While news reporters and commentators are still hesitant to call this a recession, we have all started to feel the pinch. And like most people, you might be looking for ways to save money.
It is not surprising then, if you wonder if a recession might hurt your website.
Is Your Website At Risk?
To determine if your website will be greatly affected by changes in the economy, there are three questions that should be asked:
- Does your website sell something that is a staple? If your website sells something that is needed by people, regardless of the state of the economy, then it is likely that your sales will stay high. Some examples of staples are basic clothing, toiletries, footwear, office supplies, and paper goods.
- Are your offerings unique or do you have many competitors?If you have a unique product or service, then you will have guaranteed business. But if competitors exist, they might affect your position in your market, especially if they are able to offer lower prices.
- How do your prices compare to other similar products or services? It is also important to research the market and find any similar products that users might be able to substitute for yours. If there are a lot of alternatives that buyers can choose from, your website might be at risk.
Brace Your Site For An Economic Downturn
Even if your website is at risk, there are ways to make it successful regardless of the state of the economy. However, it will be important to think outside of the box and employ some less than traditional methods.
1. Widen Your Customer Base
One of the great things about operating a website is that you can reach anyone with an internet connection. This means that you do not have to be limited to your neighborhood, county, of state. Instead, you can sell to customers all over this country and in other countries.
By opting to widen your customer base, you can easily target other, more robust economies, and generate income even when the local economy is stagnant.
2. Get Creative With Web Marketing Strategies
Many people have continued to use the typical approaches to internet marketing, such as pay-per-click and banner advertising. However, these types of campaigns can be very costly and give little return on investment.
Instead, we suggest using other low cost or free advertising options. For example, you might consider using press releases, article marketing, blogging, and social bookmarking sites. Another feasible option is creating an affiliate marketing program. This way, you only pay for successful advertisement. (See more options in our article 5 Free Ways to Increase Your Website’s Traffic.)
3. Find Other Ways To Make Money With Your Website
It might also be helpful to brainstorm other ways to make money with your website. Some things that you should consider are affiliate advertising, Google adsense, or selling ad space.
By adding another method for generating revenue, your website will always be working for you.
Ways To Save Money
In addition to recession-proofing your website, it is also a good idea to evaluate your expenditures and find ways to reduce costs. Some areas that should be considered are listed below:
- Web hosting costs. If you are regularly being charged for bandwidth overages, consider upgrading your plan or moving to a new web host.
- Maintenance costs. While it might seem relatively inexpensive to pay for occasional updates to your website, you might want to consider having a web developer integrate a content management system to enable you to maintain your website yourself. Yes, the initial costs may be great, but over time, a lot of money will be saved.
- Domain Fees. Domain registration fees typically range from $6 to $50 dollars per year. If you are opting for a standard no-frills registration service, we suggest you register your domain from GoDaddy. Additionally, it is a good idea to find a discount code to save money on any domain registration fees. (To find a discount code, simply use a search engine.)
A recession doesn’t mean that your website will be negatively affected. With a bit of work and increased marketing efforts, your website can weather any slow economic period.
Alexa traffic rank, provided by Alexa.com, is a measure of how much traffic a website gets. Alexa rank takes into consideration both the number of unique users that visit a website (known as reach), as well as the number of pages each user views (known as page views).