Marketing during a recession

The word recession has quite a profound effect on many people, afterall many of us lived through the 2008 recession. Unemployment was high, there was a lack of jobs and a lack of disposable income. A lot of businesses went bust as they couldn’t respond to the lack of customer spending.

But what proved worse than a recession was the pandemic we’ve all been through. If you survived that, huge congratulations, it speaks highly of your business. If there’s something we learned during the pandemic it was that everyone had to adapt and adopt digital technologies and processes and if you don’t have an online presence, its hard to exist as a modern business.

It is common in times of financial worry to look at ways of cutting costs and marketing is often seen as an early choice, but imagine if you’re an online business and you stop posting content, building an audience, existing in the eyes of your customers. Social media algorithms don’t care if you stop posting, they work to feed the appetite of their consumers, if someone else is active with their web presence they will be pushed infront of the eyes of your customers.

If you feel like you will need to cut your marketing budget in the future then its even more important to act now. Bulk create your content now and create your social marketing strategy to see you through the rough times. The right videos for the right audience can work for you whenever you need them to. Consumers don’t stop using the internet because they have less money, in fact they spend more time online and people are still spending money through desire or necessity. This is the perfect time to be building relationships with customers as you’re either going to be one of the few active options for them, or you will build long term trust with them as you show you still exist through hard times.

If you want to discuss your strategy get in touch with us. We’re not going anywhere.