A lot of business owners are worried about a coming recession. Will your business stay afloat? What can you do to help ensure that business stays steady? Should you continue marketing, or take a break to save some cash? Although it may seem counterintuitive in certain ways, marketing during a recession is actually a vital element to keeping your business on track. And there are plenty of ways to improve your marketing even when the budget is tight.
Should you keep marketing during a recession?
When the future feels uncertain, it can be tempting to cut the budget as much as absolutely possible. While marketing may feel like an extra expense, it’s actually one of the greatest assets to your business. Whether a recession is looming on the horizon or you find yourself in the midst of one, continuing your marketing strategy or even increasing it is one of the best ways to keep your business thriving.
Even better yet, having a thorough marketing strategy before a recession takes place will leave you in the best situation when times get tough. Remember that your customers don’t buy when you’re ready for them, they buy when they’re ready. If you can make your business known and be clear about how you can help your customers before a recession hits, you’ll be the first one to come to their minds when the need for your product or service arises.
Instead of cutting your marketing budget when a recession is ahead, start thinking about creative ways that you can solve the problems of your customers and bring them value both now and in the future.
Let’s take a look at some ways that you can benefit your customers and figure out the best marketing strategies for your business when times get tough.
5 free ways to improve your marketing during a recession
Even if you don’t have a lot to invest in marketing right now, there are a number of strategies you can implement and changes you can make to continue making your business both helpful and known.
1. Niche down and focus on your strengths and what your customers need
First of all, niche down. Consumers spend differently during a recession. In general, less money is spent on fun and unnecessary entertainment. Your customers are thinking about ways that they can save their pennies, drive less, and streamline spending.
If you haven’t already, now is definitely the time to start clarifying what makes your company stand out from the rest. If you want to win the sale, you need to have a clear, meaningful message. What do you offer that your competitors don’t? What makes your company irreplaceable? Focus on what you can offer that people can’t find anywhere else.
In addition, focus on the elements of your business that are the most necessary for consumers.
2. Clearly state the problem you’re solving
A fatal mistake made by many businesses is not clearly stating the problem that they can solve. Instead, marketing is often focused on the product or service offered.
During a recession, people are generally more focused on the problems and concerns right in front of them than fancy promotions and messaging. Let’s break it down with a few examples.
Suppose you own a massage business. What type of messaging would grab your target audience better?
- “We offer massages”, or
- “Relive stress and sleep better with a professional massage.”
Or what if you sell bulk foods? Which message catches your attention?
- “Bulk foods are our specialty”, or
- “Save money and time with bulk foods.”
No matter what you offer, you need to let people know how your product or service is going to solve a problem they have and improve their quality of life.
3. Use Google’s free tools
Did you know that Google offers a variety of free tools that are incredibly helpful to your business? With tools such as Google Analytics and Google Search Console, you can get amazing insights regarding what’s working for you online and what’s not. Using these tools, it’s easy to find out how often your website is visited, what pages are most popular, where you’re showing up in Google search results, and so much more. With this information, you can figure out how you can capitalize on the most successful aspects of your business.
Google My Business is another free tool that provides online users with valuable information about your business, such as your location, hours, menu, and more.
Learn more about Google’s free tools and set them up for your website today!
4. Start with your current clients
Improving your marketing doesn’t necessarily have to mean reaching out to a whole new set of potential clients. In fact, your past and current clients are one of your biggest assets.
Before you spend time, energy, and more marketing dollars searching for fresh leads, take the time to talk to your current clients. Ask them why they frequent your business. Ask them how you can improve and serve them better.
You can even ask your past and current clients to help you by writing reviews, sharing your website or social media posts, and passing on your information to their friends. Check out these tips for getting great reviews from your customers.
5. Evaluate where your marketing is lacking
Do you know where your marketing is doing well and in what areas it could be stronger? At Lifedge, we offer a free marketing report assessment to help you figure out what parts of your marketing are strong and which parts can be improved. The assessment takes about 10 minutes, and when you’re finished, you’ll get a free, customized marketing plan. In times of recession, it’s especially important to focus your marketing efforts wisely.
5 free ways to improve marketing during a recession:
- Niche down
- Clearly state the problem you’re solving
- Use Google’s free tools
- Start with your current clients
- Evaluate where your marketing is lacking
Still not sure how to improve your marketing during a recession?
At Lifedge, we specialize in a variety of aspects of digital marketing, including social media management, website development, SEO, SEM, email marketing, and more. We want to help you clarify your message and implement the marketing the strategies that make the most sense for your business.
It’s free to book a discovery meeting and find out how we can help you achieve success online and give you the confidence that your marketing really works.