'Target those customers and market segments which you think will be most recession proof, at the expense of those that you think will suffer the most'
Now I'd been thinking a lot about this one recently, for my own online marketing consultancy business. I'd been trying to think of industries and market segments which might do well out of an economic downturn, especially with PPC.
I thought of the debt sector, which I have done work on in the past, but I know I'd have to be incredibly selective about who I work with as I really wouldn't want to profit from other people's misfortune.
Then I thought about the addiction and rehab sector - another market I've worked on which spends big on PPC. But a contact of mine from this area, said this market could in fact be hit at the upper end by city exec's getting their health insurance slashed, preventing them from checking in for a detox.
It eventually took someone else to point out the obvious. I was discussing my relief at the recent article I'd seen about online ad spend being up with Anna, who works with me part time on SEO. I backed this up with some evidence of old small business leads getting back in touch with me after a few years.
She pointed out that maybe I should forget industry sectors and look at products instead - which led us to think that clients might not be so likely to engage people like ourselves on an ongoing consultancy basis, but instead small businesses might be more keen to pay for training in Adwords and SEO so they can do the work themselves.
I really like this idea, as I've always been realistic and comfortable about people trying to implement our advice themselves if they don't have a large budget, and I think training sessions will really appeal to small businesses who know they should be doing something online but don't know how (or what).
So that's what we are now working on alongside regular consultancy work - a programme of seo and ppc training courses starting off for small businesses in Kent. I'll keep you posted!
Now I'd been thinking a lot about this one recently, for my own online marketing consultancy business. I'd been trying to think of industries and market segments which might do well out of an economic downturn, especially with PPC.
I thought of the debt sector, which I have done work on in the past, but I know I'd have to be incredibly selective about who I work with as I really wouldn't want to profit from other people's misfortune.
Then I thought about the addiction and rehab sector - another market I've worked on which spends big on PPC. But a contact of mine from this area, said this market could in fact be hit at the upper end by city exec's getting their health insurance slashed, preventing them from checking in for a detox.
It eventually took someone else to point out the obvious. I was discussing my relief at the recent article I'd seen about online ad spend being up with Anna, who works with me part time on SEO. I backed this up with some evidence of old small business leads getting back in touch with me after a few years.
She pointed out that maybe I should forget industry sectors and look at products instead - which led us to think that clients might not be so likely to engage people like ourselves on an ongoing consultancy basis, but instead small businesses might be more keen to pay for training in Adwords and SEO so they can do the work themselves.
I really like this idea, as I've always been realistic and comfortable about people trying to implement our advice themselves if they don't have a large budget, and I think training sessions will really appeal to small businesses who know they should be doing something online but don't know how (or what).
So that's what we are now working on alongside regular consultancy work - a programme of seo and ppc training courses starting off for small businesses in Kent. I'll keep you posted!
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