If the recession has you wondering where all the customers have gone, you only need to turn on your computer to find the answer. A March 2009 economic report from Pricegrabber.com shows that online consumers are spending more time searching the Internet for a deal.
Twenty-five percent of online consumers are spending more time online because of the tough economy, while 53 percent spend about the same amount of time online, according to the report. That means your presence on the Web is more important now than ever. You want your business to be there when consumers are comparison shopping whether you sell online or off.
How can you use this trend to your advantage? Here are some ideas:
- Want to reach more customers? Launch or update your Web site. A whopping 40 percent of online consumers are spending more time comparison shopping online while 54 percent continue to do so at their pre-recession rates. If you’re not online, you’re invisible to this huge potential customer base.
- Want to drive in-store sales? Post printable coupons on your Web site. A full 26 percent of online consumers are spending more time than usual finding and printing online coupons.
- Looking for a free marketing opportunity? Get on social networking sites like Facebook, LinkedIn and Twitter. More than half of online consumers are spending more or the same amount of time on social networking sites.
The study also found that many consumers plan to continue their online cost-savings strategies even after the economy improves, so anything you do now to boost your Web presence should serve you well into the future.