What lessons can we learn from Britain’s failing High Street?

In recent months, the decline of well-known high street brands such as Commet, HMV and now Blockbuster has shocked nobody. But what can we learn from these failed companies, once such trusted stores and at the top of their game?

‘Future-proofing’ your business is easier said than done. If we knew what was going to happen in the near and distant future, I’m sure we would all make different business decisions. Suffice to say, it’s crucial that we raise our awareness of the constant changes in the economy and the huge importance of embracing the online sector as a method not only to sell, but to communicate and market your business.

Depending on the nature of your business, it’s vital you embrace the power of online marketing and e-commerce. All businesses should use email marketing, social media, and where relevant, have an e-commerce side to their retail business. But just doing that is not enough. Understanding and using these tools to their full power is crucial.

Last week I received an email newsletter from a business. There were no links to their website, no offer details or even contact details. Essentially, it was pointless.

If you are ready to embrace these methods of marketing, do it properly, either yourself, or using a company who can do it for you.

  • Jo Spencer is head of the Lake District branch of GAP PR and Marketing Ltd and works with colleague Polly Winder. Together, they help local businesses decide on the right marketing strategy for them – www.gapgb.com