During the months of April and May, I conducted a blog hopping and podcast tour to promote the recently concluded Online International Virtual Assistants Convention (OIVAC).
I was asked several thought-provoking questions during the tour and I’ve chosen to share a few here on the Smart Business Marketing Blog.
Today’s question was asked by Tawnya Sutherland, of VANetworking.com
Is the downturn in the economy affecting the VA industry?
Yes! The downturn has had positive and negative effects. I’m sure VAs without a written business plan and concise marketing strategy are experiencing difficulty, because they haven’t “planned” for situations such as client loss or slowdown.
Also, many entrepreneurs are “price shopping” resulting in “cheap” being the major determining factor when choosing a virtual assistant, instead of “value-add” which takes into consideration an individual’s knowledge, skills, experience, abilities and potential to contribute to the continued growth of the business.
In addition, many VAs “discount” services, believing this will attract and retain customers. However, they fail to realize that by under pricing services they are actually digging a deeper hole for themselves, because while volume may initially increase, when the economy takes an upswing, it will be very difficult to raise rates proportionately for low paying clients.
Also, discounting rates may impact the VAs income potential, lifestyle and eventually health because they may be required to work longer hours or assume a more difficult workload to earn the same income as prior to the downswing.
Foresight and Flexibility
On the other hand, VAs with foresight, flexibility, a targeted customer base, sensible marketing plan, and appreciable skills, will continue, at a minimum, to sustain their business and in many instances increase profits.
Why and How?
Savvy business owners are looking for ways to reduce costs, develop alternative resources, and continue providing valuable-add services to their clients, and VAs (if positioned properly) can fulfill these demands.
If a VA’s income is decreasing because of the economic downturn, I recommend the following:
*Evaluate the situation, conduct research and identify services clients are seeking.
*Confer with current clients, to identify new responsibilities you can assume.
*Become efficient (even an expert) in sought-after skills.
*Develop a marketing strategy for your new target audience, to pull those customers into your business funnel.
*Become a valuable asset to the client.
The state of the economy won’t matter if the VA possess marketable skills, know their ideal clients’ NEEDS and wants, and positions themselves as THE value-add; and a viable contributing member of the team.
What do you think?
Share your thoughts on how the economic downturn is affecting your business and steps you have taken to sustain your income.
Pretty soon, the Online International Virtual Assistants Convention (OIVAC) will kick-off. This year, 40 presenters are set to speak about technology, marketing, public relations, working with coaches, real estate, speakers, article promotions, and so much more useful information to support a Virtual Assistant’s practice.
We will also conduct another blog hopping and podcast tour and hold a brand new series of activities(Introducing the Virtual Assistant Industry) to reach more industries and individuals, and educate them about the VA industry.
It’s going to be fun, and I can’t wait.
I’ll keep you posted and I hope to see you May 15-17, 2008 at OIVAC. ???? ?????? ???????? ?????
What a whirlwind trip around the globe!
The Podcast & Blog Hopping VA Tour ended Tuesday, May 15th, and I miss it. It was fun visiting VA and other entrepreneurs and chat about the virtual assisting industry. I plan on brainstorming to design another campaign, even if its only stopping by a VA site once a week or so, to chat about the industry.
I’d be interested in hearing others’ ideas on continuing the journey — maybe we can form a collaborative relationship and spread the word about the industry more.
I’m game, any takers?
What a whirlwind trip around the globe!
The Podcast & Blog Hopping VA Tour ended Tuesday, May 15th, and I miss it. It was fun visiting VA and other entrepreneurs and chat about the virtual assisting industry. I plan on brainstorming to design another campaign, even if its only stopping by a VA site once a week or so, to chat about the industry.
I’d be interested in hearing others’ ideas on continuing the journey — maybe we can form a collaborative relationship and spread the word about the industry more.
I’m game, are you?
It’s hard to believe I’ve traveled around the globe and back to my own site, on Mothers Day. So first, to all mothers located around the world, Happy Mothers Day!
Mothers Day is one of two days that I am not normally found at the computer, but I wanted this stop to land here today, so I could congratulate the industry (mothers) for their contributions to the growth of an industry that 15 years ago wasn’t even a thought. I’d like to recognize virtual assistant trailblazers who walked the walk they talked, (many of whom still do), and invite more VAs to step up and become more active in your industry.
Just as mothers nurture their children and guide them through life’s course, many VAs have assumed the same role within the virtual assisting industry, guiding it through its growth and diverse paths.
So, join me in congratulating these “mothers” who have opened doors on behalf of the industry during these last 15 years. Even though I am not naming individuals, for fear of omitting someone, I salute you!
If readers would like to offer a few words of acknowledgement and congratulations to a VA you would like to recognize, feel free to add your comments here.
Now, on to today’s scrambled puzzle phrase clue: omncei.
Okay, yesterday I visited Patty Dost of Time Is Of The Es~Cents and tomorrow I’m back to the OIVAC convention blog. Afterwards, you’ve one last opportunity to jump on the Podcast & Blog Hopping Tour bandwagon. All answers to mystery puzzle phrase must be submited to info@oivac.com by 8 p.m. EDT (New York) Wednesday, May 16.
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