In a shaky economy, the tendency to think only in terms of cost-cutting opportunities, though understandable, may be shortsighted or, worse, counterproductive. In fact, tough times can provide small businesses with growth opportunities.
It is precisely these times when most companies (large and small) look for new, different and potentially less expensive ways to conduct their businesses. Much like Wall Street brokers see downturns in the market as a chance to buy shares, small-business owners also must recognize and take advantage of opportunities to generate new leads during these tough economic times.
Online efforts
Traditional advertising and marketing have their place, but more studies are showing the benefits of online marketing.
For example, according to the U.S. Small Business Administration, more than 50 percent of small businesses fail during their first year and 95 percent fail during their first five years. However, small businesses that advertise online fare better overall.
And contrary to the common perception that every small business needs an advertisement in its local Yellow Pages, surveys conducted by The Kelsey Group, Princeton, N.J., show that newspaper and print Yellow Pages are on their way out—print Yellow Pages sales are expected to drop 10 percent this year.
What's more, a recent study by The Nielsen Co., New York, shows 74 percent of people now use major Internet search engines such as Google™ and Yahoo!® to find local businesses.
With millions of potential customers searching the Internet for local services, small-business owners no longer can afford to ignore the benefits of these online alternatives.
Online lead generators
One group of firms—online lead generators—provide full-service, turnkey solutions that can connect small businesses directly to people searching for them online.
One common misconception is that people will magically access a newly created Web site. However, unlike a storefront where businesses benefit from walk-in traffic, more than 100 million Web sites compete for online users, according to the August 2008 Netcraft Web Server Survey.
Online lead generation services can bring traffic to your Web site by promoting your business's advertisement on leading search engines where people are searching for local services.
When a potential customer clicks on your advertisement, they're sent to your company's Web site, where they are encouraged to call your company directly or inquire further online.
Measurable results
David Ogilvy, who often has been called the "father of advertising," famously said, "I know that half my advertising works; I just don't know which half."
When times get tight, small-business owners want to know their return on investment. With online lead generation, advertising results are more transparent and measurable.
Online lead generators have techniques to measure exactly how many clicks, calls and e-mails are generated from a single advertisement. This can give you confidence that you'll have the information you need to determine whether your online marketing efforts are successful and to change your approach if they are not.
Paying off
Advertising can be expensive and the temptation to cut costs strong, but there is a real opportunity to cash in on new business for less. Online lead-generation companies can deliver results. Consider taking advantage of this service to make your company's telephone ring.
Court Cunningham is chief executive officer of Yodle Inc., New York.
COMMENTS
Be the first to comment. Please log in to leave a comment.