Sunday, September 13, 2009

Internet Marketing Advice To See You Through The Current Global Recession

Here's some Internet marketing honesty you won't see many places: right now online marketing sucks. Oh, it still beats pretty much every other form of work-at-home business, but the numbers are way off compared to a year ago.

If you're an old pro at Internet marketing I'm not telling you anything you don't already know, but as an industry we seem to be afraid of telling newbies that things aren't all champagne and roses at the moment. The truth is, even with sales down so badly as a result of the recession, there are still plenty of 6, 7 and 8 figure marketers online - we're just not making AS MUCH as we were until the recession hit.

While the worldwide scope of Internet marketing protects us from most localized downturns, a global recession HAS to impact us, and every big marketer I've talked to agrees sales have been off 50% or more since the last week of April, compared to earlier this year or last year. But nobody's talking about it publicly, and it's become the 'elephant in the room' that no one can ignore.

You can see evidence of it all over the online world - in fact, to a big extent it's separated the order-takers from the marketers. The order-takers - those without a marketing background - are trying to compensate by dropping their prices to $1 and $2.95 to try and get more people to buy. This creates a negative spiral - they're still not getting enough total income to survive, and have to be constantly rushing new products (mostly resell rights products) to the market. You see them sending out a new product every third day now...

Don't misunderstand - these are people that were doing well before the downturn hit. It's just that they come from all walks of life before coming online, and don't have experience marketing through a recession. Most of this group got by entirely on resell rights and private label rights products, and don't have their own materials to throw into the pot.

The true marketers, on the other hand, haven't dropped prices, but instead have added value to both their sales process and their products. From releasing great training videos to offering free e-books, they've upped the ante and moved the 'free line' to pay it forward by offering helpful content BEFORE the visitor even sees a salespage. Then they've added more content to their product or included bonuses to beef up the value while holding the price line.

All of that hasn't protected them from the recession, but at least it allows them to make as much as possible during this period and maintains the perceived value of their products. And it's a lot less work than preparing a different product every 2 or 3 days...

Mind you, the smartest ones are putting in extra effort now too - looking for marketing tactics they haven't yet incorporated into their strategies, such as podcasts, videos, press releases, etc. When Willie Crawford and I recorded the Top Traffic Tips we highlighted 15 different ways to promote your site and products, and few of us use all 15 regularly. But a little extra time now to develop additional targeted traffic streams can pay off both instantly and down the road.

So, with all of that, how can you both protect your current market share and best position yourself for the recovery?

Internet Marketing Advice Continues Here...

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