Friday, February 25, 2011

Changes in Business




Today, local business owners are in a hungry market. They need more work. They need to attract more clients. They need to adapt to the changing economy. However, the market is changing, or more specifically, how to reach that market is changing. Understanding the change and meeting the challenges of it are essential to survival of businesses.

Case in point: One local business was spending $8000 per month on Yellow Pages advertising that cost more than it was bringing in. It doesn’t take long before smart business people realize that such a situation is a losing cause and needs to be fixed. So they stopped the ad. However, now they have an $8000 budget for marketing but don’t know where to put it, because they don’t know Internet marketing.

But these entrepreneurs realize the Internet is the future. More than 2.6 billion local searches are performed online every month. This number grows by more than 50% each year. In fact, 80% of people search online before they make a purchase. They now prefer this type of search over Yellow Pages or the newspaper. Therefore business owners need to be online in an effective way. 

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