Becoming More Effective in a Poor Economy
Wednesday, November 26th, 2008With the market on a downward trend and consumer confidence down, now is the time for businesses to find opportunities to expand their outreach to their customers. A strong presence on the internet is a viable option for every business to get to customers they don’t already serve.
Wait a minute… According to American Research Group, Inc the average amount people plan to spend on the internet this holiday season is about half of what was spent on average last year and people who plan to buy online are down from 36% to 30%. Why should I invest more into the internet when online purchasing is predicted to be lower now? With the entire economy struggling, one should expect a decline in online purchases as well. What isn’t down, however, is the number of customers going to the internet to get information to make their purchase decisions. According to Bazaarvoice, 72% of shoppers plan to research their products online and 83% of shoppers said online product reviews or evaluations had at least some level of influence in their purchase decision.
My father-in-law is a perfect example of how the internet has changed the way people shop. This Christmas he wanted a Nikon D80 digital camera, and used a lot of time researching the best deal here in town. As the ads for Black Friday came out, he was increasingly excited as he found deal after deal on the camera. The first ad showed a discount from over $800 to over $700. Another company had the same camera for sale for $649. He was committed to going to that retailer on Friday until he found a better deal still while researching the camera online. He came to me extatic when he found he could by the same camera with the same accessories for only $579 plus shipping. He never shopped on the internet before, but is determined to do more online buying in the future.
With a growing number of your customers turning to the internet, an effective website has become a must have for businesses today. We have already covered the components recommended to create an effective website, and I recommend you review it again.
Right now is the time to get more aggressive and, most importantly, more efficient in obtaining customers. An effective web design paired with successful internet marketing will open your doors to more customers and put you in a better position to compete.
