5 Ways to beat the credit crunch online

Written by Lee

Firstly, don’t believe the hype of it all being doom and gloom for retailers at this time. The credit crunch may be hurting the banks, but like gamblers they could not hide their losses forever. It now feels as though it is everyone ar the banks that are being made to pay for their gambling habits.

People are keeping a tighter reign on spending in harder times, it makes fiscal sense, but there are plenty of people who are still spending online. If you are experiencing weak online sales at this time the question you have to ask is why are shoppers they not spending at your store?

In fairness there could be multiple reasons why your online business is failing at this time.

Working with our clients as closely as I do am I am privy to lots of data and intelligence. Simple matter is I take that data and make an online business better, I make it flourish and I make it profitable.

2008 is not quite shaped up to be the doom and gloom year many analysts were predicting. In fact for a number of Fresh Egg clients online sales are on the up! So why is that when so many are reporting tough times?

One term can sum-up why Fresh Egg clients are beating the current trading climate - Reaction.

Ultimately, you need to give your visitors what they need and them some, but you need to be flexible enough to react in these turbulent times.

So here are my five ways in which you can beat the credit crunch:

1. Special Offers - Internet means bargains, rotate special offers and give buyers a reason to want to spend money. We are all suckers for incentives! Don’t be greedy and offer discounts and keep them fresh to keep the interest going. Monthly offers go a long way to keep the tills ringing.
2. The Right Information - If a buyer feels you don’t want their business, they are unlikely to give you their business. In these harder times you have to work harder to get the sale. If five people have asked you a question about a product then have this information available to view. You were asked a question for a reason, the answer could not be found. If you are cheap with offering the right information to potential buyers, don’t expect them to maintain interest in your offering, no matter what special offers you have.
3. Quick Delivery - If it’s in stock, ship it as quickly as you can. If it’s in stock, tell them it’s in stock. If you go into a shop you may well ask if they have something in stock. But why assume an online shopper is going to ask? The chances are they won’t. If you fail to display stock information the following will apply to you - No stock, No Sale!
4. Communication - You need to put your company in front of your existing customers. Make sure you are sending regular updates to your registered mailing list and keep them up to date with the latest information. Why not give them a discount for being extra loyal in these harder times? Surely it’s better to have some margin than no margin?
5. Impeccable Customer Service - There are dozens of other businesses vying for your customers money, if you are communicating with potential buyers then make them feel wanted, make them feel special.

If you are struggling online, then talk to us. Give us a call on 01903 247788 or email info@freshegg.com and let’s see how we can get you through tougher times.

This entry was posted on Tuesday, May 6th, 2008 at 5:30 pm and is filed under Internet Marketing. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.