When a recession is rumored, small businesses or even large corporations may start to panic and wonder if their current efforts will be worth it. Recessions mean economic decline where trade and industrial activity slow, unemployment rates increase and there is less consumer spending. A significant recession impacts daily life, which in turn can affect your business.
While some things will suffer from the downturn of the economy, history has shown that businesses that plan can actually see growth during these periods. Below are some reasons why keeping up with your marketing in a recession is worth the investment.
History Repeats Itself
Like with many other aspects of modern life, history starts to repeat itself, and marking is no exception. History has shown that those companies that invest in marketing now will be able to see growth through the recession. Companies that continue to invest in marketing in a recession increased their visibility by 3.5 times more than those that cut their budgets back.
While we can never predict just how another recession will play out, we can learn lessons from past experiences. In 2008, online advertising revenue grew steadily by about 20%. Many businesses already spend less than 50% on brand building, so cutting back now doesn’t truly make sense for keeping your business on the radar of customers.
Think About The Client
Not all people will be impacted by a recession in the same way. Some consumers will continue to buy the same products or similar services even if prices go up. Some say that you can split customers into 4 categories.
1- Those who will stop spending and change their habits immediately
2- Customers who will suffer but at less likely to cut back on things
3- Comfortable and well-off, will change a small number of behaviors
4- Have disposable income and habits will stay relatively the same
Keeping these people in mind while marketing in a recession will help you to determine what category your customers fit into. If your company can also offer a type of solution for customers during a trying time, your business can grow. Providing a solution doesn’t always have to be providing a product, it can be tips on how to save money, how to handle inflation or meditation tips. Whatever fits your niche and can provide information to your customers will help you stay on their radar.
Since the COVID-19 pandemic, more people in your community are searching for local businesses online. Having a presence online helps people around you to support companies that are in their community and shop online. Online retail will continue to grow over the next few years, so SEO helps your ads and products to populate first when customers are shopping.
Use Humor And Emotion
Knowing your customers can help you design marketing for what your customers will connect with. SEO is a great way to make a connection with new customers that can lead to more. When people align with a company’s mission and products they are more likely to support it.
If you can demonstrate a way to help and show sympathy, individuals can see that you have generosity for your customers. One way to improve marketing in a recession is to share relatable posts about what is happening in the world, and share something lighthearted that can get our minds off of what is in the news. In the world of memes and trending videos, this is a great time to share something with humor.
Focus On Unimpacted Industries
Times of economic crisis don’t affect all markets and trade equally. Businesses can use this to their advantage by looking toward industries that stay strong during financial storms and stay invested in marketing in a recession. Healthcare and government seem to be obstinate and almost recession-free, so look for tactics and strategies to promote yourself from their platforms.
The Time To Act Is Now
If you are dragging your feet in the SEO world, the time to act is now. Developing SEO should be done before a recession, not in the middle. Reaching new customers and setting up long-term relationships will help you keep growing once the economy comes back up.
Having good SEO helps you gain organic traffic from Google, which can help you cut spending on other areas of marketing during a recession. Keep your brand in mind, but working on connection and setting up your business for the long term will help you to thrive through a recession.
SEO With Performance Driven Marketing
Our team works to optimize all of your content for SEO and works to choose keywords that relate to your business. The methods of search engine optimization continue to change which is why we continue to adapt as well. With our team, your business will stay on top of search results even in a recession. Some search engine optimization we provide includes:
- On-page and off-page optimization
- Local SEO
- Mobile SEO
- SEO Copywriting
- Link Building
- Google Maps Optimization
- WordPress SEO
- And more!
We help our clients to see real results and help to improve their businesses. Let us skyrocket your business and achieve great mobile search rankings by investing in your marketing in a recession. Your online presence can help customers to see who you really are. PDM wants to help put your brand on everyone’s radar. Fill out our free consultation form to get started today!