How is the economy affecting your business?

Discussion in 'General Business' started by lkpub, Nov 28, 2009.

  1. #1
    Have you found your income dropping drastically? Sales down? It seems to me that everyone is being affected and even with the Black Friday holiday weekend upon us no one is buying... not even on eBay... what are you doing to generate traffic and SALES?

    Inquiring minds would like to know... ;)
     
    lkpub, Nov 28, 2009 IP
  2. brainwreck

    brainwreck Peon

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    #2
    Have you tried advertising some coupon codes on the big deal sites like slickdeals.net or gottadeal?

    I posted some thursday evening and had a near record day yesterday.
     
    brainwreck, Nov 28, 2009 IP
  3. BadBoyzStudioZ

    BadBoyzStudioZ Peon

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    #3
    You do what you can. People buy what they want, not what you want them to.

    That's the problem with the Internet. It doesn't have anybody there to really sway the thinking of consumers. They read very little unless they are interested in the subject. What a good salesperson does is spark their interest. I don't think sales pitches on a website do that no matter how good they are written. If a person purchases something, they already had the mind to do that to begin with and your text based/graphical sales pitch is not their reason for making a decision.

    People use the Flash based "live" sales person, but 60% of the Internet does not have a Flash plugin, so that's more than half the market. Probably another 15-20% don't have any sound, so they can't hear it anyway.

    Sales on the Internet are the same as in the real world. It is about numbers. The more you have looking, the better your chances are for a conversion. Same formula that has been around since the dawn of time.
     
    BadBoyzStudioZ, Nov 28, 2009 IP
  4. Sensei.Design

    Sensei.Design Prominent Member

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    #4
    well it's not affecting my business at all but there are some things that change that are to timeconsuming to make more money
     
    Sensei.Design, Nov 28, 2009 IP
  5. crmb

    crmb Peon

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    #5
    When sales go down, I find it best to re-establish yourself by broadening your net. If you've got it and someone else doesn't, and you can ship it today - you aren't one step ahead - you are leaps and bounds ahead of your competition. When everybody else is selling down their inventory, I say time to increase it.
     
    crmb, Nov 29, 2009 IP
  6. bryanon

    bryanon Well-Known Member

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    #6
    Here's the golden theory: "When the economy is good, every 9 year old can make a killing. During bad times, only the smart ones do."

    The moral of the story being that you should look beyond the 'typical' business models. There's opportunities in everything, including the recession - you simply have to find ways to profit from the recession itself. The money has not gone anywhere, you simply have to find it.

    As for your question - personally, the recession has been great for my business! I'm using the fact that many people are broke to my advantage and profit from it.
     
    bryanon, Nov 29, 2009 IP
  7. lkpub

    lkpub Peon

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    #7
    Congratulations! Just out of curiousity, do these sites allow digital products? Can you list Affiliate Products?

    Any suggestions as to what steps to take at these sites to be successful? I'm sure many of us would like to know... ;)
     
    lkpub, Nov 29, 2009 IP
  8. Digital_shubhi

    Digital_shubhi Illustrious Member

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    #8
    Well, I also never felt any problem.
    Everything is going nicely over here.
    Business is also going smoothly without any drop in sales.

    - Mr.President -
     
    Digital_shubhi, Nov 29, 2009 IP
  9. Malok

    Malok Peon

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    #9
    No significant changes to report here businesswise - although, I will admit I'm working harder for the transactions that I am getting. So, I suppose that one could argue that there is a cost associated with that. But anyway, gross revenue is remaining fairly typical/normal right now.
     
    Malok, Nov 29, 2009 IP
  10. opportunity2

    opportunity2 Peon

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    #10
    I think that it depends on what type of business you are in as to whether or not you will be affected. I recently started back selling on ebay and I notice that if you have a hot product that everybody wants then you can demand your prices no matter how bad the economy is, so the key is to have a hot product or service.
     
    opportunity2, Nov 29, 2009 IP
  11. jezzz

    jezzz Notable Member

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    #11
    Free lancing of Web! got effected a lot during this recession period ultimately sales of other web stuff also declined! its hard to say anyone that nothing had effected!
     
    jezzz, Nov 29, 2009 IP
  12. donluttrull

    donluttrull Peon

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    #12
    I haven't seen a decline in the least so far. You just have to market things you know people need and want NO MATTER what their bank account looks like. Those must haves don't go away even if their money does, credit cards have been invented for a reason.
    Don Luttrull
     
    donluttrull, Nov 29, 2009 IP
  13. DimitriX

    DimitriX Member

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    #13
    if people don't buy... I get no affiliate commissions.

    That's how bad it is!
     
    DimitriX, Nov 29, 2009 IP
  14. MoviesP.com

    MoviesP.com Peon

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    #14
    no, it not affects my business at all.
     
    MoviesP.com, Nov 29, 2009 IP
  15. GeeOne

    GeeOne Well-Known Member

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    #15
    I am more in to offline business, the volume and sales were down. But slowly it is improving and hopefully the cycle will complete soon.

    G!
     
    GeeOne, Nov 29, 2009 IP
  16. Jectillplum

    Jectillplum Peon

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    #16
    I never get affiliate commission but i want start make some $ from affiliate program
     
    Jectillplum, Nov 29, 2009 IP
  17. kijakarn

    kijakarn Peon

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    #17
    If people fail , we always have soft ground for your landing ... any ..
     
    kijakarn, Nov 29, 2009 IP
  18. notepage

    notepage Peon

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    #18
    We have not seen any signficant changes as a result of the economy. It is likely because we sell software that is a "need" vs a "want". It saves time/money and increases productivity, so its easier for companies to justify the expense.
     
    notepage, Nov 30, 2009 IP
  19. anujain75

    anujain75 Peon

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    #19
    In my case, it is not affecting me. In fact demand for my article writing work is increasing. I have more orders than I can handle.
     
    anujain75, Nov 30, 2009 IP
  20. Jontish

    Jontish Well-Known Member

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    #20
    I think the Adwords advertisers are paying less.. hoping for a better year now. :)
     
    Jontish, Nov 30, 2009 IP