Potomac, MD (PRWEB) March 17, 2008
During times of economic uncertainty, small business owners should look to cost-efficient internet tools to keep business in the black, according to Yanik Silver, a leading internet entrepreneur and author of the new book Moonlighting on the Internet. Silver outlines 10 ways small business owners can use the internet to ride out tough periods:
1) Frankenstein Marketing" - Your team will yell "It's alive!" Send an email or letter with a special offer to inactive customers to bring them back to life.
2) Follow the 10 Pound Cheese - There is a great lesson from shopping at Costco: people will buy 10-lbs of cheese if there is a savings. Offer volume discounts.
3) Join the Conversation - If everybody is talking about the recession, create a "recession package" of goods or services at a discount.
4) Lean on the Calendar - Make use of promotions tied to holidays or events - folks will splurge on the right occasion.
5) Downsell - If you have an expensive package, offer a stripped down version or provide payment plans.
6) Upsell - Offer a premium version or something extra that customers normally purchase. Don't bait and switch...just make mention of the other things included in your bigger package and let customers decide.
7) "Be the Connector" - Your customer list is an asset to tap into even when they're not in the market for your product. Get paid by business partners for selling complimentary products or services.
8) Do Thanksgiving Early - Show your best customers your appreciation by doing a sale just for them.
9) Be Entertaining - Create themes and be fun. Recently, I created a "Baby Z" sale to celebrate the birth of my daughter Zoe and made $57,000 in 2-days.
10) Zig When They Zag - Your competitors are going to minimize their marketing - you should step it up.
About Moonlighting on the Internet
Moonlighting on the Internet, by Yanik Silver, reveals how with virtually no barriers to entry, a level playing field, and an investment of a few hours a week, almost anybody can make $500 to $5,000 online each month. ( http://www.moonlightingontheinternet.com).
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