The New Economy

The devastating impact of a “perfect economic storm” has ravaged global markets now for several weeks. Sky-rocketing oil prices of the last several months have recently been joined by the fallout of the mortgage debacle, placing enormous pressures and fear on the global economy, with no relief in sight in the near future. This “perfect storm” has ironically created a new set of opportunities for the entrepreneurial minded. Internet-savvy firms such as Heritage Web Solutions are ideally suited to assist both consumers and businesses to successfully navigate through these troubled economic waters.

What does the typical consumer do in the face of high gas prices and the fear or reality of being counted among the staggering number of unemployed workers? The answer is obvious. More and more, consumers will do their shopping from home where possible. No longer is shopping from home merely a convenience and time saver, but rather a financial necessity and budget saver as well. The “new economy” demands this.

What are the implications this “new economy” has for the business owner? Again, the answer is obvious. For the last several years online shopping has grown at an annual double-digit pace. In 2006 online retail sales totaled $144 billion. This figure grew to $175 billion in 2007. The years that lie ahead will continue to show dramatic increases in online sales. Enormous opportunities lie ahead for businesses with an effective online presence. Business owners without an online presence will become increasingly vulnerable in this “new economy”.

An effective online presence begins with a “pretty face”. First impressions are critical to online sales success. The look and feel of the website must then be complemented by easy navigation, images and copy that are supportive, but not intrusive, effective search engine optimization, and online marketing. The temptation to “do it myself” must be avoided at all costs. The business owner must engage the services of a professional firm that can consult and advise on all aspects of online marketing. The opportunity cost far outweighs the short-term savings. Remember, the friendly staff at Heritage Web Solutions is only a phone call away.