Let’s try and escape the pessimistic rabbit hole scenarios and try to focus on the bouncing-back out of this crisis. The question that appears in every small and medium sized business owner at this time is – Should I pause my campaigns? Is marketing truly necessary during the COVID-19 crisis?
Whether it’s a rational decision making to stop advertising or a panic induced choice, business owners tend to cut back on their advertising budget when recession comes into play. But, what if the opposite is true? A relevant quote from the founder of Wal-mart, Sam Walton, comes into mind in relation to advertising during a recession – When asked, “What do you think about a recession?” he responded, “I thought about it and decided not to participate.”
Let’s look into the benefits of continuing and even prioritizing digital marketing during the crisis.
- The noise is lower than ever and the competition is stunted. This allows for better reach and more exposure.
- Web shops and e-commerce is on the rise – especially during the isolation period, since most people are at home and don’t want to risk themselves by going out and buying essential goods from the local markets. This means that if you’re a small or medium sized business owner, move your products online.
- Paid ads are becoming cheaper. In other words, web traffic is up and there are fewer advertisers. This means ads are cheaper. CPC (cost-per-click) have been decreasing and ROI (return of investment) has doubled in the past few weeks.
- History shows that if you cut less during a recession and down times, you will gain more in stable and better times. Don’t make sweeping cuts to your advertising; instead, focus on a more progressive strategy that will give you a head-start when things get back into normal.
- It’s a unique opportunity to connect more with your customers and make your brand stand out.
- The bounce-back surge is going to happen. It might sound like fake positivism or a too optimistic point of view, but in reality, learning from past recessions, it has taught us that the aftermath can be used as an advantage to some businesses.
- SEO is a long-term strategy. Don’t halt the momentum, because you won’t see the results when the market is on the rise!
- Last but not least – The down time opens up space for more creative and progressive thinking. Use it wisely and start doing pivoting strategies and swiftly adjust to the new circumstances.
The verdict is that the world will go back to normal soon. The human race has adapted and overcome thousands of other apocalyptic scenarios that seemed like the end of the world as we know it.
We encourage you to prepare for the bounce-back and maneuver through the crisis with ease through our free marketing consultancy at generadevelopment.com/contact. We are looking forward to hearing from you!
Quarantine yourself, not your brand!