Emerje Marketing

Why it pays to increase (or at least retain) your marketing spend during an economic downturn - really!

You'll stay top of mind.

If your competitors are reducing their marketing budget, keeping yours the same, or increasing it, will mean that you're in front of more people during a hard time.

Remember that this situation won't last long and that you'll be in a much better position if you've been in conversations with your clients while they're having a hard time.

You'll learn a lot about your potential customers.

By continuing to have conversations, both with existing and potential customers, you're in a great position to hear what they're saying. You can learn more about what they need and what they want and if that means you need to pivot or at least tweak your business offering, then you're going to be in a much better position to offer them what they need when finances are easier.

You'll increase the trust factor.

If you stay the course with your marketing, or increase it, you're showing your customer that you're stable and reliable. If you're still in front of them, when your competitors are slowing their marketing efforts, you'll be seen as the company to trust, especially when you continue to have meaningful conversations with yout customers to find out what they're struggling with.

You can take advantage of the "quiet."

Your marketplace might be incredibly noisy most of the time, but during an economic downturn other companies are reducing their marketing budget and theirfore their visability, which means if you increase yours you can cut through the normal roar and promote your message for a new product or service. Remember that you need to continue having conversations in the right way and to schedule launches at times that make sense.

At Emerje, we're experts in creating and implementing marketing plans that help businesses thrive in hard times. Reach out through https://www.emerjemarketing.com/contact-us to see how we can help

When times are tough (can anyone say global pandemic?) & people stop spending, you need to tighten your belt & budgets get cut to cope with decreased revenue.

One of the first things on the chopping block is the marketing budget. But, is that really the best thing to cut?

I know you might be tempted to decrease your marketing budget when things are tough, but if everyone else if doing that, it make sense to at least maintain your budget so that you're still in front of your potential customers when other companies have decreased theirs.

If everyone else is cutting their marketing budget, and you increase yours, that puts you in an amazing place to still be in front of people who are looking for your products or services when everyone else is scaling back their visibility.

Remember that there ARE people who are STILL spending during this time, & you want to make sure that your company stays top of mind for them, through increasing your marketing presence.

Continue having conversations with your audience, they'll know you're still around for them when they need you (when they're in a better position to spend), & this conversation allows you to stay relevant to them. This is invaluable for letting your customers & potential customers know that you're in these hard times with them & creating content to cheer them up in hard times.

You don't need to do what Coca Cola did in 2020, & double your marketing budget, but either increasing it, or at least leaving it at the level that it's at, means that you'll stay top of mind for your customers. Not only that, but you'll learn a lot by listening to your customers needs & wants, you'll stay relevant & project the image of stability and reliability & you can take advantage of the "quiet" to launch something new or innovate in a way that wouldn't have been possible before.

If this sounds like something you'd like to implement, but don't quite know where to start, reach out to Emerje, through our link in bio, and see how we can help https://www.emerjemarketing.com/contact-us

So often these days, marketing is seen as a 'one and done' affair. Organizations decide on a course of action, set it in motion and then...that's it. Companies need to remember that just because you're 'doing' marketing, doesn't automatically mean that you're going to get the results you want.

You need to evaluate your marketing and make changes where necessary. But first, you need to start with understanding your initial goals, and then rethink them. If you focus solely on increasing revenue, you might be missing out on marketing strategies that would help with that as well as other goals.

The first thing to do is widen the lens of the marketing goals and make sure that you take more than revenue into account.

Aside from increased revenue, you can devise a plan that also focuses on:
• Increasing brand awareness
• Generating high-quality lead
• Growing & maintaining thought leadership
• Empowering colleagues

Your organization has spent a significant amount of resources, time & effort on marketing your business, you want to know what's working and what isn't. What campaigns are moving the needle most and propelling your business forward?

You can't know that, without evaluation. When you know for certain which aspects are landing with the right audience in the right way at the right time (not to mention those that are falling flat) and making sure that you're emphasising what's working well, refine what's not going so well and reap the benefits, long term.

If you'd like support creating a fluid marketing strategy that can flow with your business goals, reach out to us and see how, together, we can make this happen https://www.emerjemarketing.com/contact-us