October 7th, 2008 Dow Jones took a dive by a whopping 508 points. Over the past three months global markets were hit by an $8.1 trillion loss in value. Banks fail one after another, panic in the Wall Street… That’s what already came to be known as the biggest economy meltdown since the Great Depression.
The helter-skelter of the stock-exchange swiftly resonates everywhere. With media fuelling the buzz you need to have a steel nerve or live deep in the forest not to be concerned with the crisis thing. The home-grown economic prophets loudly predict ‘the end of the world as we know it’.
The last thing you’d want to do in times like that is start a business, right? – Not quite.
Great Depression Creates Great Opportunities
History knows a lot of cases when economic meltdowns created opportunities for new ventures and bold startups as well as remarkably profitable marketing investments. The Great Depression turned out the golden ticket for hundreds of businesses. Disney, Procter & Gamble, Camel and Chevrolet, to name a few, were among the companies that bloomed and thrived while others were desperately fighting for survival. They saw an opportunity and seized the moment. They were advertising when others cut down marketing budgets. They offered new products when others thought no one could afford to buy. They stayed calm in the across-the-board market mess and they ended up outstandingly victorious.
What does it have to do with you? Everything. The ongoing crisis is your chance to start a new venture, grow your business and make money even when the economy seems to go wild. And the best place to do this is online. Against the background of economic downturn the prospects of the Internet market look especially promising.
Why Online Business is Recession-Proof
Although the cyberspace is tightly tied to the real-world economy, the negative market trends seem to turn out the positive way online. Both retail customers and investors seeking ways to safeguard their capitals end-up putting their money online. Here’s the proof that Internet market is here to stay no matter what goes on offline.
* Shoppers go online
In every recession it is the low-to-middle class who take the biggest blow. When big companies go bankrupt it is the regular workers who suffer most. Off course CEOs and investors lose monstrous sums but at least they don’t have to worry about how to feed the family.
In times like that people do their best to tighten the belts and cut the expenses. We go hunting for bargains and the first place to look at is the Internet. The reasons are obvious: you can compare prices without leaving the house; you don’t have to waste time and money on the gas running around the shops and you can really buy cheaper over the Internet.
Offer the best price and people will buy. Make a discount on something they could do without but would rather own, and people will buy. What’s even more important, even after the economy goes stable, your customers will stick with you. Read on to learn how to pick the right product and get a discount for it.
* Companies Invest in Online Advertising
However slow the economy is a business needs to invest into advertising if it wants to stay afloat. Under the tight budget ROI (Return on Investment) becomes the focal point. The Internet offers lots of measuring instruments other media lack. Computer technology allows tracking the money you earn from each banner or text ad up to the last cent. Therefore businesses cut down or completely abandon the press, and TV, but they’ll never give up on SEO, contextual or banner ads.
Outsell Inc., The Interactive Advertising Bureau (IAB), IDC and other research agencies all report Internet advertising growing at a galloping tempo (18.2% for the first quarter this year) while print, TV and outdoor ads lose their share of the market.
IAB reported that advertisers invested $5.8 billion in Q1 2008. Part of that money could be yours.
With marketing budgets zipped up businesses seek every opportunity to advertise online. If you have a website or blog with some traffic companies will line up to pay you for advertising. If you don’t have any, it’s very much the time to start one. Read on to learn how to create a successful advertising platform and promote it in the search engines.
Selling ads space is just one of the many ways to make money online. There are many more such as paid subscriptions, affiliate marketing, review posting, sponsored directory listings, etc. They all create great opportunities to start an online business. And of course, you don’t need to put all eggs in one basket. You can combine various online marketing techniques into a powerful money making blend that would be 100% recession proof, no matter what goes on across Wall Street.
Here’s a Step-By-Step Guide To Starting an Online Business
What does starting a business start with? Naturally before you start selling something you need to decide what that something will be. So your first step is
1. Choosing a Product to Sell
A product to sell is not necessarily a ‘product’ as such. It could be a paid subscription or a service and you don’t even have to ‘sell’ it directly. You just need to offer something of interest: information or functionality that will drive visitors to your website and will make them want to stay and come back. Get traffic and you’ll have tons of ways to transform it into cash.
There are a number of things people are most interested in now. Here’s a list of
What’s Hot in Cold Economy:
People’s desire to know what’s going on doesn’t cease in bad times. Moreover, the worse it gets the bigger their interest. The ‘hottest’ right now is financial information.
According to comScore Media Metrix the number if visitors to finance-related websites jumped 30% this year. European websites skyrocketed to record peaks of up to 141% in traffic growth.
Start a blog or website about anything in the finances from the market trends to personal investments and loans, promote it in the search engines and you’ll see tons of traffic you can convert into money. Read on to learn how.
During the Great Depression people went to the movies to relieve the stress and forget about their problems. Nothing has changed over time except for the movies. The general trend is when bad things happen people still pay for entertainment even though it’s getting harder to afford.
With economy staggering and stock exchange falling down the bills still remain the same. And bills are to be paid. Naturally we want to save on everything. If you know how to show us the way to a good bargain we’ll stick with you. And bargains are plentiful on the Internet. You just need to take the time to find them and gather in one place.