There is no doubt, our economy is in bad shape. I don't believe we're seeing a temporary phase or a short slump....this is a new economy. The economy overall is making a long term adjustment to many years of wasteful spending and too many unnecessary buying options....and it's not over yet. I think the true survivors will be those who have been making sound financial decisions all along and understand how to spend practically under difficult financial times.
So how does this affect your website?
I always thought having a website is one of the best investments one could make. Websites have been, and continue to be, much more affordable than traditional advertising such as newspapers, magazines, television. Why spend $300 a week or month on newspaper advertising when you can spend a fraction of this price on your website? At least your website doesn't have a shelf life or expire, like newspapers or magazines.
Spend $300 on a magazine ad and within a month that magazine has expired and likely in a trash can. Spend $300 wisely on your website and it can continue to generate leads and increase profits for years to come. The difference is staggering.
Think about it - your website is available for anyone to see 24/7, 365 days a year. What other types of advertising have the same profit potential, particularly the cost?
The bottom line - consumers are still actively using the web to search for products and services. It's no coincidence that brick and mortar stores are either closing or experiencing very tough times while online retailers like Amazon.com continue to report record sales in late 2008.
This is a good time to boost your web presence by either getting a website, revamping it or using Google to maximize targeted click-thrus to your online business.
In future posts I will give specific details on how investing in your website can maximize profits for your business.