Small Business Recession Tips
It’s hard to tell just what the market has planned for you and your business. Even the best industry analysts didn’t see the mortgage meltdown coming — nor did they imagine that the housing market would be stabilizing itself so soon in 2009. As you know, many businesses are still struggling — monolithic businesses, at that! If you own a company or corporation, you’re likely wondering how you can stay afloat when so many others are sinking. Here are some practical recession tips to help you swim.
One of the first recession tips you often hear is to switch your offline marketing to online marketing campaigns. “Content marketing is becoming the ONLY marketing,” remarks Julie Wisdom, Executive Creative Director for Babcock & Jenkins. She says that your first step is to order and organize web content — whether it is articles, blogs, press releases, home page content, ad copy or videos. All this content can then be repackaged and recycled. For instance, a white-paper can be translated into a video or ten different mini-articles; blogs can be reworked into a Q&A section or a press release. Look for a wide variety of channels and audiences, she adds.
While you consider these recession tips, it’s important that you keep your chin up and look for new ways to connect with shoppers. Nearly two-thirds (65%) of online shoppers who “abandon” their shopping carts will return in 1-2 days to actually purchase, found security firm McAfee in a recent study. Moreover, their study found that businesses with better brand recognition saw shorter turn around times. Veteran shoppers will buy sooner than newcomers. Merchants selling unique merchandise see quicker turnarounds, compared to highly competitive offerings. Novel products and services that are suspected to be overpriced will sit on the e-shelf for longer as well. Lower priced items also move much more quickly, the study found. Therefore, it’s important to create your marketing campaigns with these ideas in mind.
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