While the global economy remains in a state of flux, so too must organizations’ marketing strategies. Doing so requires the willingness to change tactics and keep ahead of competitors while continuing to reach potential customers. Fears of a recession have sent many businesses into survival mode; you, too, should prepare for that contingency to be on the safe side. As part of your strategy, turn to one of the region’s top digital marketing companies for help generating customized solutions.
KME.digital has the experience and expertise necessary to help businesses throughout Washington, DC, thrive during an economic downturn. While the future remains unclear and budgets may be tight, a durable digital presence can provide a competitive edge so that your organization succeeds. The right strategy can help you reach new customers, build brand awareness, and drive sales, all while keeping your marketing spend under control. For a digital evaluation, visit our website or call (703) 585-3321.
Below, we discuss a few tactics to achieve efficient marketing during economic instability:
Rethink Your Messaging
Consumers tend to prioritize products and services among four broad categories:
- Essentials: Necessities for survival or well-being
- Treats: Immediately justifiable indulgences
- Postponables: Necessities or desirables that can be reasonably delayed
- Expendables: Unnecessary or unjustifiable luxuries
As you can imagine, consumption gravitates toward the first two categories in times of economic trouble. Marketers should therefore focus on identifying their offerings as an “essential” or a “treat.”
Try to understand your offering and its current relationship with your target audience. Who are they? How is your offering positioned in their minds? Moreover, how are they being affected by the current economic climate? By understanding your target audience, you can tailor your messaging to their new specific needs and concerns, then drive results—even during hard times.
Furthermore, think about how to streamline your product portfolio and highlight your best-selling, top-tier products and services. You could reduce prices on struggling offerings that can take a hit in margins.
Prioritize Cost-Effective Strategies
Focus on practical strategies that yield high returns, like search engine optimization (SEO), email marketing, and retargeting campaigns. These strategies are low-cost yet capable of driving significant results when executed correctly:
- SEO is a long-term, foundation-building strategy. That said, a recession is an ideal time to rein in ambitious plans and focus on building your company’s SEO. Then, once the downturn subsides, you may find your company holds high-ranking positions on Google, giving you ideal placement to reap the advantages of a growing economy.
- Email marketing is an approach to nurture your existing customers and remind them of your offerings. A recession may present an opportune time to access your existing customer base, as they’re already aware of your offerings and potentially loyal to your brand, which makes them a cost-effective audience. Take this chance to bolster trust with them, as they’re the foundation that keeps your company grounded.
- Retargeting tactics offer a high return on investment for the same reasons. If people visit your site without buying, retargeting campaigns remind them of your offerings while they visit other sites. Although not loyal yet, these potential consumers have shown interest and awareness, which positions them as low-hanging fruit for your marketing strategy. Moreover, your brand will be top of mind for consumers ready to buy when the recession ends.
Employ One of the Top Digital Marketing Companies in Washington, DC
At KME.digital, we understand the challenges of running marketing in an economic downturn. Thus, we specialize in creating cost-effective, results-driven digital marketing strategies that help Washington, DC, businesses thrive, even in tough times. If you want top digital marketing companies to help you navigate the current economic climate, look no further than KME.digital. Contact us today at (703) 585-3321 to learn more about how we can help your business succeed.