Marketing with impact during a recession
As the business landscape shifts and consumer priorities change, it becomes crucial to adapt your approach to effectively connect with your audience and maintain a strong brand presence.
In this blog, we’ll explore various strategies that can help you market with impact during a recession and position your business for success, both now and in the future.
Understanding your customers
Before throwing all your resources at the wall, think about how you might rejig your strategy and messaging to ensure it’s both sensitive to the current situation and relevant to your audience.
What are they struggling with, or concerned about? What’s happening in their lives right now? Do some digging and aim to create messaging that shows you understand – and more importantly, that you care.
But beware – make sure you’re truly authentic about it; consumers are smart creatures and will spot a brand taking advantage of the situation from a mile away.
Present a solution with paid search campaigns
Paid search can be highly effective during an economic downturn, when people are actively searching for products and services that provide value for money. By strategically targeting relevant keywords and crafting compelling ad copy, you can position your business as exactly the solution they’re looking for.
Extend your reach with social media advertising
Social media platforms continue to be a powerful marketing tool, even during a recession. With people spending more time online, leveraging social media ads can help you reach a wider audience and engage with more potential customers.
Platforms like Facebook, Instagram, TikTok & LinkedIn offer sophisticated targeting options, allowing you to connect with your ideal customers with the right message, at the right time.
Connect and engage with organic social media content
While paid advertising is a must for most, never overlook the power of organic!
Think about creating compelling and shareable content that aligns with your brand values and resonates with your target audience. Engage in meaningful conversations, respond to comments, and actively listen to your audience’s feedback.
Another great approach is to look for ways to entertain your audience. The current economic climate is stressful for so many, so finding ways to make people laugh might be just what the doctor ordered.
And as a bonus, continuing to engage your audience will keep your brand top of mind for when they are ready to purchase again (if they’re not already).
Give your brand some love
Maintaining a strong brand presence is critical at all times – not just during times of crisis.
People are more likely to stick with brands they know and trust, especially when times are tough, so make sure you’re nurturing your brand and ensuring you remain relevant during the changing landscape.
Focus on showcasing your authentic brand values, personality, and commitment to customer satisfaction to help stand out from the competition.
Be loyal to your loyal customers
Your existing customers are a valuable asset. Period.
Instead of focusing on growing your customer base, prioritise nurturing and retaining your loyal customers. Offer exclusive deals, personalised discounts, or loyalty programs to show your appreciation and keep them coming back for more.
Leverage personalised emails
Even now, email marketing remains one of the most cost-effective and highly targeted marketing tools in your arsenal. Use your email list to communicate directly with your audience, offering them valuable insights, special promotions, or helpful resources.
Personalise your email content by using audience segmentation to make each recipient feel seen and heard.
Work on your SEO
In uncertain times, consumers are more likely to research their purchase decisions thoroughly so mastering your SEO is key to success in the fight for Google’s coveted top spot.
Invest time and effort in optimising your website’s structure, metadata, and content to increase organic visibility and attract more qualified traffic.
While economic downturns can be challenging for any business, they also present very real opportunities for those willing to invest in marketing. By maintaining or growing your marketing spend, you can navigate economic uncertainty with confidence and even come out stronger on the other side.
Remember, the power of marketing can make all the difference between surviving and thriving in challenging times.