Marketing In A Poor Economy
Marketing In A Poor Economy
However, in spite of that, many online businesses are still doing well. Online shopping was up over shopping in traditional retail stores (Cyber Monday was up 15% over the previous year).
People don't stop searching the web just because times are bad, and the number of searches per person are on the rise, so there is still plenty of traffic to be had. Then it becomes the job of your website to convert that traffic.
What you need to know is that people tend to shop differently in a poor economy. They research more, they comparison shop more and they look for more value for the money they spend.
It's true, individuals and businesses are trying to cut costs - but most people and businesses can't stop buying. There are still supplies, inventory, services etc that we need - to function and to run our business. So when people go to purchase these products and services they are more likely to look for discounts/sales and to search and compare on multiple sites.
Now is the perfect time for websites to step up and provide potential customers with the information and incentives needed to get the sale. Do a marketing review of your website and make sure your site is compelling, informative and offers a great deal.
You should look at what special offers you can afford to make to entice people into doing business with you. You can also set a deadline on the special offer in hopes of getting people to just buy right then rather than comparison shopping.
If you know for sure you are cheaper than some competitors place your own price comparison chart on your site so they can compare you to others without leaving your site.
You may also want to consider revisiting your keyword phrases and add phrases that include words like: sale, discount, free shipping on, best price on, cheap, etc. People are more likely to search for products or services combined with these kind of phrases in hopes that they will quickly come across a great deal.
Create a marketing campaign with a special discount for people that have already ordered - offer them a discount for their repeat business. Remember everyone is looking for a good price right now, so reach out to them and show them what you have to offer.
Don't forget Blogging. (By the way, If you don't have a Blog get one up and running - it's a great way to get more traffic into your site and to connect with your visitors.)
You can create your Blog posts around keyword phrases that are highly trafficked and bring in new traffic quickly (Blogs often get ranked very quickly these days.)
Another great idea is to become a resource for people on saving money in their industry - for example if you sell paint, you could offer a report that shows people how to get the most out of their paint can - show people just because times are tough it doesn't mean they have to live with a room or even a whole house that needs work. Top off the special report with a coupon for that can of paint they need. You'll help people, get new business and possibly even gain attention from the media. The media is so focused on reporting on the bad economy and they are constantly looking for new stories related to these hard times.
Being a great resource for people on saving money in a certain industry should garner some attention. The more creative you are with your money saving ideas the more exposure you will get out of it. You could also start a regular "column" in your newsletter or on your Blog that shares money saving tips for people.
The key is to get creative - know your customers (what are they afraid of, what are their needs, what can they do without during rough times and what do they absolutely still have to have) and then come up with a campaign that ends up helping them and you. A great win-win!
Marketing In A Poor Economy - To learn more about this author, visit Jennifer Horowitz's Website.
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There is no escaping the reality of the economy. These are not good times for most people. Many individuals and businesses are suffering.
However, in spite of that, many online businesses are still doing well. Online shopping was up over shopping in traditional retail stores (Cyber Monday was up 15% over the previous year).
People don't stop searching the web just because times are bad, and the number of searches per person are on the rise, so there is still plenty of traffic to be had. Then it becomes the job of your website to convert that traffic.
What you need to know is that people tend to shop differently in a poor economy. They research more, they comparison shop more and they look for more value for the money they spend.
It's true, individuals and businesses are trying to cut costs - but most people and businesses can't stop buying. There are still supplies, inventory, services etc that we need - to function and to run our business. So when people go to purchase these products and services they are more likely to look for discounts/sales and to search and compare on multiple sites.
Now is the perfect time for websites to step up and provide potential customers with the information and incentives needed to get the sale. Do a marketing review of your website and make sure your site is compelling, informative and offers a great deal.
You should look at what special offers you can afford to make to entice people into doing business with you. You can also set a deadline on the special offer in hopes of getting people to just buy right then rather than comparison shopping.
If you know for sure you are cheaper than some competitors place your own price comparison chart on your site so they can compare you to others without leaving your site.
You may also want to consider revisiting your keyword phrases and add phrases that include words like: sale, discount, free shipping on, best price on, cheap, etc. People are more likely to search for products or services combined with these kind of phrases in hopes that they will quickly come across a great deal.
Create a marketing campaign with a special discount for people that have already ordered - offer them a discount for their repeat business. Remember everyone is looking for a good price right now, so reach out to them and show them what you have to offer.
Don't forget Blogging. (By the way, If you don't have a Blog get one up and running - it's a great way to get more traffic into your site and to connect with your visitors.)
You can create your Blog posts around keyword phrases that are highly trafficked and bring in new traffic quickly (Blogs often get ranked very quickly these days.)
Another great idea is to become a resource for people on saving money in their industry - for example if you sell paint, you could offer a report that shows people how to get the most out of their paint can - show people just because times are tough it doesn't mean they have to live with a room or even a whole house that needs work. Top off the special report with a coupon for that can of paint they need. You'll help people, get new business and possibly even gain attention from the media. The media is so focused on reporting on the bad economy and they are constantly looking for new stories related to these hard times.
Being a great resource for people on saving money in a certain industry should garner some attention. The more creative you are with your money saving ideas the more exposure you will get out of it. You could also start a regular "column" in your newsletter or on your Blog that shares money saving tips for people.
The key is to get creative - know your customers (what are they afraid of, what are their needs, what can they do without during rough times and what do they absolutely still have to have) and then come up with a campaign that ends up helping them and you. A great win-win!
Marketing In A Poor Economy - To learn more about this author, visit Jennifer Horowitz's Website.
Like this article? Share it with your friends
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John PowerJohn Power, founder of Biltmore Franchise Consulting, has extensive experience developing and marketing franchises and business opportunities. He has been in and around franchising for over twenty years. From 1980 through 1990 he conceptualized, organized, and developed the American Video Association. He grew AVA to 2,000 national members, before selling the company it 1990. It was later merged into another home video marketing company. From 2000 to 2005 he worked as a contract marketing and human resources consultant to several local and national companies. In 2005 Mr. Power began working as a franchise development consultant on a full-time basis. Since that time he has helped more than three dozen companies initiate and develop their franchising program. He notes that there are many companies interested in developing a franchise program, and who need his specialized assistance. Mr. Power is a “hands-on” franchise consultant. He said, “I am the ‘nuts and bolts’ person who tends to the details for my clients.” Mr. Power holds a B.S. degree with a major in Marketing. See: www.biltmorefranchise.com You may contact Mr. Power at: jpower@biltmorefranchise.co - Visit John Power's Website |
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Dave KurlanDave Kurlan is the founder and CEO of Objective Management Group, Inc., the industry leader in sales assessments and sales force evaluations, and the CEO of David Kurlan & Associates, Inc., a consulting firm specializing in sales force development. Dave has been a top rated speaker at Inc. Magazine's Conference on Growing the Company, the Sales & Marketing Management Conference and the Gazelles Sales & Marketing Summit. He has been featured on radio and TV, including World Business Review with General Norman Schwarzkopf, in Inc. Magazine, Selling Power Magazine, Sales & Marketing Management Magazine and Incentive Magazine. He is the author of Mindless Selling and Baseline Selling – How to Become a Sales Superstar by Using What You Already Know about the Game of Baseball. He created and wrote STAR, a proprietary recruiting process for hiring great salespeople, and he writes Understanding the Sales Force, a popular business Blog and is a contributing author to The Death of 20th Century Selling and 101 Great Ways to Improve Your Life, Volume 2. - Visit Dave Kurlan's Website |
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Jeff FosterWebBizIdeas.com is a Minneapolis website design company founded to help people start an internet business by providing them with website, business, and internet resources that help foster the growth of successful online businesses and develop innovative Internet business ideas. We specialize in internet consulting & internet marketing. - Visit Jeff Foster's Website |
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Stephanie RobeyStephanie Robey is President and CoFounder of Pivot Positive, LLC - an Internet marketing business focused on helping people start work at home ventures. Previously, she was employed at The Search Agency with over 20 years experience in graphic design and 10 years experience in online marketing. She was responsible for launching the Conversion Path Optimization (CPO) unit where she and her team have conducted hundreds of optimization tests for online companies across multiple verticals. She is a successful entrepreneur having started and sold 2 companies and remains on the board of directors of the third, PhotoSpin.com Stephanie began her career in the direct marketing realm creating and producing direct mail for many of the major cable television companies and directly attributes her understanding of Internet marketing to those early offline experiences. Stephanie is a graduate of San Diego State University with a BFA in Graphic Arts and also holds an Executive MBA from the Graziadio School of Business and Management at Pepperdine University. Read Steph's Blog Meet Steph and Dave Sign up for our Free 7-Day BootCamp: Self Employed & Rich - Visit Stephanie Robey's Website |
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Joe DagerJoe Dager is President of Business901, a progressive coaching company providing no-nonsense direction in areas such as Lean Six Sigma Marketing and organized referral marketing. What others say: In the past 20 years, Joe and I have collaborated on many difficult issues. Joe’s ability to combine his expertise with “out of the box” thinking is unsurpassed. He has always delivered quickly, cost effectively and with ingenuity. A brilliant mind that is always a pleasure to work with.” - James R. If you want to learn more about Business901, start a conversation with us. We can be found @ Web/Blog: Business901.com Web/Blog: FundingYourNonprofit.com LinkedIn Profile Follow me on Twitter - Visit Joe Dager's Website |
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David AchesonDavid Acheson is the founder of DCJA Consultancy. DCJA Consultancy is a management consultancy business specialising in B2B sales consultancy. They offer bespoke and packaged sales consultancy including Sales Optimisation Review, Interim Sales Management, Sales & Marketing Review, 1:1 Sales & Management Staff Analysis, Management Training, Solution Sales Training, Creation of New Pay Plan, KPI's, run Customer Feedback Campaigns, assist with Recruitment, Coaching, Appraisals and set up Strategic Marketing Campaigns. David spent his early career in accountancy and then moved into sales in 1982, working in Office Equipment, IT, Advertising, Training, Outsourcing and Consultancy. He has held many Senior Positions in SMBs and Global Organisations including Head of Sales Operations & Head of Business Development. His knowledge, skills and great experience of the Sales Industry has led to David making keynote speeches and running educational sessions to key businesses through organisations including The Chamber of Commerce and Business Link. - Visit David Acheson's Website |
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Jay Kubassek(Jay's Full Bio: EvanCarmichael.com/jaykubassek) In five years, Canadian-born entrepreneur Jay Kubassek went from selling mufflers at a Midas franchise to revolutionizing Internet marketing with the 2004 launch of CarbonCopyPRO, a online marketing education company, now worth over $20 million with customers in over 160 countries.
As an independent film producer, his upstart film fund Aliquot Films is currently producing a films with Spike Lee and Abel Fererra (starring Ethan Hawke and Dennis Hopper.)
Jay's entrepreneurial spirit is irrepressible. He’s the owner of five companies, a professional speaker and trainer, international real estate developer/investor, extreme sport enthusiast and emerging philanthropist. Jay resides in NYC with his wife Jamie, son Milo and dog Cooper. Visit Jay's official website: www.JayKubassek.com - Visit Jay Kubassek's Website |
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John AlexanderJohn has taught keyword research and SEO skills to small groups of business owners and Webmasters from over 80 different countries world wide since 2002. John is also the Director of Search Engine Academy ; Co-director of Training at Search Engine Workshops offering live, SEO Workshops with his partner SEO educator Robin Nobles, author of the very first comprehensive online search engine marketing courses at SEO Training Online and the SEO Workshop Resource Center. I look forward to hearing from you! - Visit John Alexander's Website |
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