During the crisis, most companies cease to be active. They prefer to calmly wait out until difficult times pass and not take risks. First of all, they neglect marketing and advertising. And as a result, they suffer from this themselves.
Research shows that the winners are those companies that keep the same level or even increase their advertising costs. This way they will increase their sales and market share, which will stay with them after the economic downturn.
So how to act with digital marketing during a period of crisis? Do not wait. Now is the perfect time to develop a plan for where to invest and find new ways to attract customers. Remember, life doesn’t stop during a crisis, people continue to buy goods and do business.
Now think of where they will buy these goods? Your company or your competitors? What if your competitors reduce their budgets for marketing and advertising while you keep your campaigns on track. Who will benefit from this situation? Of course, you. At this time you can even bring new products to the market.
While other players are looking forward to better times, all the public attention will be directed precisely to your new product. Active advertising during a crisis will give you brand stability in the eyes of your consumers.
This way you will not let your customers down. According to ComboApp marketing agency, another good side is that there is a chance that with a massive decline in advertising budgets, the cost of advertising will also fall. So if you want to survive a recession, you need to follow some important steps.
Panic will not help you during the crisis for sure. Only cold calculation and complex analysis. Unsystematic actions can lead to loss of customers and income. All decisions must be taken carefully, considering all the risks. Good preparation and a well-thought strategy will help your brand survive any economic downturn.
1. The Best Way To Get Through A Crisis Is To Track And Analyze Your Actions And Metrics
Start with your marketing channels and think about what channels bring the most profit at the lowest cost and which channels with low performance can you refuse for now? Research your target audience and customer base.
Now more than ever it is important to know your customers: What channels do your regular customers live in? How do they behave during a crisis? What are they ready to buy now and what purchases they will postpone until better times?
For instance, if your digital product is related to distance learning, such as educational software, language learning apps, digital solutions for teachers, you can even benefit from this crisis as most of your target audience will stay at home and look for new options for learning. This is a good time to take advantage of providing distance learning opportunities to them.
2. Don’t Cut Your Marketing Budget If You Don’t Plan On Leaving The Market
Are you going to continue your business after the crisis? Then it is necessary to take measures not to kill it in these difficult times. The first thing a hand reaches is to save on advertising and marketing. Yes, it’s a quick way to cut costs. But this is an equally quick way to cut your sales and profits.
Maintaining a healthy level of marketing investment during a recession allows strong businesses to capture market share from timid competitors. And an increase in market share leads to an increase in sales and profits. Just reallocate your budget to the most efficient channels.
3. Focus On Existing Customers
Research has shown that during a recession, shoppers prefer to buy brands they already trust. Unfamiliar brands are feared during these periods. Now your customers are the most valuable asset. If they have bought from you before, they will buy during this period.
They can provide you with most of your sales. Put all your efforts during the crisis on digital marketing. It’s not expensive. When properly managed, SEO, SEM, social media, and email marketing are the most cost-effective ways to find new customers.
4. Seo And Email Are Marketing Channels That Require Little Investment But Can Deliver Good Results When Used Correctly
Start your marketing plan in times of crisis with these 2 points. Then connect other channels. Digital marketing allows you to make changes to your campaign in real-time. If you’re not sure which approach will give you the best results, you can run multiple options. After analyzing the results over several days, you can redirect your budget to the most effective campaign. If you don’t know which marketing channel is generating the most of your income, then you are performing poorly.
All data is at your fingertips. Take the time to set up human-readable information applications so you can make meaningful decisions. Using digital marketing, you can easily answer the questions: How do your customers interact with a certain type of content? How many people?
If you are interested in even more app-related articles and information from us here at Bit Rebels, then we have a lot to choose from.