What your competitor is doing in the Financial Crisis

It’s really quite scary to see the extent of which people believe or are influenced by the sensationalistic media about the Global Financial Crisis.

Yes some very large banks and businesses have lost a lot of virtual money, in terms of the stock market.

However, step back for a moment and consider the effect that the global financial crisis is really having on day to day business.   If you ignore the irresponsible sensationalistic media  spinning that we are being fed, is there really a day to day problem.  It’s all about confidence, your confidence.

Here in Australia and especially in Western Australia we are very well placed to overcome this lack on confidence.  So why then are  people in a panic, slashing budgets to the bone, restricting travel, stopping all marketing.   In some cases I know of businesses restricting the sales team in an effort to save money.  Yes it is a little short sighted.

I can let you into a secret I know your competitor’s are:

  • Looking towards the web for cheaper alternatives to traditional marketing.   They know a good quality web site is cheaper that an advert in a major newspaper and about the cost of Yellow pages book or online advert, but with a greater overall impact.
  • Ensuring that their web site is not the cause of customers failing to find what they are looking for.
  • Considering if people are looking at their web site on a mobile phone and  how accessible it is on a mobile phone.
  • Making sure, that their web site is not frustrating their new and repeat customers.
  • Looking at what their competitors are not doing and leveraging that to increase their market share

The real issue is where does your web site stand in all this.  Now is the time to take advantage of any shortfall in your market.