Recession is a period of general economic decline and is typically accompanied by a drop in the stock market, and increase in unemployment and a decline in the housing market. It is also a business cycle contraction which results in a general slowdown in economic activity, which we are currently experiencing in our Nigerian economy.
Inasmuch as this as this affects many people and businesses negatively, it is also a good time to start a business. Recession brings problems but starting a business that can meet the immediate needs of the society would be a good way to thrive during recession. An easy and efficient way of doing your business in these times is by putting your business online. The world has become a global village with everything online, if you have a business without a website you would be missing out on a lot of opportunities that having a website affords you.
Here are some reasons why you should have a website for your business during recession.
- ACCESSIBILITY: Having a website makes it easy for your customers to access your business any time without worrying about closing time. Consumers will prefer the option of going to your site instead of going to your physical location. Just make sure to post enough information about your products and services.
- SAVES COST: Having your business online can help you save cost especially startups, because normally, to start a business renting a shop is key and sometimes you might not have enough funds to do that. But with a website can start with the little you have in the comfort of your home and just put them online, then have a good delivery system.
- CUSTOMER SATISFACTION: Your website has the potential of being your customer care centre where you can attend effectively to the needs of your customers. Having a website will be more convenient for your customers. An FAQ section on your website can also help the customer with the required information the customer needs to make a buying decision. They would prefer to go to your site get all the information they need and make their order. Just be sure to have what they need and make it easy for them to purchase from you.
- INCREASED LEAD GENERATION AND SALES CONVERSION: Having website makes it easy for you to interact with your customers, know them through social media, blogs and feedback session. The more you know about your customers, the higher your chances of generating leads from that information that can eventually be converted to actual sales.. This means more customers and more profit.
- GROWTH OPPORTUNITY: Having a website opens you to the opportunity of potential investors because your site shows what your business is about. This can help your potential investors make decisions about your business..
- EASY TO USE AND UPDATE: Unlike print media, radio and television, a website is easy to change and update from any computer on the internet irrespective of where you are. With the use of a Content Management System, the need for specialized knowledge is greatly reduced.
- PROMOTE AND SELL PRODUCTS AND SERVICES: Having a website makes it easier for you to give detailed descriptions about your products and services through pictures and videos. It makes it easier for you to explain your product to a lot of people at the same time without talking.
Having a website for your business in recession takes you to a level higher than recession; the success of your business is no longer dependent on the economy of your surrounding location but by the global economy.
Have you lost your job? Are you unemployed? Or is your business having difficulty thriving under recession? Why not try having a business online.