Its happening everywhere. Stocks are on the decline, earnings reports are bad, people are being laid off and this is all in big business. So your thinking to yourself how can I possibly weather this economic storm if I’m a small or medium size business without the huge resources of larger companies?
What most news articles and reports don’t mention is that even in the face of cutbacks to marketing budgets most companies turn to online marketing as an efficient and economical way of advertising, generating leads, and driving new sales to their business.
Online marketing can take many different forms, and can mean different things to different business’s. The important thing to understand is that in tough times its the best possible solution you may have to increasing sales even in a tough economy.
So why should you invest in online marketing?
Online marketing not only provides your business the ability to efficiently and effectively target you advertising efforts to specifics groups, it also provides you the ability to maximize your ROI and adjust your approach in almost real time. The reason why many large companies increase their online marketing budgets in tough times is because they are able to analyze what they are spending down to the smallest detail and can tell whether its working very quickly.
Direct Mail and other forms of traditional marketing simply cant offer that. You can mail out 10000 flyer’s and hope the most people look at them before they throw it away and some people actually respond, but its really hit or miss. Turn to email marketing however and now you can target 10000 people via email, know that your email will end up in their inbox, understand exactly how many people took the time to view, know if they actually clicked through to your site, and track them through every point of the transaction. Not to mention its a fraction of the cost of direct mail and you can adjust and target your campaign overnight not weeks later.
This is just one example of how online marketing can recession proof your marketing iniatives. The list goes on from Paid Search Listings, Local Optimization, and website enhancements that can all drive more sales, leads, business, or traffic to your site with the ability to track every detail.
Corporations discovered the advantages of these techniques a long time ago, now small and medium business is getting into the game and if you have considered it yet I seriously suggest you take another look.
It could be the difference between weathering the economy and growing your busines, or getting beaten down by the economic storm.