A lot of questions we get are from people with an idea. They want to know if their idea can be turned into the next big app, and maybe a business for them. In many ways, apps, and sales through those apps, have replaced brick and mortar stores as the bare-bones infrastructure needed for a business. Whereas in the past you could open up a brick and mortar and rely on foot traffic and sightings physically going past it, you can much more easily rely on and manage a business with an app, to the point where many traditionally brick and mortar locations have identified the need to have an online presence.
The above graph from the US Census Bureau shows the growth of E-commerce sales as a percentage of retail sales to the present day. The rapid growth of E-commerce cannot be denied, and the space only has room to grow as new and old brands alike figure out how to navigate the digital realm.
This is why it is important to dedicate resources towards your digital presence, because that is where the biggest source of growth is. This of course is no secret to anyone who considers themselves tech savvy in the least, but the requirements for a decent digital presence are more involved than one may think. It used to be enough to have a website and that would become the facade of the business if you had no physical market. Now the rules are more similar to investing money rather than time, that is to say you need to diversify your presence. Time and again we have seen businesses doing great on one form of social media and fail at others, thus not generating leads and sales as efficiently as possible, and possibly even harming your image on other digital platforms should they be connected.
The end result is the same principal as stock investing, DIVERSIFY.