‘When the economy is uncertain, marketing budgets are most likely to be cut first, which is primarily in the best interests of shareholders to spend money to make money during a downturn.’
Because they tend to think that they can’t.
Here are some superficial logic: “Anyone who stops advertising to save money is the same as someone who stops the clock to save time,” Henry Ford said. The famous claim is probably how important we are to strengthen our marketing campaigns in critical situations.
The COVID 19 pandemic never stops, and organizations that are often the most prosperous during this volatile period will take the lead in improving SEO to increase Google’s visibility. It’s an organization. Is an investment in multi-channel marketing as a way to go ahead.
Below, there are several other ways in which digital marketing can be the greatest defense during times of high economic uncertainty.
Brand Awareness and Reputation Benefits
One of the most disturbing aspects of the recession is simply the inconsistency of the world around us. This may not match both the business owner and the consumer. However, in the face of a rapidly changing economic environment, it is noteworthy that consumers appreciate the friendliness of their surrounding organizations.
Some of the world’s most trusted brands have created social media campaigns specific to the COVID-19 pandemic as a means of giving consumers a sense of normalcy around the world. The message behind this campaign isn’t necessarily about the flu, but many companies have tried the idea of working from home and engrossed in a sense of global unity.
These messages arrived with power because most consumers were relying on their cell phones to seek comfort and isolation at home. It can also turn a period of economic uncertainty into an opportunity to further develop brands, increase brand awareness, and allow organizations to get going as soon as the economy starts to recover.
New Economy Development and Preparation
For many of us, the COVID-19 pandemic has been arguably bad for business. For most of the past year, international trade is almost impossible, and personal consumption is limited by a global job shortage.
Even with layers, the chaos in 2020 seems to be particularly short-term counterproductive compared to the 2007-2009 GFC, and the global economy is currently recovering at an unprecedented rate.
In essence, why did you recover so quickly from a global industrial shutdown?
The increasing adaptability of modern business is the most comprehensive answer here, and digitization is a major player in the development of all modern industries. The growing number of businesses using the available digital resources and channels has enabled organizations around the world to adapt their business models to employ digital processes to respond to their customer bases in new and improved ways.
The development and consistent use of these new digital channels has led to reshaping industry practices around the world. As a result, industries that prioritized development during a pandemic have a lucrative start in a ‘new economy’, where businesses are demanding to be highly digitized and fit across multiple channels.
Using E-Email Marketing to Retain Customers
In times of economic uncertainty, the last thing you want is to ignore the customers and customers you serve in the past. This is just like reaching out to potential customers, it’s time to build relationships with your existing customer base and the wider community.
Believe it or not, one of the most powerful tools freely available here is actually a humble email marketing campaign. You can let your customers know you are still there in these turbulent times by sending an email tailored to customers who have subscribed to our mailing list or have recently purchased. If your message is topical and climate-friendly, paying attention to this detail is likely to generate a positive response from your customers and lead to higher conversion rates for your organization.
Because email marketing campaigns don’t usually require huge budgets, these conversions can add doubly value to your profits in a recession.
With the digitization going on in the modern business world, the importance of developing and refining an organization’s digital presence cannot be underestimated. Investing in digital marketing puts your organization in a good position to adapt not only to financial uncertainties, but also to rapid changes in the industry.
In essence, investing in digital marketing is investing in the longevity of a company.