While there is some superficial logic to this, Henry Ford’s famous claim that “ a man who stops advertising to save money is like a man who stops a clock to save time ” is perhaps the most effective way. in which we can contextualize how vital it is to strengthen our Marketing campaigns can be in times of crisis.
The COVID-19 pandemic is also not a ticking clock, and most of the time, the organizations most likely to thrive in these difficult times are the ones that are using this time to get ahead, refining their SEO to increase your visibility on Google, as well as to invest in multichannel marketing as a means of staying ahead.
Here are some other ways that digital marketing can be your biggest defense against periods of great economic uncertainty.
Benefits of Boosting Brand Recognition and Reputation
One of the most disturbing aspects of a recession is simply the lack of coherence in the world around us, which can be jarring for both business owners and consumers. However, it is worth noting that in the face of a rapidly changing economic climate, consumers appreciate the familiarity of the organizations around them.
Some of the most trusted brands in the world created social media campaigns specifically for the COVID-19 pandemic as a means to give consumers around the globe a sense of normalcy. The messages behind these campaigns were not always specifically about the pandemic, with many companies toying with the idea of working from home, as well as relying on a sense of global togetherness. With most consumers isolating themselves at home and turning to their phones for comfort, these messages were able to land in full force.
You can also use times of economic uncertainty as an opportunity to further develop your brand and increase brand awareness so that your organization can get up and running as soon as the economy begins to recover, if not sooner.
Develop and prepare for the new economy.
For many of us, the COVID-19 pandemic has been undeniably bad for business. International trade has been near impossible for most of this last year, and job shortages around the world have limited consumer spending.
That said, the 2020 tumult appears to have generated some particularly short-term negative impacts compared to the 2007-2009 GFC, with the the global economy is currently recovering At a rate we’ve never seen before
Why have we recovered so quickly from what was essentially a global industry shutdown? The increasing adaptability of modern companies is the most comprehensive answer here, and digitization is a key player in the development of all modern industries. With a growing number of companies using the digital resources and channels available to them, organizations around the world have been able to adapt their business models, embrace digital processes, and serve their customer base in a new and improved way.
The development and constant use of these new digital channels have come to reshape industry practices around the world. Consequently, the industries that prioritized their development during the pandemic have gained an advantage in ournew economy‘, an economy that requires companies to be multichannel, highly digitized and therefore adaptable.
The use of email marketing for customer retention.
The last thing you want to do in times of economic uncertainty is neglect the clients or clients you have served in the past. This is the time for you to maintain connections with your pre-existing customer base and the broader community, just as it is a time to reach out to potential customers.
Believe it or not, one of the most powerful tools at your disposal here is actually the humble junk mail Bell. You can send personalized emails to customers who have signed up to your mailing list or who have recently purchased from you, to make sure they know that you are still around during these tumultuous times. If your messages are current and weather sensitive, this attention to detail is very likely to elicit positive responses from your customers, which in turn can lead to your organization experiencing a higher conversion rate.
Since email marketing campaigns generally don’t require a large budget, these conversions can be a doubly valuable addition to your bottom line in times of economic downturn.
As the modern business world continues to experience digitization, the importance of developing and refining your organization’s digital presence can no longer be underestimated. Investing in digital marketing will ensure that your organization is well positioned to adapt, not only in the face of economic uncertainty, but also in the face of rapid changes in your industry. In essence, an investment in digital marketing is an investment in the longevity of your business.