6 Reasons to Keep Marketing, Even During A Recession
You can’t go anywhere right now without hearing about the economy. Food and gas prices are increasing, and although most of us aren’t running huge banks or trying to balance the federal budget, the stress of the current economic downturn is certainly trickling down to the point that we can feel it. But one of the last things that we want to do in the middle of a rotten economy is slam on the brakes of our own businesses, you know, just in case things get worse. Instead, one of the best things we can do, for our business, for our own sanity, and for the economy, is to step on the gas. Continue your inbound marketing efforts, publish articles that others will find relevant and helpful, and keep networking. Here are 6 reasons why you shouldn’t let the current economy keep you from focusing on your inbound marketing efforts.
1. Time Over Money. The good thing about inbound marketing is that it requires you to invest far more time than money. So take the time to work on your inbound marketing strategy and you won’t have to spend a dime.
2. Let People Find You. When you’re focusing on inbound marketing, you’re trying to make yourself visible to potential customers who will be interested in what you have to offer. You want people to come to you, so the first thing you need to do is to find out where they are. What forums do they frequent? Which blogs do they comment on? What social media sites do they use? When you answer these questions effectively, you can show up where the people are and motivate them to look at what you have to offer. As mentioned previously, this is a time-consuming effort rather than a money-consuming effort. What do you have to lose?
3. Look At Your Competitors. Marketing experts say that, during this recession, businesses will be spending more on online marketing than on traditional marketing. If your competitors are investing their time and efforts into inbound marketing, you can’t afford not to do the same.
4. Measure Everything. Successful inbound marketing is easy to measure. You can quickly tell where your leads came from, where your customers found you, and the efforts you made to which they responded. This kind of information is invaluable. Use it to help you figure out what’s working and what isn’t. Do more of what works. Do less of what doesn’t.
5. Always Improve. The information you receive from analyzing your marketing efforts should show you exactly where you need to improve. If you’re not using this information to improve your efforts, then you’re wasting your time.
6. Look Toward the Future. Marketing experts have proven time and time again that the best way to ensure a successful future is to continue investing in your business during tough times. You may not have much money to spend right, now, but that doesn’t mean your marketing efforts should come to a grinding halt. Be persistent. Keep plugging along. When things start looking up again, you’ll be ahead of the game.
When the money’s tight, our natural instinct is to stop spending, of course. Resist the temptation to sit on your hands. Years of research shows that cutting back on marketing when things are looking grim puts companies at a distinct disadvantage when things start looking more positive again. Take your cue from Rupert Murdoch, who continues to invest even when everyone else has thrown in the towel and decided that there’s nothing else to do but wait it out. And even if you don’t have piles of money sitting around, you can still invest a great deal of time in your marketing efforts. Find out where your potential customers are hanging out and engage them where they are. Spend some time figuring out where your efforts give you the greatest return on investment and make whatever improvements are appropriate. You’ll be glad you did in the long run.
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