How to Adapt Your Marketing Efforts in a Time of Economic Uncertainty

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As the economy faces a stock market crash and a high unemployment rate, tensions rise and financial anxiety takes hold of businesses who are looking for ways to adapt. Many businesses are reducing costs, including their marketing budget. However, now may not be the best time to put a halt on your marketing efforts, and here is why.

 

Once the economy starts to build back up and things return to normal, you will need brand awareness and strong customer relationships. When people are ready to go out again, you want to be the first ones there to serve them. Now is the time to maintain your loyalty with your customers, while positioning your brand as trustworthy and reliable.

Get ahead of your competition by standing out amongst the crowd. As your competitors cut back on budgets, you can invest in creative tactics to build brand awareness, gain new customers, and shine bright in these dark times.

Optimize Your Website

Add a key message to your website that lets your customers know the precautions you’re taking and that you’re there for them during these hard times.

The general voice and tone of the world has changed, which is why you need to adapt your voice to the current climate. What is the key message you want to bring to your customers? If you’re a hotel, what precautions are you taking to maintain cleanliness and safety for your guests? If you’re a restaurant doing takeout and delivery, how are your employees practicing safe handling of your guests’ food?

These are the types of questions to consider when building your message. Your customers want to know you are taking every precaution. Build trust, and assure them that you are taking their health and safety seriously.

Create Blog Content

Now is not the time to sell. Focus more on giving your audience content that is informative, helpful, and trustworthy. Be a resource of information that ignites hope instead of fear and anxiety.

Share articles that offer a guide for your customers. If there is something interesting in a certain industry that can help your clients, share this information with them. If there are resources to guide them, share those resources.

Stay Active on Social Media

You’ll want to start by focusing on social listening. What is the tone of your industry during this time? What is your audience talking about right now?Develop a strong tone of voice for your social media. This tone of voice may have been different from your tone of voice before the pandemic. Stay away from Call-to-Actions. Focus more on supporting your audience and community with content that inspires them, uplifts them, and engages them. 

Once you put some of these marketing tactics into practice, you will start to develop a stronger bond with your existing customers and begin to bring in new customers. It’s time to adapt your marketing methods to the current climate.