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- Improving Website SEO using Magento 2
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- How a transition to Magento 2 can help you rank better on Google
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- Scalability Gains with Magento 2 - A Myth or Reality?
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- Magento 2 Extensions that Make Your Payment Process More Efficient
- Magento 2 Offers Improved Performance - What the Hype is All About?
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- Magento 2 vs. WooCommerce - Which One is a Smarter Choice?
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- 5 Reasons Why You Should Update Your Ecommerce Website
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- Avoid Making The 10 Biggest Facebook Marketing Blunders!
- How To Use Twitter For Businesses
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9 December 2011
Online Business and the Euro Debt Crisis
Quantitative easing is the name of the game this week as the Bank of England announced yesterday amidst worries about business confidence that it would pump £75 billion into the UK economy in an attempt to keep the country afloat.
That news came as the UK’s largest supermarket chain, Tesco, also published its fourth quarterly drop in sales. The pressures of the euro debt crisis therefore are having a significant impact on the economic recovery the UK coalition government are eager to bring about, as Chancellor of the Exchequer, George Osborne, also admitted this week that should the euro-zone eventually break up, it would cause years of economic hardship for all. In a pivotal decision announced this morning, David Cameron also vetoed an agreement amongst all 27 EU members which is likely to significantly change the UK’s political and economic relationships with its continental neighbours.
True to my recent post on using social media to establish cross-cultural relations, this week I was fortunate to have some great conversations over Twitter with Hansjörg Leichsenring, a former Asst. Vice President of Group Strategy for Deutsche Bank. When we broached the subject of the euro debt crisis, I asked him whether eCommerce would be able to avoid a lot of the problems facing businesses across the board:
“Unfortunately, no. In general, I think [eCommerce] will be no different. It’s all or nothing. No business is safe.”
If this is the case, then it is likely that the euro crisis could affect UK online sellers in two ways, in particular.
Firstly, if you operate in European markets, your customers will be the worst hit, and will likely want to cut down on unnecessary purchases, so luxury goods, specialist equipment, and leisure products will most probably see a dip in sales across the board. What’s more, if there is a choice between local and overseas suppliers, customers may have no choice but to choose cost over quality if fuel prices continue to rise and take shipping costs with them. Similarly, it is likely that customers will become much more discerning when researching products online, meaning marketers will have to work even harder to squeeze a return out of their already limited acquisition costs.
Secondly, if the euro zone were to disintegrate, it would probably result in widespread unemployment across Europe due to the complex trade relationships underpinning the European economy. Should this happen, UK companies relying on European production lines are likely to suffer because competitors will have to renegotiate their contracts at higher prices in order to manage their supply. Add that to the fact that there is likely to be some resentment from EU countries directed towards the UK as a result of Cameron’s treaty decision this week, UK-owned companies may need to reconsider how they manage their relationship with foreign suppliers. In the case of smaller companies, it could also simply be a case of being priced out of the market altogether.
Damage Control?
It’s a competitive time, but then again, hasn’t it always been? There are, of course, ways for online marketers to weather the impending storm.
What you should be doing
Email Marketing: If this is the single most-used internet activity on the internet, there is no justifiable reason to ignore the power of email marketing.
Search Engine Optimisation: Your customers won’t find your website if search engines can’t find it, so it is important to make sure your site is optimised and easy to be found. Since more customers will take more time to research products online, it is even more important to make sure your website features prominently at the top of the search results for a variety of short and long tail keyword phrases.
Pay-Per-Click Advertising: Connecting with potential customers when they search for relevant terms is a sure-fire way to encourage site visits and onsite conversions. PPC adverts show up as featured listings in search engine results are an excellent way to boost traffic, whilst also providing accurate ROI data.
Smartphone App Marketing: The app market is growing and growing, and savvy sellers realise that the future of marketing will be heavily influenced by mobile technology. Allowing your customers to access your products and services on the go could well give you the competitive edge.
Social Media: Word of mouth advertising is arguably the most effective method of marketing. Communicating your sales message consistently through social networks is an effective way of developing brand loyalty. Remember, social marketing is about engagement- it is better to have 5000 active purchasers, than 50,000 window shoppers. Realising who your audience is here is critical.
Are you a business owner? Do you sell online? What are your thoughts? How are you planning on dealing with increased economic and logistical pressures? We'd love to hear about it. Leave a comment below or talk to us on Twitter.
Topics
Latest blog
- 3 Big SEO Mistakes That Is Limiting Your Marketing Efforts
4th April 2017
- Is SEO Really Important for Your Business?
4th April 2017
- Why Your Web Design Needs To Have CRM Integration
10th February 2017
- Updating Patches for Web Domain Security
25th January 2017
- How to Integrate Linnworks with Magento 2 Ecommerce Platforms
11th January 2017
Archive
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2016(2)
March(11)
- What is robots.txt and how can it help with SEO?
- Why what you do for Google helps with Yahoo
- Google’s Research Tools to Find the Right Keywords for SEO
- International SEO at a Glance Part 1
- SEO vs SEM
- Ways to Optimise Your Website in 2016
- URLs and users need to be BFFs
- Do Do Not Not Duplicate Duplicate
- What are Meta Description Tags and How to Use Them Effectively?
- Give Your Web Pages a Little Labelling and a Lot of Love
- Introduction to SEO Month
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- SEO & PPC – A Winning Combination
- Video Marketing Strategy And Your SEO Campaign
- Boost Your Rankings With On-Page SEO
- Let Quality Content Boost Your Rankings
- Taking It Back To Basics; Organic Backlinks
- Is Micro Formatting Important To SEO?
- Writing Good Content For Your SEO Strategy
- The Biggest Search Engine Optimisation No No’s!
- How To Achieve A Perfectly Optimised Page
- Why SEO Is Imperative for Your Business, Online or Offline
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- The Best Web Design Tactics You Can Use
- Web Design Tips and Tricks
- Attention Leicester Businesses
- Mobile Internet – Internet that goes everywhere with people
- Collaborating Design, Development & Content: The Evolution of a Web Designer
- A Picture Speaks a Thousand Words: How Alt Tags Can Help When a Picture Can't
- Making Content and Design Work in Harmony
- Web Design Shouldn't Be Rushed
- The Relationship Between Web Design and SEO
- Quality over Quantity
- Tweeting for success
- How to Engage Your Audience and Retain their Attention
- Using Google Analytics to Improve Your Website
- Ahoy Anchor Text
- Navigation, Navigation, Navigation: Part 2 - How do I ensure that my website has good navigation?
- Navigation, Navigation, Navigation: Part 1 - Why is Navigation an important part of website design?
- How Important Is It to Have a Good UX Design?
- Why it’s Important that FDC Is Almost a Decade Old
- Measuring the Quality of Ecommerce Web Design
- Web Design Mistakes to Avoid
- Resizer: Google’s stance in web design standard practice
- The Future of Web Design
- Why Web Design is About More Than Just Different Colours and Templates
- Minimal, Clean and Simple: futuristic web design
- Looking for an E-Commerce Web Design Agency in Leicester? Look no further!
- FDC Studio - Web Design
- FDC - Decoding Web Design
- Predicting Web Design Trends in 2016
- The Do’s and Don’ts of Ecommerce: how to make your online business succeed
- What Makes Web Design Great?
- Web Design for Leicester-based business Dustraction by FDC
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- Top 4 Benefits of Magento 2 to make shopping carts
- The use of Extensions in Magento 2 for Improved Marketing
- The power of Magento 2 as a Catalogue Management Tool
- The Top 4 Advantages of Magento 2 for Web Developers
- The need for effective E-commerce Platforms
- The flexibility of Magento 2 for Creating Mobile Apps
- Magento 2-The best Content Management System
- Magento 2 Perks for a winning E-commerce solution
- Magento 2 offers amazing Online stores
- Magento creates the best web customisations
- Improving Website SEO using Magento 2
- How to use Maegento 2 to create the best shopping websites
- How to select the best Magento 2 Web Designs
- How to create an engaging E-commerce website with Magento 2
- Creating Beautiful Stores with Magento 2
- Best 5 Features of Magento 2 as a CMS
- Employing Magento 2 for empowering Affiliate Marketing
- 4 E-commerce stores that have successfully migrated to Magento 2.0
- How to Manage High E-commerce Traffic with Magento 2
- How a transition to Magento 2 can help you rank better on Google
- Is Magento 2 Suitable for Small Merchants?
- Scalability Gains with Magento 2 - A Myth or Reality?
- The 4 Best Features of Magento 2 That Make It the Best E-Commerce Platform
- What Makes Magento 2 a Robust E- Commerce Platform for B2B Businesses?
- Generating business through your website
August(11)
- 4 Magento 2 Extensions That Can Reduce Your Cart Abandonment Rate
- 6 Reasons You Should Move to Magento 2
- Affiliate Marketing Made Easier with Magento 2
- How to Migrate Seamlessly from Magento 1 to Magento 2?
- Magento 2 Extensions that Make Your Payment Process More Efficient
- Magento 2 Offers Improved Performance - What the Hype is All About?
- Magento 2 vs. Magento 1- Understanding the Differences
- Magento 2 vs. WooCommerce - Which One is a Smarter Choice?
- The Four Best Magento 2 Themes for Fashion Stores
- Understanding the Tech Stack of Magento 2
- Why Magento 2 is Likely to Win against Shopify in the E-Commerce Battle?
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February(7)
- Is the old way to sell the new way to sell?
- How Magento Can Benefit Your Business
- Compete With the Big Boys with Magento
- Magento: Amazon and eBay Integration
- Magento – Making E-Commerce Easy
- Small Tweaks To Increase Your eCommerce Website Conversion Rates
- 5 Reasons Why You Should Update Your Ecommerce Website
January(6)
- The Complete Package: Get the E-Commerce Website Your Business Deserves
- Climb the Ranks – How SEO Can Increase Business Profits
- Commerce Made Easy with Magento
- Stand Out – Why a Customized Website is Invaluable to Your Business
- Stay in Control – An Integrated Website to Optimize Business Performance
- Effectively Market and Grow Your Business in 2016
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- How to Use Raven Tools to Effectively Manage SEO and Social Media
- Google Merchant Centre – Perfect for E-Commerce Solutions Part 2
- Google Merchant Centre – Perfect for E-Commerce Solutions Part 1
- Google AdWords the Basics Part 2
- Google AdWords the Basics Part 1
- Google Webmaster as an effective tool – Part 2
- Google Webmaster as an effective tool – Part 1
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- How Google works as a Search Engine
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- Are You Missing Out On Vital Marketing Opportunities?
- How To Attract The Female Audience
- Is Your eCommerce Site Designed Around Your Customers?
- Get The Most Out Of Your eCommerce Store
- Avoid Making The 10 Biggest Facebook Marketing Blunders!
- How To Use Twitter For Businesses
- Is Your Business Making The Most Out Of Google+?
- Google+ State That There Is No Concern Regarding Facebook Search Tactics
- Boosting Lead Nurturing Campaigns
- Embrace Open-Source Marketing
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- E-marketing Campaigns: How to Win the Rat Race
- The Golden Rules of Selling Through Your Website
- Generate Cash Without Having to Do a Thing - Here's How
- The 10 Biggest Branding Mistakes and How to Avoid Them
- The Seven Key Considerations of Branding
- Dale Shows You How to Cash in On Your Website
- eCommerce: Have You Done Your Homework
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