Don't Let Economy's Downturn to Get You Out of Business

t's no secret that the United States, and most of the rest of the world, are involved in perhaps the worst--and certainly broadest--economic crisis the world has ever seen. In the United States, the disaster is being hailed as the worst in 100 years, or since the Great Depression. Between Main Street and Wall Street, everyone is feeling the crunch, and businesses both large and small are having to reorganize and cut down on expenses.

Large corporations often have more choices of ways to fight themselves out of a crisis than small businesses, or start-ups do. Larger entities can lop off a few hundred workers, issue more stock, sell off some assets, and a number of other options to add capital or lower expenditures to successfully navigate troubled economic waters.

During troubled times, advertising and marketing departments often find themselves near the chopping block, especially companies which use email marketing, PPC, and other forms of internet marketing. Large companies with the resources to advertise across all media, and with advertising budgets of hundreds of thousands, if not millions, of dollars to spend, can trim the fat by 10-15% and keep right on rolling. But smaller companies? Should they cut back on their advertising as well? The answer is a resounding no!

Small businesses which rely on the internet as their prime source of advertising must adapt to the new economic landscape, for sure, but drastically cutting advertising expenditures is a sure recipe for disaster. What is called for during these times is evolution, efficiency, and intelligence. While you don't have to be an expert in online marketing, you should know enough to be able to make your campaigns more effective. And if you don't know this, then now is a good time to learn! So with that in mind, let's look at a few tips to help small businesses get quality traffic without breaking the bank.

1. Never buy traffic or sign-ups. This is one of the cheapest ways to get traffic to a blog or website, but just having hits does not mean more sales. Much of this type of traffic is unqualified, meaning that the hits are likely from people who have no interest in your product, so why would they buy from you? The best conversions come from interested customers who have at least some general desire for what you are selling.

2. Save by buying separate SEO services. While it may seem that one person should be able to multitask several different online campaigns, hiring out SEO to a professional will assure that this important task is done the right way. In addition, a large portion of the SEO process, once completed, will never have to be redone, and so, will pay dividends for a long time to come.

3. Experiment. Now is the best time to innovate and try new ideas. Like you, others are searching for bargains and different strategies during these times as well. If you have lower cost products, maybe now is the time to start pushing those, rather than the more costly ones. Consider packaging your items in different combinations, or offering something for free with a purchase.

4. Don't outsource important communications tasks. If you are targeting the US market, do not outsource your writing and customer support to non-native speakers. Although it may be cheaper to outsource to non-native speakers, the quality of communication is almost always lower. During these times, customers should be valued more than ever, and every effort should be made to make them feel comfortable with their purchase and with the quality of your service. Also, there are surely lots of native writers and speakers looking for work, so in that regard, it should be easy to find talent.

5. Do outsource simple, yet time-consuming tasks. Things like social bookmarking, link building, forums, and blog commenting can be outsourced, and should be. These tasks take up lots of time, and keep you from doing more important things to grow the business. Having someone to cheaply do these tasks is an efficient way of outsourcing without jeopardizing the quality of the company.

The recession is here but that doesn't mean that your company can't still be profitable. Times like these require small business owners to be more intelligent than the rest, and by increasing efficiency and making good management decisions, your small business can not only survive, but can also thrive.

By Elena Konkina