This week’s Entrepreneur University comes thanks to Max Kalles. Max is a certified internet consultant and conversion marketing specialist with WSI. He has presented at internet conferences around the world, and his workshops and seminars have helped hundreds of business owners improve the results from their website.
Today Max discusses how web marketing and communications will fare through the current hard times:
“Isn’t it cute? The (relatively) infant marketing medium that is web 2.0 is starting to live through the first economic crisis of its lifetime. Even when the tech bubble burst, web 2.0 was still just a glimmer in Google’s eye. Besides, the tech bubble was far too focused to be a crisis; more of a lesson learned.
In previous economic tough times, marketing took some big hits. When businesses panic, they often look first at the bottom line and the quickest ways to improve it. We are sure that “keep what’s essential, ditch the rest, starting with marketing!” has echoed through more than one boardroom. Internal communications didn’t stand a chance either. Wanton slashing of brochure, newsletter and video budgets was common. The thinking was that companies could get by without all the “communication” and pretty pictures.
So how will web marketing and communications fare through the current hard times? Even in previous crises, there was always those voices who insisted that marketing and communications were needed “now more than ever”. It’s more important during tough times to keep the brand in consumers’ minds. It’s a big world and somewhere in it, someone’s spending money. Sustaining the brand flame keeps a company visible as all the other lights go out.
But, can web 2.0 keep your business turned on? If anything, this crisis might be the coming of age for internet marketing. Even in previous crises, if companies could afford it, they would keep their marketing channels open and flowing as much as possible. The advantages are obvious. Cost is the main reason for cutting marketing programs in tough times – not because they are a bad idea.
This is where the bloom might never come off the internet rose. Any company; your company, can keep the marketing flame burning bright through any crisis because of web 2.0. Why? Because it doesn’t have to cost anything.
Web 2.0 allows your company direct access to your customers without any intermediaries – and it’s the intermediaries that usually gobble up the budget. Your customers are there, on the web, throughout the crisis, and you just need to get online and connect with them.”
Are you worried about marketing yourself and growing your business with the current economic slowdown?
Matthew Toren is an Award Winning Author, Serial Entrepreneur, and Investor. He Co-Founded YoungEntrepreneur.com along with his brother Adam. Matthew is co-author of the newly released book:Small Business, Big Vision: “Lessons on How to Dominate Your Market from Self-Made Entrepreneurs Who Did it Right” and also co-author of Kidpreneurs.
And who better then to hire an experienced blogger? Someone that knows how things work in the Internet and spend a great deal of time networking and discovering new ways to generate income.
I think businesses will start recruiting experienced bloggers to help them grow their online marketing channel, while reducing their traditional marketing expenses.
I couldn’t agree more since in times of economic downturns, pleople will spend more time than ever searching online for more cost-effective solutions for their needs.
The situation is most probably the best opportunity for a small business owner to penetrate a given market and grab a chunk of meat from the big players. With the current crisis, entrepreneurs and small businesses has an incredible edge over the big arena because of their flexibility and their innovations. Connect with your customers and build a charismatic brand that matches their quality.
I agree 100% with you here Evan, in times like this though, it may help our businesses grow in ways we wouldn’t even imagine. Keep up the great work!
[...] he shared with us how web marketing and communications will fare through the current hard times (What Crisis? – Entrepreneur University). Today Max shares with us the importance of asking for the sale on your [...]
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