Four Ways to Grow Your Business, Even During a Recession
Even though we’ve seen improvements in the economy over the last couple of years, many industries are still feeling the effects that the economic recession had several years earlier. So, how do you grow and expand your business, keeping it relevant and profitable, when your consumers seem to be spending less and less time in your doors?
Don’t let a recession keep you from reaching out to your customers through new marketing efforts. Sometimes, spending a little money on a customized content marketing strategy is just the thing you need to generate new leads and increase your brand recognition during a lean economy. The key is to take advantage of every opportunity to reach your target audience with the information they want and need most. When you create that connection through focused marketing messages, your consumers will know that they can trust you for the products and services they rely on every day, even during a recession.
4 Tips For Content Marketing During a Recession
Set realistic marketing goals: What do you want to accomplish or see happen over short periods of time? Consult with your marketing professionals about establishing a 3-month, 6-month, or 9-month plan with measurable goals. The “good ones” should already be incorporating this into their work for you, but if you haven’t seen a plan like this yet, you need to right away. Set attainable, yet challenging target marks to hit, and be prepared to reevaluate and tweak your efforts if you aren’t seeing the desired results.
Analyze your data: What’s changing within your consumer base? Has your demographic of consumers seen a decrease in average median income? What past efforts no longer seem to be working? Do you have any data from a previous economic recession that you could compare your current metrics to? What elements of your products, services, or business are most attractive to your consumers? These are all important questions to ask and revisit throughout a recession. Adapting your message and focus to these answers could help you better connect with your clients if their buying needs have changed.
Broaden your focus: Don’t fall into the trap of believing that “pushing your product” is the only goal of a marketing campaign. There is so much more to your business than your products or services, just like there is more to your consumers than what they spend their money on. Consider opting for a marketing campaign that emphasizes product or company awareness, consumer perception, or brand positioning. Let your target audience see the other sides to what makes your business so great. This helps to create a more personal connection that many of your clients will look for throughout their buying experiences.
Be responsible with your finances. This can be a tricky area, especially if you don’t feel confident that your web-marketing provider can create appealing content that will work within your budget. Consider your profit margins AND your customer loyalty. Watch your spending and eliminate non-essential marketing efforts that just aren’t producing results. Opt for marketing solutions that highlight what you can offer and avoid those efforts that showcase what you can’t offer. Adjusting your focus and being willing to eliminate ineffective marketing measures –even those that you’ve used for years- can be a simple way to reduce your own spending and put your marketing dollars to use where they will work best.
Do you need help adapting your online content marketing solutions for your changing budgets? If you aren’t seeing the results you’d like, and think a change is in order, contact Neon Goldfish today at 419-842-4462 today. We can sit down with you, discuss your needs, and develop a customized marketing solution that will fit your wants, needs, and budget, even during a recession.
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