Mar 24 2008
Tips to Help Website Owners Survive the Recession
Recessions Stink! Money is tight for just about everybody right now. When it costs you almost double what it used to cost you, just to fill up your car with gas… it is only natural to make spending cuts in other areas of your life. There are many reports of people not spending the way they were spending even a few months ago. The retail industry is hurting, and I think we are going to see this really cutting into web based sales as well. If you are a website owner that relies on selling products, do you have a plan in place to help you get through the hard times?
Here are a few tips to help you get through this recession…
1)Cut back on advertising spending- You won’t usually hear me recommend advertising cutbacks, but this can really help save you some money in the short term. Keep any saved money in your advertising budget for when the economy turns around, and there are buyers ready to spend money. Don’t use your advertising money elsewhere unless you have no other choice. I recommend holding back advertising dollars to spend when consumers are ready to buy.
2)Reduce any website maintenance charges- If you are paying a firm to make updates and maintain on your site, see if they can reduce your monthly fees for less service in return. Now is a good time to see about reducing any monthly charges that may go unused. I recommend really streamlining your books and seeing where any money is being spent for little in return.
3)Offer Special Deals- No matter how bad the economy may be, there are still buyers out there. You may need to search harder to find them, or just offer a deal they cannot resist. Try coupons, free shipping, or throw in some extra products for them. By making this customer happy you are now able to convert a sale into a long lasting customer. Also, people who get a smoking deal are more likely to tell their friends and family.
4)Plan for the future- Now is a great time to plan for the future. You probably have a little more free time now then you did back when business was booming. Take any downtime you have to create a plan for when sales pick back up again. Maybe not is the time to plan a site redesign. You will be a step ahead of your competition if you already have a “after recession” plan ready to go. Make sure your books, inventory, staff is standing by for when this recession is coming to an end. Don’t cut resources until you cant afford to pay them anymore. Just remember, things will get back to normal after this recession runs it course.
5) Try to Gain Free Publicity and Brand Recognition- Use the free resources out there to try and gain brand recognition, even if they don’t generate immediate sales. Sites such as Craigslist and Backpage are free, and can help drive brand recognition. Post on these sites regularly. Also try to get listed on as many directories as possible. Also reach out to possible business partners to share links. Slow times can be great times to help build your SEO strategy. The work you put in now will pay off big time when the recession is over and money is ready to be spent.
Try some of these tips and the recession will be over before you know it. Good Luck!
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