Cutting Down on Advertising Costs? Here’s What to Spend Your Money On
Like pulling a shoelace – if you cut down too much on your marketing spend you won’t make any sales. But without your usual sales, you have to cut down somewhere.
Almost every business is facing some of their slowest ever weeks as we head into increased self-isolation. With this in mind, where should businesses be spending their money?
Pivot to Content
Content is currency.
That’s why for the money-minded, content marketing is where the budget will be.
Why? Firstly, content is what converts your readers into paying customers. It’s the words you share that truly sell who you are and what you offer.
Secondly, content is the only form of marketing that actually gets MORE valuable over time. Think of it as a savings account. If you keep adding to it, the value will continue to grow, and you can continue setting yourself up for success even after this period. We could be in the current climate for a while, so don’t be shortsighted.
While many bricks and mortar stores are closed, content is moving online (even more so). What you share and how you react at this time will have a huge effect on your clients’ perception of you. That’s why it’s best left in the hands of experts. And when this all blows over, your business is front of mind.
Invest in SEO
Traffic equals leads and leads turn into sales.
This is the tangible, inescapable, profitable benefit of investing in SEO. While many of us are ramping up our online presence, now more than ever it’s important to rank highly on Google.
You might think SEO is something you can cut back on, but think of it this way — your competitors are in the same situation as you right now, and the reality is it’s a good opportunity to beat them in ranking for your keywords.
When considering how to improve your site’s SEO, backlinks are basically the currency of digital marketing. Focus on having the content you’re investing in also be SEO rich. That’s bang for your buck.
Build a New Website
Been putting off a website rebuild? Didn’t think you had the time? There probably isn’t a better opportunity to tackle a 3-month or longer project than during a likely lockdown.
As many digital agencies operate remotely, they’re able to continue work during a time where bricks and mortar businesses are on hold. This means you can work with them to get started on the website update project you had been putting off due to lack of time. Or use your advertising budget for the next few months on a new website instead.
By the time this uncertain period blows over, you could have a brand new shiny website to show off to your returning customers!
Keep Up Organic Social
Organic social is important now more than ever. People are turning to social media to fill their time, make purchases and scroll, scroll, scroll. Think of it as an opportunity for your organic social to be a positive presence during this time.
Create content that people can engage with, like WFH bingo, polls or even embrace dance challenges. If there’s ever a time to spend hours learning relatively simple choreography at home alone in front of the mirror, this is it.
Social media is the customer care channel of your digital marketing. And right now, your customers need that care. So be there for them, reply to DMs, and help them have an enjoyable scroll session.
Plus, heavily engaged with organic content can very easily be boosted to reach a wider audience. It doesn’t break the budget, and you already know it’s likely to perform well.
Maintain Website Updates and Fixes
The argument for this is simple: what’s the point in recruiting customers if it’s too hard for them to convert?
There’s no point baking a cake if your oven is broken. Any form of marketing you do is basically for nothing if your potential customers don’t make that final step on your website. So put money into keeping your site running smoothly and easily navigatable to maximise conversions.
Top tip: If you’re an eCommerce business, reassure your customers if you’re still making online deliveries, and adapt drop-off options to suit the current climate.
Weather the Storm
The goal during a crisis is to stay afloat.
Be smart with your decisions. Rely on data and expertise to inform those decisions. You’ll need to be agile and rejig spend in this period. It’s about adjusting the sails accordingly as we hold out for sunrise.