Investing in Your Company’s Future, Now
Ask any business owner what matters most and they’ll likely answer, connecting with clients.
Before the March 22 pause, there were many ways to reach an audience. Now, everyone is home, and the economy is uncertain.
When challenging times arise, businesses often look to cut expenses, but slashing budgets across the board typically doesn’t work. A study featured in the Harvard Business Review found that the companies that fared best during the Great Recession combined improvements in operational efficiency with strategic investments in marketing, sales, and R&D.
The findings support a century of studies showing that marketing investments during uncertain times typically yield more connections, deeper engagements, and higher post-recession growth. Why? Because less noise and competition makes it easier for companies to increase market share.
People are going to remember the businesses and brands that provided them with valuable information. Now is the time to continue building a foundation for your business by offering the information your audience needs most. If you listen to them, you’ll understand how to best help them. In turn, you will strengthen your relationship with your contacts and be perceived as a true resource that cares about them and their companies.
Here are some tips that will help you stay top of mind throughout the current situation—and position you for greater growth once the economy recovers:
The Bootstrap Trap
It might be tempting to bootstrap your communications until the economy begins to gain traction, but homespun messages can reduce your credibility. Worse, they may show weakness. And if you lose a client, there’s no guarantee you’ll get them back.
Stay in Tune
Marketing during a downturn requires even more authenticity and a deeper understanding of where your audience is coming from. Your contacts likely don’t need a sales pitch right now; they want valuable information they can use to make smart decisions. An informative, clever, and even heart-warming communication that reflects the current situation will reach further than ever before.
There are many budget-conscious marketing strategies that can keep you connected to your audience. Here are just a few:
Host a Webinar
What are your clients’ biggest challenges now and in the immediate future? Can you help them? A webinar allows you to make a personal connection while sharing your expertise. In turn, you’ll position yourself as a thought leader and a resource. With some creativity, you can transform this informative presentation into a truly memorable and even entertaining brand experience. One business owner donned a sequined suit and educated attendees in a format similar to The Price Is Right.
Write a Case Study
How have you helped clients during this time? Chances are, other organizations are struggling with the same issues. Done correctly, case studies make the benefits of your offerings concrete, showing prospects the results you can help them achieve.
Post Tips on Social Media
While social media channels are busier than ever these days, there’s always room for tips that are truly helpful. Stay consistent. Stay involved with the conversation, and be sure to brand your posts so they are an unmistakable representation of your company.
Launch That blog
Similar to webinars, blogs offer the opportunity to share your expertise and answer your clients’ questions during this uncertain time. Over time, you will build a trove of information that proves your experience and expertise. Combined with search engine optimization, an active blog can also increase your online visibility, which is especially important right now.
Experts agree that it’s best not to go dark during a downtown. If you put your resources into smart marketing today, that investment will help you emerge stronger than your competitors. You’ll see higher engagement rates and build a bigger, more loyal audience to communicate with on the other side of this crisis, which will drive sales long-term.