Recession, economic downturn, failure partnerships, or industry shakeout are all events that can put your online business to the test. Surviving in hard times requires strength, determination and some cool ideas. In online business, keeping your clients is the single most important thing to do. In order to keep your clients, stick to your business you should employ some clever strategies to get ahead of this rough time. Here are five online businesses and what they are doing in these rough times to keep their clients happy.
Recession will largely impact on the online banking services. The first thing, people will spend less on spending and more on saving. Banking services should cut back on interest rates to encourage borrowing and investing in order to stimulate the economy.
Recently RBI has issued a moratorium period of three months for all EMIs to lessen the burden on borrowers. This is a good move and should be followed by banks to keep faith in banks.
Ecommerce is another sector where business largely depends on online transactions. It is obvious that people will spend less on shopping in these tough times, in order to encourage buyers, companies should give free stuff to their customers to keep them happy. So that they will spend on shopping anyway.
Companies like Amazon, Flipkart can lower their commissions or arrange a BIG sale with huge discounts, or they can even give free stuff in exchange to leads to encourage normal customers to shop on their websites. This way then can easily survive in this rough time.
Online gaming is one of the best places to play online casino and gambling. Technology has helped a lot when it comes to the growth of this industry. You never need to pack your items and move on weekend casino excursion. There are a lot of websites available to allow you to play at your home we even find a site that present reviews of online casino Malaysia.
The best part about online gaming is a participant will be provided with a trial account to clinic on at no additional price at no additional cost. So that you can expertise before you actually put some real money. Especially, in these rough times or recession you call it, online casinos should give free tokens for users to encourage them to play.
Online software tools such as Ahrefs, SEMrush, Kwfinder, and many more are mostly run their business based on their subscribers and paid clients. In this recession, most of the clients may not renew their subscription due to financial problems. But some of the online software businesses are providing a one-month free extension for their clients free of cost. This is a good move, especially in this rough time. Ahrefs is perfect example of this. I got my free renewal just a few days back. Thanks to Ahrefs once again.
App development is yet another best internet business to earn money from developing apps. In rough times, app developers will be getting less projects when compared to other times. What they should do is lower their fees and encourage their clients to keep the projects going and keep them.
Later, when everything becomes normal, they will show their gratitude and will come back again. This way you can keep your clients with you.
Surviving rough times whether personal or business such as a recession requires a healthy outlook as well as a good strategy. Remember bad times don’t last forever. I hope this helps you think of what to do in rough times for your business. Now over to you. What do you think is the best way to keep your clients happy? Did I miss anything? Either way, let me know your feedback in the comment section below.