The Honolulu Advertiser carried an article today on the fact that Hawaii had seen a big gain in bankruptcy filings last month.
It should be noted that this is going on all over, not just in Hawaii. Another important aspect is that many of these were personal bankruptcies.
Still, that leaves a lot of room for Hawaii businesses to be included in that number. And they were indeed present.
What can Hawaii businesses do? Some won’t be able to do much in this time of crushing upheaval. It’s not their fault, it’s the time and the conditions. Some, though, could be doing better.
It’s my belief that SEO & Search/Internet Marketing could be a way out for some.
Search engine marketing – whether that’s organic SEO, paid search (Google Ads, etc.) and/or marketing on and of the site itself – are the most cost effective marketing avenues out there. It pays off better than print and TV, hands down.
Search/internet marketing gives you the means to target your best prospects precisely. It takes time and effort, but it costs less than traditional marketing.
Done right, online marketing gives you feedback so you can adjust your efforts to sharpen your aim more and more.
Hawaii businesses must work on finding their best prospects, the ones that bring the profits in consistently. That is what will see them through this difficult time.
Search and internet marketing should be at the top of their list. If it isn’t they need to have a good reason for why it’s not there. It could save your business.