It’s no secret that the current macroeconomic conditions are challenging (understatement of the century!). From a reduction in force to a reduction in budget, you’re likely being asked to do more with less, and you’re not sure how you’ll hit your goals. The right digital marketing agency can help you manage the situation, provide some instant relief, and help you emerge ahead of your competition instead of falling behind.
Most people don’t know that ROI·DNA rose from the ashes of the 2008 recession. Our formative years were spent helping leading companies plug gaps, rebuild, and scale efficiently over time. By developing more targeted marketing campaigns and optimizing conversion rates, we were able to reduce marketing costs. By helping our clients identify, find and develop new customer segments, we expanded their market share. Our ad campaigns were compelling and optimized to convert, and we used data and analytics to keep improving the results. As a result, engagement and conversion rates went up, CPAs went down, and we were able to grow our client’s pipeline more efficiently when it mattered most.
How to Grow In an Economic Downturn
To weather the impact of layoffs and set yourself up for future success, you’ll need the right partnership from your digital marketing agency. You’ll want them to:
1. Help you to develop an integrated digital marketing strategy for more efficient leads and sales; this should be ABX focused for the greatest ROI.
2. Help you to to attract more organic site traffic and drive higher conversions.
3. Helps you design, develop and execute a full-funnel paid media strategy. Subject matter experts will help you get the best results faster. Let them do the heavy lifting.
4. Help you optimize and leverage your tech stack to increase engagement and nurture existing customers
5. Help optimize your website, landing pages, and email marketing campaigns for maximum impact.
The key to succeeding during a downturn is to focus on long-term customer relationships. Investing in marketing and advertising allows businesses to build a solid customer base and retain them even after the economy has recovered. It’s also a surefire way to ensure customer loyalty and give businesses a stronger competitive edge in a recovering market. We recently saw that the companies that invested in marketing and advertising during COVID were able to retain customers, scale, and outcompete far more effectively than those that didn’t; we expect the same to be true during this downturn.
You might still feel like drowning your downturn sorrows in Ben & Jerry’s and binge-watching White Lotus. Trust us; we get it. But with the right digital marketing support, you’ll at least have someone on your team to help you to hit goals, deliver projects and maintain your strength as a company.