The Government won’t, Wall Street won’t, it will, as always, be the American Entrepreneur that will bring US out of this economic downturn and into recovery and prosperity. Many of the household name companies of today were started during recessions or the great depression. Many people made fortunes during the great depression.
While painful, economic downturns forces people and companies to be more creative to have a chance to survive the times, this increase in creativity would also explain in part the number of start up companies birthed in tough economic times.
So often when talking with business owners about internet marketing many will react with I’m been in business 30 years (or so) without that and I ain’t about to start now, my business is all by word of mouth. ( alright it was just an idea ok , and I hope he’s lookin forward to retirement )
So I was happy to read recently a survey that Constant Contact conducted that more small business were willing to use social media marketing to engage with their customers up to 81% from 73% in the spring of 2011. Of those using social media marketing, 96% of the respondents reported, Facebook being their tool of choice.
This I feel is extremely good news as consumers have adopted social media in mass, there are over 800 Million Facebook users now, Americans spend more time on Facebook than any other website in the country. They are posting to their friends about products and or services you provide that they intend to purchase now! That is where your customers are, are you there?
Not only do I believe there are companies that will start up and prosper in these times as a result of using social media marketing, but I believe many companies will watch competitors unwilling to change go out of business while those business who adopt social media marketing ( as the word of mouth marketing of this century ) will exit the economic downturn dominating their market.