TABLE OF CONTENTS
This year has kept us all on our toes personally and financially, and will no doubt continue as we see out 2020.
Here I share four important statistics that illustrate why you should market your business during a recession and why marketing during COVID-19 is important.
If you’re new to my blog and tutorials, remember to hit the subscribe button over on my YouTube Channel for a new tutorial every single week on content marketing tips, techniques, and tools that are working today.
Let’s get into it.
Why You Should Market Your Business in a Recession: COVID-19 Marketing
The COVID-19 pandemic pushed economies into a Great Lockdown, which helped contain the virus and save lives, but also triggered the worst recession since the Great Depression.
The International Monetary Fund is now projecting a deeper recession in 2020 and a slower recovery in 2021.
These projections imply a cumulative loss to the global economy over two years (2020-2021) of over $12 trillion dollars from this crisis.
Opportunities in marketing
There’s a saying:
“It’s not what happens to you, but how you react to it that matters” – Epictetus.
What businesses can control is how they are reacting to this crisis, and what we do know is marketing is more important than ever during this time. Why?
Research shows that recessions do not equate to a lower marketing return on investment (ROI), diminishing returns, or reduced impact of media and digital marketing platforms.
It’s quite the opposite.
Growing your brand awareness through a well-developed business content marketing strategy should be high on your marketing hit list.
Also remember which digital marketing platforms you use to engage your target audience and deliver your message, is as important as ever during these tough times.
Watch the video – Why You Should Market Your Business in a Recession
If you are continuing here on the blog, let’s get started.
4 statistics: Why you should market your business during a recession
1. Proven ROI improvements
Analytic Partners report recessions do not mean lower ROIs. During the last recession, 54% of brands saw an improvement in marketing ROI.
2. Returns are not diminished
Recessions do not mean diminishing returns on marketing investment. Of the brands that increased marketing investment during the last recession, 60% did so with improved marketing ROIs.
3. Brand growth opportunity
It’s also reported that brands that invested in growing brand awareness and producing high-quality content marketing during a recession saw a 52% growth over a two-year period.
4. Reduced marketing equals reduced sales
Removing your marketing and media investment during a recession guarantees an 18% loss in sales during that period.
Paid vs Organic Marketing
In terms of your marketing investment, there’s no time like the present to be closely evaluating your paid and organic marketing, if you haven’t already.
Both types of marketing require an investment of time, money, and resources.
With marketing budgets being squeezed, most businesses are reviewing their paid advertising, while some brands have almost ground their investment to a halt.
As I mentioned earlier, the brands that continue to actively market in their niche and grow their brand awareness will come out stronger on the other side of this.
Investment in paid advertising yields quicker results with ad clicks, website click-throughs, phone calls, and lead generation forms showing the effectiveness of your campaigns at one level.
However, as we know how many of those interactions turn into actual sales is a whole other story!
The solution to marketing in a recession
Creating organic marketing campaigns through producing high-quality content marketing to push out on all your digital platforms is also an investment in time and resources, however, it’s also a powerful tool to engage your target audience.
Many businesses are doubling down on their content marketing NOW to increase their organic footing, to come out the other side of this crisis stronger.
With content marketing, you’re playing the long game.
Produce high-quality content NOW, reap the rewards in six to twelve months’ time, and beyond.
Consider how your business can capitalize on this opportunity, by creating more high-quality content.
It could be one of the best moves your brand makes in these last months of 2020.
You can download my Vital Marketing Tools for 2021 Guide below, it’s free and lists helpful no-cost and low-cost tools for your business.
To download the Why You Should Market Your Business in a Recession: Marketing during COVID-19 worksheet click here, it’s free and there’s no need to sign up.
As always, thank you so much for reading and for subscribing to my YouTube Channel and if you haven’t yet, you can check it out here. Thank you too to those who have already subscribed, I feel the love.
I’ll talk to you soon. I’m Simone. Bye for now!
If you’re looking to revamp your content or require regular SEO content for your blog reach out to Simone and the EWA team. Let’s get your brand.