For Best Results, Get Guidance from a Digital Marketing Agency Near You
Most experts are on the same page: the U.S. economy is going into recession mode. But don’t panic!
These downturns happen seemingly every few years and gradually come to an end once the economy is back on the upswing.
Despite all that, it can still be business-as-usual for your brand if you take the right actions – and avoid certain ones – with your marketing strategy. Keep reading to learn what you should and shouldn’t do with your marketing approach during an economic recession and to find out how the best digital marketing agency in Kansas City can help.
Do: Analyze What You’re Getting for Your Money
Economic uncertainty prompts brands to cut ad spend, so marketers expect to see a decline in global ad growth this year – clocking in at just 9.2 percent. But instead of slashing budgets willy-nilly, business leaders can do right by their brands by really examining where the money goes and the value they get for every penny they’re spending.
You just might find that certain digital ad types, like retargeting, lets you reach the right audience at the right time: when they’re already considering purchasing your product or service. Digital retargeting ads are some of the most affordable – and you can’t afford to not have them in your recession marketing arsenal.
You can tell your retargeting is getting a positive return on investment by examining metrics like lead conversions, click-through rates, and page visits.
If your ad spend isn’t performing well, absolutely cut the budget. Rather than guess which tactics to pull back in, review your digital marketing through Google Analytics. This tool provides insight about where your web traffic comes from and which sources are producing the most engagement with your website. Keep in mind, however, that branding tactics and social media strategies feed the direct and organic categories. Working with a digital marketing agency focused on metrics and analytics can guide you through this process.
Don’t: Stop Working on Your Content Marketing Strategy
Content marketing consists of all the pieces of informative, entertaining, engaging elements you create, including written blogs, brand videos, and social media posts. Considering your marketing budget as a whole, producing these pieces is downright affordable, and the effect they have on your web presence and brand awareness is almost priceless.
Despite a recession, continuing to build your content marketing strategy will ensure you’re never out of sight and always at the top of the search engine results pages (SERPs), even if your customers aren’t shopping right now. When it’s time to shop again, they’ll remember your business first.
We say content marketing is like Monopoly. It’s the longest game to play, but the winner reaps serious rewards (and the envy of their competition).
Don’t: Give Up Market Share
Business owners’ gut reaction tends to be to stop advertising during economic downturns. This means there’s a good chance that’s the same tactic your competitors are taking. And if you do it, too, you’re missing out on an opportunity to rapidly gain market share. Reduced ad demand during a recession quickly is offset by your ability to reach new customers.
Brands that opt to increase their marketing efforts as competitors decrease theirs could see incredible gains in only a few months, and with some serious longevity. Why not capture the market share that your competitors leave behind?
Do: Market Across Channels
To succeed in a dynamic economic climate, businesses must pursue omnichannel marketing campaigns. This allows you to connect with your potential customers across all the media they consume. Research shows that the average consumer needs to view an ad at least seven times before they absorb the message and take action, so recycling your creative across channels saves you money on production and gives you a better return on your investment.
iFocus Marketing zealously supports omnichannel campaigns for this very reason. Our approach to holistic digital marketing – and our unique view of the traditional marketing funnel as a relay race rather than a trickle-down process – means all our clients receive a custom digital marketing strategy that incorporates multiple solutions. It’s necessary in any economic climate, not just in a recession.
Don’t: Let Your Tactics Stagnate
Customers respond differently during a recession than they do when the economy is soaring. If you offer your product or service to them the same way in both situations, you may not generate the same number of qualified leads and garner sales like you’d expect.
If your digital marketing strategy is stale and unresponsive to the changing demands of your audience, then you aren’t putting it to work for you. One of the biggest benefits of digital channels is the opportunity to continually modify your approach based on real-time data. If you aren’t taking advantage of it, then you’re squandering your resources in these restrictive economic times.
It’s Free to Find Out How to Maximize Your Budget with Our Ad Agency in Kansas City
If the drop in business during the pandemic tripped you up, and you want to keep running full-steam ahead as the U.S. faces a recession, don’t delay in taking these important steps.
- Request a discovery call, audit, and competitive analysis.
- Listen carefully as our experts walk you through the current state of your digital marketing and how your competitors are besting you. We’ll present solutions that’ll get you back on top, even with a limited budget.
- Sit back and let our digital marketing agency do what we do with the solutions and tactics you chose from our recommendations.
Defy the recession. Make marketing gains. Partner with iFocus. Contact us to learn how.
Jenifer Calandra is an award-winning digital copywriter and copy team lead at iFocus Marketing with 12 years of marketing experience. She curates copy from conception to completion, capturing client voices, and building their authority in their industry. Her knack for storytelling is deeply rooted in journalism, and you’ll find her work published in various regional newspapers and magazines. At home, dogs and a never-ending cascade of home-improvement projects rule her life.