Cutting Budgets? Keep Your Digital Marketing Budget Intact!
Let’s face it – COVID-19 has hit us all hard, especially in the checkbook for small businesses. The economic downturn has caused some serious problems for a lot of the country, but that doesn’t mean you should cut your digital marketing budget! As the old advertiser’s adage goes, “When times are good you should advertise, when times are bad you MUST advertise!” At a time when people are spending more time at home than ever, digital marketing is more important than ever to make sure that your business makes it through the tough times. Even though you might want to be pinching pennies, learn why it’s important to maintain your marketing budget to ensure future business. It doesn’t matter whether your company is focused on B2C, B2B, B2G or all of the above, here are some thoughts to help you argue for your digital marketing budget to remain untouched – or even be increased.
- Your competitors are probably cutting their marketing budget. That means every penny you spend goes further and helps increase your market share. You can get pay-per-click ads for less and make your company shine at a time when others are hiding away, hoping to weather the storm in silence.
- A strong marketing message during hard times makes your company look strong and resilient. Continuing to advocate for your brand and what it does, enticing investors, and drawing in new customers during the downturn can help you come out stronger on the other side.
- Grow your brand’s name recognition during these difficult times. This will help it stay at the forefront of that many more people’s minds when they’re ready to buy and will make it easier for them to come up with your name to recommend to friends and associates.
- Focus your marketing efforts on products and services that help people live their best life now. In tech? Tell the story of how your software makes it easier to streamline their workflow from home. Great educational products for kids? Homeschooling families are at an all-time high as schools scramble for long term solutions.
- Some examples of successful marketing in hard times? Nobody used dry cereal before the Great Depression and Kellogg’s Rice Krispies were launched. Who’d heard of Toyota before the early-1970s energy crisis and recession? Driving new business and working to be innovative can help your product flourish even in a slow economy.
Instead of cutting your marketing budget in hopes to coast through the hard times, expand it or maintain it during this difficult time to enter a larger market share and emerge stronger as the downturn begins to recover. If you’re not quite sure how to create a solid strategy to get the most out of your digital marketing budget, Chair 10 Marketing can help you make the most of it. Please feel free to reach out today with any questions, for more information or to schedule a consultation to learn what we can do to grow your company’s marketing presence.