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If you are promoting an e-commerce site, you need to be aware of how the recession or tightening economy has affected potential site visitors.
For instance, many consumers have been tightening their belts and have become much more savvy about interest rates, credit cards and so on. This means that they may have changed credit card providers and, in some cases, because of media coverage, are actually ‘boycotting’ certain brands or providers.
Whilst the wider recession may not have seemingly affected your business, particularly if you are selling electronic goods this Christmas, it may have affected your consumers’ approach to finding, buying and paying for goods.
So, for instance, if you only accept certain credit cards, you could be losing out on customers. If you are not featuring in the comparison engines, you could be losing out to your competition. If your product set is now deemed to be a ‘luxury’ rather than essential, you may need to look even harder at how you capture the attention of your potential audience.
Keep a weather eye on news about consumer spending habits over the next few months and check that your website, or that of your clients, reacts to the changes being made by those that matter the most – your customers.
VizCom Designs Daniel Robinson advises companies to spend more not less on SEO and internet marketing during these times of economic difficulty in this article. As less business becomes available, it is necessary to fight harder to win a slice of the pie and stay afloat, Mr Robinson suggests.
Many companies appear to be scaling down ad budgets etc and the Financial Times has reported this week that this is beginning to affect the online advertising industry.
For those with a little bravura, there are untold opportunities during a credit crunch to access the market as the playing field levels.
For instance, there is likely to be a downward movement of pay per click keyword prices, offering smaller companies a chance to leap into the void left by those who find themselves cash strapped.
