10 Focus Areas for Small Business in Slow Economy – Tips for New Internet Business Owners
The economy has hit everyone. The finance industry, the manufacturing, oil & real estate are all in bad shapes. It is quite possible that the bad economy will last for 12 – 18 months & could occur again.
More & more competent individuals looking at the internet to earn extra money & some generating significant money from the internet.
Although the slow economy could slow their plans, there are some areas where you can focus on right now. These can help you make good money even in tough times & do even better when the economy improves.
1. Re look into your website design & see if you can make any improvements. While you do that, also check if your website has all the Web 2.0 tools. A few of them are the social networking options, polling options & the ability to ping. If you are using WordPress, we have a lot of essential WordPress codes to help you get more traffic. Twitter tools are also very important to your blogs.
2. Look into your web hosting services. We have a list of the best performing & cost effective web hosting services. Very recently we saved almost $ 500 a year by consolidating our websites. You may also like to stop all the non-performing websites. That would also save you money, time & frustration.
3. In the same lines, take a close look at your CPC CPA & CPM advertisers. Many advertisers are finding it hard to provide good ads. Google too is suffering in the slow economy – not only has the contextual ad quality gone down, but the PPC rates are very low. You may also start signing up for Shopping Ads. Data shows that the slow economy has made more people look for online deals & shop online – saving fuel, time & getting the best deals.
4. Submit your websites regularly to search engines. Remember to submit not just to Google but submit to all popular search engines as well. In the long run your online success would depend not only on Google but also on Ask.com, MSN.com, yahoo.com & some of the European & Asian search engines as well. It is a bad idea to ignore them now.
5. Compile your website & blog visitor statistics. Look into the posts & articles that are popular. Research those topics more & post updates again. While you are researching website statistics, look at all the different countries your visitors are coming from. In case these countries do not have the same language as your website, you may want to have a translation plugin.
6. Write paid freelance articles. Numerous websites hire freelancers for professional articles. Start your work-at-home career for $7.00. Get direct access to thousands of freelance and home-based jobs. Click here to find work now. This gives you the flexibility to control your own income & balance between all your businesses. Many also let you post your own link, allowing you to build your website’s incoming links.
7. Write reviews of products & review websites & get paid for writing. You can Sign up for free with Blog Reviews set your own review price & then bid on open review opportunities. Advertisers pay from as low as $ 10 for a review to as high as $ 500 for the reputed authors & blogs.
Another option is to get your post sponsored. Internet businesses buy posts from bloggers. This helps them in their marketing & also helps them increase their page rank.
8. Build your followers on social networks. Twitter, LinkedIn & FaceBook are excellent places to start building your online communities. Socialize with the intent of socializing & not with the intent of getting more visitors. If your followers like you & see your contributions valuable, they will usually stay with you. Otherwise you are just spamming the system!
9. Invite your readers & people from your community to write on your blog. Guest posts, though not as popular, also helps in link building. You can also offer money to review your website or blogs. They build great inbound links & over time proves to be an inexpensive way to build link popularity.
10. The biggest effect of a tough economy is people’s unwillingness to spend money. This is a great opportunity for you to offer things at a discount, or more appropriately free. Free always does not been bad quality.
You should give things for free that your readers would otherwise love to pay money & buy. If you offer something useless for free, no one would anyway buy it. Worse, it would spoil your brand reputation. I think it is also a good choice to mention why you are giving something for free.
Many bloggers & online business owners request an email subscription to their newsletters in return for some free download. This is a great way to generate new subscribers. You should also be aware that just because someone is signing up does not mean that you get a proper subscriber. Many use bogus email accounts to sign up! But then again, I always hope that people respect business model & do not commit that nuisance.