If you are doing business the same way you were six months ago, you may be in for a rude awakeing. I am all for the old saying, “If it ain’t broke, don’t fix it”. However, in this new volitile environment that adage simply will not prove to be helpful. Even if your business has not yet felt the pressure of the economy, it most likely will over the next 12 months. Many major companies experienced fantastic growth in 2008 but are now wondering if they will enjoy the same growth in 2009. Sometimes it just takes some time for the economy to catch up with certain industries.
I am in a professional organization for executives and business owners called Vistage. The various “Chapters” in the organization usually have 8 to 12 members each from a different industry. The group sessions have guest speakers and discussions about all kinds of business issues from core values to how to motivate employees. Now the entire focus is on how to grow, maintain, or at least keep your business from going under in this rough economy. Well guess what the newest topic on the agenda nationwide is…that’s right, Internet marketing.
Naturally all business owners are tryig to find more cost effective ways to market and sell. Regardless of what your budgets are you simply can’t “afford” to not market. If you are having trouble gaining market share and reaching your target audience through your current marketing channels, then NOT marketing will certainly not solve your problems. In comes the discussions about Internet marketing and social media marketing.
In the Internet marketing industry it is our responsibility to educate businesses about how to effectively reach their audience in a more economic (and creative) way. Internet marketing is not just more cost effective, it is actually measurable. You simply can’t effectively measure the ROI of a print ad. Plain and simple. All companies need to take a very serious look at how they are spending their money as well as how their current revenue streams and strategies are helping them reach their goals. Many companies will go through dramatic shifts over the next 6 months and the ones that survive will be better for it!