How much have you invested in your company’s marketing strategy in 2020?
Hopefully, the answer is a lot. A whole lot, for that matter. But, it’s impossible to ignore the fact that in most cases, it’s actually the opposite happening. When faced with a crisis, many companies try to stay afloat by cutting back on spending and re-evaluating their budgeting. This makes sense, especially in situations like market disruptions, recession, and economic decline (all of which we’re facing today).
So, it should not come as a surprise to any of us that so many companies and businesses are doing what they can to reduce their baseline costs… at least until they’ve weathered the pandemic-storm.
But, right now, reducing your company’s marketing efforts is doing more harm than good. COVID recovery is no time to ease up on marketing, especially now that everyone is focused on little screens all day long.
The best strategy is to lean into your marketing much more. Here’s why:
Be Heard or Be Ignored
For the most part, your company’s marketing strategies are serving as a vital link between consumers and businesses.
It’s not like we’re all living our pre-pandemic lives, where word-of-mouth marketing was carrying the weight and things seemed to simply fall into place. Instead, companies need to invest in their marketing to get their business out there. Otherwise, your brand won’t get the exposure it needs to stay strong right now.
People Want to Listen
We’re in the middle of another period of rapid change. Things are happening so quickly, and everyone has their eyes on the experts to see what’s coming. Take advantage of this by being the voice that answers the public’s questions. People are more apt to listen to you when they are curious – and in today’s circumstances – even desperate to know what lies ahead.
The Noise has Quieted Down
Another reason why people are notably more open to marketing right now is that they actually have the time to engage. In many ways, the pace of life has slowed down over the past few months. Yes, we’re indeed busy with teleworking and homeschooling, but we also have more time to ourselves to think, listen, and really pay attention to what’s around us.
Marketing campaigns are more likely to fall on ready ears. Don’t miss this chance – a global pause doesn’t come around that often.
People are Online
Did I mention that people are online? These days, we’re clocking in record-high digital hours. With your target audience surfing the web, an active and robust marketing strategy gives them something to explore. Today, your ads aren’t going unnoticed and your emails aren’t going unread. Falling back on your marketing only means missing out on the chance to reel in leads.
You can spend less and still make an impact.
If your company is in a situation where budgeting is a must, be creative and look for a new way to market. Manage the process differently, in a way that meets both your marketing and economic means. If you bump up your strategies, you can achieve the same levels of effectiveness without emptying your business’s bank accounts.
It’s time to double down on your company’s marketing efforts. Don’t cut your budget - embrace it and keep marketing top of mind.