We are operating in what has been called the ‘New Economy’. There are two critical components to this New Economy that have a direct impact on small businesses:
1.Business is moving to the Internet at a pace faster than ever imagined. Companies are utilizing websites and on-line social networking tools to build markets, prospect for new customers, and ultimately drive revenue and profit. Your customers are now using the web to find products and services – making advertising and new business leads several times more expensive through traditional media than through on-line channels.
2.Consumers are reducing spending and in many cases markets are contracting or static. In the New Economy, business is gained by changing buying behaviors of consumers who are currently buying your product in your market but from other sources (your competitors).
In the New Economy, viable businesses have websites. If you business does not have a website that is fully integrated with your sales processes, you are missing opportunities and spending too much money doing marketing.
