Location. Location. Location.
It’s the business idiom of idioms…”The three rules of success in business are Location, Location, Location.” Traditionally this meant finding a structure located in an area. Ensuring it was surrounded by an audience likely to have interest and/or consideration of your product. And that your product was offered within the store.
Oh how life has changed in the 2nd era of tech. We all know we’re in a global economy. Our addresses are transposed with a URL. Your product may only require a link to deliver — and is more likely a product of thought than true labor. And your potential audience is now limited only by the ability to find them. Entire industries have been created by this…jobs like Demand Gen, Data Analysts, etc.
So the easy question is does Location matter anymore? As should be obvious, in the literal sense: no.
But let’s say for a minute that we suspend the colloquial meaning of location. Your new location is your url. Your proximity is the extent of your outreach on every platform imaginable. Your consumers are more likely than ever to share and impact the opinions of future customers.
Put differently, location means voice. Location means social and content marketing. Location means the stance your company takes, and the impact it hopes to have. Location is redefined to mean the micro and macro of how your consumers interact with your product.
So let’s stop with the idiom as it was…and let’s re-write it to what the idiom should be for today’s world:
“The first three rules of success in business are Brand, Brand, Brand.”