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While consumer spending has slowed down since the financial meltdown last year, these trends provide an opportunity, as well as a challenge, for small businesses today. Since you're reading this newsletter,Â you're already savvy enough to appreciate the value of smart web marketing – online marketing channels allow you to target your audience with special offers, unique up-sells and value-add propositions that can help increase your revenue even while overall consumer spending is down.
In today's economy, there are no "one size fits all" offers – each consumer responds to a different message, price point and feature set before deciding on a purchase. Given the ease of comparison shopping, there are dozens of vendors within each industry vying for new business.Â Since you can segment your search ads, landing pages and product offerings for each type of consumer, it's possible to out flank your competition through improved targeting.
Suppose you're a dentist serving a college town and looking to expand new clients. Rather than just providing standard ads with your contact information you can offer specials such as free teeth whitening when you refer a friend or 50% off initial visits for new students. These types of offers resonate with the demographic you are targeting, and, when combined with the proper graphics, can result in higher conversion rates.
Intelligent web marketing can help you generate new business during a recession, since consumers are always looking to save or upgrade their vendors. By providing a cost-effective, intelligent set of features for your consumers, you can grow your bottom line even as the economy is shrinking.