInternetMarketingAcademy.com

Related Articles:

My Review of The Copy and Profit Blueprint

Simple Ways to Spy on Your Competition

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Categories : Internet Marketing

Comments

  1. Elmo says:

    Hi! This post could not be written any better!

    Reading through this post reminds me of my previous room mate!

    He always kept talking about this. I will forward this article
    to him. Fairly certain he will have a good read.
    Thank you for sharing!

  2. David says:

    Hi Elmo,

    Glad you enjoyed the article. Thanks for taking the trouble to leave your feedback.

    Regards,
    David

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