Making money during the credit crunch
For the past few months we’ve been hearing about the credit crunch and the impending recession. And then the past few days have been full of news about banks going bankrupt and the impact it’s going to have on Joe Public: higher unemployment, higher food prices, less cash to spend on luxuries and generally lots of doom and gloom for a year or so.
Naturally most small business owners are nervous about sales slowing down. A poor economy has an impact on businesses of all sizes but small business are vulnerable to the slowdown in consumer and business spending. Equally worrying is that a negative impact on their business has a direct impact on their families as well.
So now is a good time to take a look at how you’re marketing your business and evaluate what results you’re getting from each activity.
A great piece of marketing advice I was given was that if a marketing activity isn’t generating any benefit for your business then stop doing it! It’s not going to suddenly start working for you, regardless of whether you were advised to do it or if your competitors are doing it. A great example of this is advertising. If it isn’t bringing in at least as much cash as you’re spending on it then stop! If you don’t know if it’s bringing in money then start finding out!
If those marketing activities aren’t working then look at other activities. Is your website generating leads and sales? If not then why not try to fix it. You can do this for FREE. Take a look at my FREE website optimisation eBook. It’s written in a simple, non technical way for small business owners to increase visitors and sales from their website.
Now isn’t the time to stick your head in the sand and wait for the credit crunch to go away. That’s what big businesses are doing! Now is the time to use your strengths as a small business and be creative and agile.
If you want to increase your sales and revenue during this lean period then start generating business through your website.
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Hello,
I am, Mark
lots of info on here
this is my site:
http://iVPYvT.spaces.live.com/