The current economic crisis can be a frightening time for any business, but is particularly stressful for small businesses. There is a great deal of uncertainty and many questions – can we attract any new customers? Is anyone going to be able to afford my product? Will our business survive?
Just remember that every other business and individual is also feeling the pinch. They want to find the right items to fill their needs without wasting money or time on irrelevant or non-vital products or services.
In order to survive and even thrive in this economy, a business needs to become essential to its customers. Small businesses have the advantage of being able to change course quickly to adapt to changing circumstances, where large businesses may take a long period of time to implement any reasonable change. So are there ways your business needs to adjust?
Examine the services and products that you offer. Can they be adjusted or improved to appeal to those on a tight budget? Can you offer an introductory value service to let people see what you have to offer? Do you cater to a specific niche or to a well-off audience? In that case, you may not feel the same pinch that other businesses do.
No matter what product or service you offer, you’ll need to get the word out to potential customers. Wise marketing is one important key to differentiating yourself from the crowd. While other businesses are pulling back from marketing efforts, you can step in to fill that gap.
Use SEO – search engine optimization – online advertising for a relatively inexpensive, organic marketing method, giving you value for your dollar and introducing potential customers to your products and services. SEO marketing through techniques such as article placement, directories, social networking links, and refreshing your website with fresh, SEO copy will raise your placement on SERPs – Search Engine Return Pages – and send more customers to your website.
Once customers reach your website, be sure you provide excellent, persuasive reasons for them to use your product or service. Let them see why they need what you have to offer, and you’ll find the way to thrive despite the tough economy.