Small Budget, Big Results: Making the Most of Your Marketing Strategy in Changing Times
The economic consequences of the coronavirus pandemic have many companies scrambling to re-adjust their strategies to best weather the storm. While it may seem counterintuitive to spend more money and resources on marketing during recessionary periods, these times can be a good opportunity for companies to solidify their brand’s position and reach for the long term.
That said, increasing -- or simply maintaining -- current marketing budgets is a luxury for most companies, at least for the foreseeable future. To keep driving crucial sales, here are some marketing tactics that, while still valuable, only cost time and energy:
Glean customer insights. Implementing customer surveys or feedback opportunities can cost little to no money, and the return on investment is incredibly valuable both in the short and long term. Spearheading conversations with customers can provide insight into what motivates them to engage with your brand, generate new revenue ideas, provide feedback on your products or services, and much more.
Repurpose content. Use this time to do a comprehensive evaluation of all the marketing content your brand has in its arsenal and determine what can be repurposed, whether it’s evergreen graphics, unused customer testimonials, or old articles that contain relevant material. This will save you money and time (and is a good way to get organized.)
Optimize and revamp your content. Make the most of existing content and materials by doing maintenance on elements of your marketing strategy that are underperforming. Play with A/B-testing to optimize various elements of your emails and audit all materials across your marketing portfolio to ensure all copy, graphics, and HTML are up to date.
The most important thing brands can do is to keep creating content, whether it is new or up-cycled. Creative, relevant, and engaging content across your marketing channels helps bolster brand awareness, even during times of change, so you can end up in a stronger position on the other side.
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