Recession is a scary word, and it (understandably) gets people — especially business owners — worried about what’s to come. As we enter a new year, there’s speculation over whether or not we’ll also enter into a recession in 2020. While there are mixed messages (for example, here and here), it’s never a bad idea to put a plan in place that will help you market your business in a recession.
While it’s nearly impossible to fully recession-proof your marketing, it is possible to develop a strategy that helps you stay nimble no matter what’s happening in the economy.
But, before you put that strategy together, which we detail here, it’s important to answer another question — one that many business owners have: Can digital marketing actually help your business grow, even during a recession?
The Short Answer: Digital Marketing is Important — Even During a Recession
There are few guarantees in life, so we can’t guarantee that digital marketing will grow your business no matter what. Why? Because there are a lot of factors that play into effective digital marketing. For example, your digital marketing could be driving you amazing leads, but if you don’t have the right team in place to follow up with those leads, you’re not going to turn them into customers. Or, you could have a beautiful website that’s perfectly optimized to capture new customers, but if no one is seeing that website, you’re not going to have new customers to capture.
So, the better question becomes: can effective digital marketing with the right plan in place help you grow your business: The answer to that should be yes.
Let’s explore why.
Digital Marketing Gets You in Front of New Consumers
One of the top goals for digital marketing includes getting your business in front of new customers. Digital marketing is a natural way to do this because there are plenty of options that allow you to target consumers who are your likely customers in the place they’re spending a lot of time: Online.
Think about your online journey — you’re seeing ads for new businesses all the time: In your favorite apps, on social media sites, in your email inbox, and pretty much any other place you can think of. Have you ever clicked on one of those ads? Have you worked with one of the businesses whose ads you’ve seen?
And, even if a business isn’t running ads, you’re still seeing information about their business: Organically on social media platforms, in search results on your favorite search engine, and more.
Digital marketing helps your business get in all those places with a multi-channel approach that works to influence new consumers to become your customers.
Related: Want to know how your digital marketing stacks up to the competition? Contact us for a free health check.
Digital Marketing Gives You a Solid Online Foundation
So, we know that people are looking for new businesses online, and we know that digital marketing helps you find them. And while a lot of digital marketing is pay-to-play, meaning you have to have a budget to get seen — some digital marketing tactics are more foundational, meaning they set you up for success long-term.
These are tactics like search engine optimization, or SEO, organic social media marketing, listings management, and website management.
When you employ these web presence-building tactics, you’re creating a solid foundation for your business to get seen online. And, a lot of these tactics are complementary and build on each other to help you be more visible online.
Let’s take SEO, for example. An effective SEO strategy includes an optimized website, accurate local listings, and other offsite signals, like social media sites, to help you show up in search results for relevant queries.
By appearing in organic search results, you’re increasing your chances of getting found by new customers and capturing their information on your website.
But, remember: When you start these digital marketing tactics, stopping them will likely result in a decrease in results. Web presence-building activities are like a garden — they need tending to keep growing.
Digital Marketing is Great for Any Budget
One of the concerns business owners have when it comes to digital marketing is their budget. But, the good news is that digital marketing can work with any budget. It all comes down to identifying your business goals and aligning those with the digital marketing tactics that will best help you reach those goals.
For example, if one of your business goals is to get more leads, you might focus your budget on search marketing and targeted email marketing. If your goal is to build your brand in the community, you might run a branded content campaign and focus on your social media marketing strategy.
Digital marketing is flexible, which is one of the great things about it. But, that can also make it confusing to know what strategy works best for your business. That’s where working with a marketing partner comes in. They can partner with you to understand your goals and set you up with a strategy that incorporates the right digital marketing tactics to help your business grow.
Digital Marketing with a Marketing Partner
You might be thinking, “Why would I spend money on working with a partner when I have a limited budget?”
That’s a great question. I like to think of it like this: When I have a leak in my house, I don’t try to fix it myself because I’ll probably end up breaking things and making it a more expensive mess. I pay an expert to do it for me because they know what they’re doing, they’ll do it right the first time (probably!), and it will be done.
It’s the same thing with a marketing partner. They’re experts, they work with other businesses like yours and know what works, and they take care of it for you. And, a marketing partner like LOCALiQ has access to experts and technology that can help optimize your digital marketing campaigns so you have a better chance at success. And at the end of the day, that’s what you want for your marketing in any economic climate.
Digital marketing is an asset for any business looking to grow their business. And by investing in digital marketing early, you can set your business up for success and growth in the event of an economic downturn.
We’d love to help you get prepared — contact us today to speak with one of our marketing experts.