We are months into a worldwide pandemic, and there are still many unknowns. But, two things are certain:
- Most businesses need to adjust their marketing strategy to endure, and
- Digital marketing is the key to making that transition successful.
It’s common to put more pressure on marketing during a recession. Expectations are that it will achieve more with fewer resources while still providing a high return on investment. While this is possible, under current conditions it requires reallocating marketing dollars to digital marketing tactics. An article from Forbes says it best:
“We are in uncertain times, but with the increase of remote working and a collaborative approach, companies are turning to digital channels and embracing the transformation. We have seen a real spike during the last few weeks from companies wishing to create or update websites, launch new eCommerce channels and create social media campaigns focused on home-workers and a real focus on using influencers and SEO to reach new audiences.”
For businesses that have been slow to transition from traditional to digital marketing, time is running out. Some businesses have transitioned their budgets to include digital channels. But, they can gain valuable market share by accelerating that transition and fully embracing a digital strategy. As we’ve previously discussed, businesses that maintained or increased their advertising budgets during a recession actually received positive results in the marketplace.
Real-World Cases of Digital Pivots
CASE STUDY 1: In-Face to Internet
In the pre-coronavirus world, one of our technology clients relied heavily on trade shows and other events to generate leads. When that channel disappeared under social distancing restrictions, we realigned their budget to establish an automated marketing program coupled with a digital and retargeting advertising program. Working with their sales and marketing department, we developed a strategy to digitally educate their target audience on the problems the company solves, drive online demos signups, and retarget website visitors with advertisements to drive them back to the client’s website.
CASE STUDY 2: Social Presence to Social Powerhouse
For one of our municipality clients, we were consistently creating social media content that produced impressive engagement numbers with their audience. However, their audience size was stagnating. So, we worked with them to create a social media advertising plan and budget that included boosting posts, social media ads, and interacting more with followers. Over the course of just a few months, their social media account likes grew by thousands.
CASE STUDY 3: Advisors to Advisees
It’s not only our clients that needed to reassess their marketing strategy as a result of the pandemic. We also took the opportunity to change our own strategy. We developed a new website with messaging and information targeted to our ideal client personas. The website is also optimized to work with marketing automation and digital advertising programs that we are currently developing.
It’s decision time for many businesses, especially when it comes to marketing budgets. Businesses that down-size their marketing and advertising budgets in reaction to current social and economic conditions are in danger of losing a significant amount of business. Or, worse yet, losing their business entirely. Those that adjust their strategy, invest in developing a strategic marketing plan, and transfer their marketing and advertising dollars to digital will have a significantly better chance for success in the year ahead.
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