So it’s been a rough couple of weeks for the US economy. Well, heck, a rough quarter, a rough year. I was amazed to hear about the panic caused by a 6 year old bankruptcy story for United Airlines that resurfaced on the internet a few weeks ago and caused a 76% slide in share value before it was discovered to be unfounded and old news. Shares rebounded once the news was cleared up and savvy investors willing to take a chance could have made out handsomely.

Back in May we had the Bear Sterns bankruptcy sell-off to JP Morgan. This past week it broke that Lehman Brothers was filing for bankruptcy which caused a miserable few days for financial markets. In a move that many feel should have come sooner, the government stepped up and offered a bailout plan for Wall Street with the hefty figure of 700 billion. Yes, billion with a “b”.

In a tough economic time, dollars companies spend on advertising are sure to go down. Where, in times like this, where is it best to put ones money? In your website!

We’re in the midst of a Web 2.0 shift, one in which online communities and connections with users are being formed as opposed to old static sites and pushing content one-way onto the users. Social networks are growing and social media opportunities offer low-cost (and often free) ways to interact with your user-base. Companies now utilize fan pages on Facebook as well as creating Facebook Apps that can integrate into the site itself.

And let’s not forget the mobile web. With the Apple upgrading the iPhone’s data speeds to 3G and opening up the Apps store, there’s a been a flood of mobile web application development. Before the end of the year Google’s Android cellphone operating system will debut and there will be yet another major reason to focus energies on mobile-based websites.

So instead of shelling money out for advertising, focus on your site. Create rich content. Explore social media opportunities. Work on making a iPhone/mobile optimized version of your site. While the economy may be going through some rough times, web based business presence continues to grow and you can flourish if you focus on it.