Some companies are taking the advantage of this down time to build up their cash reserves to acquire other comapanies. They could have invested the funds during the good times into aggressively expanding their business and probably straddling their companies in debt. Even companies that didn't build up large cash reserves can employ some of the same strategies to expand or enter into new markets. The key is to stay focused on the long-term value and results. Here are a few tactics to consider

1. Buy Domain Names with Rankings: Purchase domain names that rank well for the e-commerce, review, fan, discussion forum, and informational sites, from people stopping business, or publishers who are reducing the size of their domain portfolio. A PPC site that's been around since 2002 and ranks in the top 20 benefit your company by simply substituting the current ads with those for your company. Use it for branding. You can keep it as a backup domain in case you ever lose your top rankings.
2. Acquire Key People: It's a perfect time to recruit people with great industry contacts and insider information to help your business. Recruit key marketing, public relations, or sales people into your company from competitors. These could be people who are looking for a new job, have been recently laid off, or work for a company that's having serious financial problems.This is ideal for newer companies in a field looking to recruit key clients away from the established companies.
3. Better Advertising Rates: The advertising sites have seen a significant decline in income in the past year. Take advantage of this to lower advertising rates. Newspapers and magazines with online editions are also slashing their rates. Plus, many newspapers are shutting their doors becoming web only. Publications that were previously out of your budget are now within reach. Negotiate for "online only" rates to get even better rates.