Image source: Gronkca
Pen Heaven, a London-based luxury stationary ‘etailer’, was founded in 2008 by Keith Cole. Today, Keith’s son David (pictured right) runs the operation with a team of 10 digital experts at Hawthorn Retail Park.
The business, which began and continues to grow exclusively online, offers unique personalisation and engraving services while also acting as an ecommerce platform for high-end pens and accessories.
David told Bdaily about the benefits of running an exclusively online business and breaking into a niche market digitally. He said: "When we first decided to take the plunge and set up Pen Heaven, the idea of opening a physical store was quickly shelved.
"These days, going online is essential rather than optional, and starting up entirely online means a fantastic opportunity to reach a wide audience, keep overheads to a minimum and ultimately, make faster profits. "
"Ten years ago, retail entrepreneurs would have to think about renting a physical shop in a prime location, designing the store, renovation costs, insurance, endless building work – all before even considering the task of hiring, training and paying staff.
"We no longer have to do this. Now, a computer and some basic web expertise means anybody can start a business and make sales 24/7, 365 days a year, to any country in the world."
David boasts a wealth of knowledge about running an ecommerce business, and he believes this expertise is key to Pen Heaven’s success, he continued:
"Running a business exclusively online also means you have a lot more scope in terms of marketing, advertising and generally reaching as many customers as possible.
"The crucial element about online is that it’s a marketing tool itself - you can use to really drive traffic to your site consistently.
"Thanks to the wonder of Google, the key for us is search marketing, which means people who are looking for a product that we sell can find us instantly at the top of the Google search list.
"Another great tool is PPC advertising, which means our site shows up on search pages immediately, but also allows us to test key word searches, headlines, prices and selling approaches."
He added: "If you’re an entrepreneur and you want to succeed, picking a niche means you’re going to bypass a lot of the competition you’d face with other approaches.
"Being in a niche means people are already actively looking for the products you sell, which allows you to stand out among larger companies."
David has great faith in niche marketing, and Pen Heaven owes much of his success to his tactical online marketing strategy, he said: "Put simply, working in a niche market is easier, faster and often more profitable. In terms of marketing, you don’t need complex techniques. In a bigger market, you could spend hundreds of hours on SEO and backlinks and not get anywhere in Google, whereas you can do half of that in a niche market and quickly secure a top ranking.
"You can start selling instantly. This also means future competitors will be put off. If they see you leading a niche market, chances are they’ll try and find something different entirely.
"I think the key advantage though, is that by having a much more targeted marketing strategy, you can drive traffic to your website that is focused and have customers whose needs you can easily meet. It allows you to become an expert and a leader in what you do."