Let’s be honest. We are heading into a full on recession. This will impact businesses across the board. Small and medium businesses often do the opposite of what should happen when times get tough. Marketing is usually the first budget to get cut when, in reality, marketing should be ramped up when things get tough because it is the only way to pull your business out of the red. When the stock market crashes, investors say money is on sale. Ramping up marketing during a recession is much the same way. In a recession, it’s important to focus on marketing strategies that will keep your business afloat. This is an opportunity to get ahead of your competition permanently. There are 3 types of marketing you can’t afford to skip in a recession.
Digital Marketing
If you’re looking to improve your Digital Marketing through your website’s search engine optimization (SEO), social media marketing (SMM) or pay-per-click (PPC) advertising, it’s important to have a results-driven strategy in place. When you are getting a solid ROI, this one type of marketing can keep you afloat during tough times.
Search Engine Optimization
SEO is one of those things where if you stop actively working on it, your results will plummet. Through SEO, you can improve your website’s ranking on search engines, which will result in more traffic to your site. Additionally, SEO can help you target specific keywords and phrases that are relevant to your business.
Social Media Marketing
Social media marketing is a great way to connect with potential customers and create a community around your business. By sharing valuable content, interacting with customers and monitoring your social media analytics, you can maximize the impact of your social media marketing campaign.
Pay-Per-Click Advertising
Pay-per-click (PPC) advertising is a form of online advertising where advertisers pay a fee each time one of their ads is clicked. PPC campaigns should be monitored and tweaked regularly to ensure that they are performing as well as possible. In order to get the most out of your PPC campaign, it’s important to use quality tracking and optimization tools.
Public Relations
Public relations (PR) is the process of managing communication between an organization and its publics. PR is a strategic communication tool that can be used to build relationships with key audiences, manage crises, and promote an organization or individual.
The goal of PR is to create positive perceptions and build goodwill for an organization. PR can be used to achieve a variety of objectives, including increasing awareness, driving sales, protecting and enhancing an image, and building customer loyalty.
PR can be an effective marketing tool when it is used strategically. Results from a study by the Public Relations Society of America (PRSA) found that PR contributes to business results by generating media coverage, which leads to increased traffic to company websites and increased sales. In addition, the study found that PR has a positive impact on stock prices and helps attract top talent to organizations.
Word-Of-Mouth
Word of mouth marketing is a form of marketing that relies on customer referrals. In other words, it’s a type of marketing that relies on people talking about your product or service to their friends and family. There are a few different ways to go about doing this, but one of the most popular methods is through online reviews.
Online reviews are a great way to generate word of mouth marketing because they allow potential customers to see what others have had to say about your product or service. Not only does this help you attract new customers, but it also helps you build trust with them. And, as we all know, trust is key when it comes to making sales.
Another great way to generate word of mouth marketing is through referral incentive programs. A referral incentive program is a program that rewards customers for referring their friends and family members to your business.
Take Advantage of the Recession Through Results-Driven Marketing
In conclusion, small and medium businesses need to be proactive when it comes to recession planning. This means cutting costs, streamlining operations, and most importantly, being creative and flexible. There are opportunities to be found in tough times, but businesses need to be willing to take a risk and think outside the box. The future of small and medium businesses depends on it. If this article resonates with you and you see the potential, be sure to contact us today for a free consultation about how to maximize your marketing strategy!
