How to use marketing to your advantage in uncertain times
We all know that we’re in uncertain times. With the B-word on everyone’s lips, uncertainty can make people cautious, especially when it comes to their business strategy.
However, a report by Statista said that UK Digital ad spending is expected to increase even further to roughly £12.8 billion this year, so whilst you may think it’s time to retreat you could be doing your business a disservice.
That’s why in this article we wanted to explore why uncertain times could be a good thing for businesses looking to increase their marketing efforts, and see how it could impact companies across the country.
Strengthen your reputation
In this digital age, businesses need to be online. It’s as simple as that really (well, in our opinion anyway).
Consumers are more likely to search for a company online than ever before, so if you’re starting to roll back on your efforts, minimising your visibility, then you’re not going to be found. Or worse still, you’re going to come across as uncertain or distant, as if you don’t really believe in yourselves. And if you don’t then how can your customers?
Customers seek stability and surety, so if you’re able to show that you’re both of those things online, then they’re still going to invest time, energy and money into your products or services.
Share success stories
The written word, the moving image, the cave-wall drawing, it all comes down to one thing. Storytelling.
Showing your customers the positive outcome of your products or services has the power to transform your offering from an intangible product into a real vision for your customers.
That’s why we always recommend having success stories, testimonials or case studies on websites, marketing collateral or social media platforms.
These videos should illustrate how your company has helped enhance a businesses offering, as well as highlighting the advantages of using your product or service. In uncertain times showing that your solutions work is absolute gold.
Step away from the crowd
Where some businesses in your niche may be stepping away from marketing, now’s the time for you to take the lead and stop following the crowd.
As we’ve already mentioned, customers like to see a continuous stream of content online, and offline. Choosing not to market means choosing to leave your sales to chance, and this can often have a negative impact on your business’s income.
Remember, without new customers, a business will stagnate. Take control and step away from the crowd.
Showcase your forward-thinking ethos
Staying optimistic about marketing in uncertain times can be hard, and the natural assumption is that the business needs to draw back and focus on existing resources.
However, for a company to continue generating revenue, they need to adopt a forward-thinking ethos.
Some companies may withdraw from advertising or the organic marketing sphere, and this gives your business a real opportunity to jump into the gap left behind.
Your name will still be out there, customers will still see you and they’re more likely to remember your efforts.
Ultimately, good marketing and a positive attitude takes a lot of the hard work out of advertising your business.
Customise customer experiences
Part of knowing your customer means customising their experience with your business, both online and offline. If you’re listening to their feedback and adjusting your marketing accordingly, then they’re more likely to be receptive to future marketing messages.
One thing to consider would be asking your customers for specific feedback on your digital marketing.
Whether that’s through a focus group or through your company newsletter, any information you can glean from what motivates them, what their concerns are or even what they want to see can benefit your business through uncertain times.
Identify new opportunities
More and more consumers are carefully planning where to invest their money (whether that’s in products or services), and this is a golden opportunity for business owners to identify new problems that their offering can solve.
If you’re constantly asking yourself: what new pressures and problems do my customers face, then you’re going to be able to see where your business has a chance of breaking in to.
Once you’ve got the answer to that question, you’re going to be able to develop new products, or enhance existing ones.
If you want to learn more about the ins and outs of marketing, whilst enhancing your digital presence, take a look at some of the blogs we’ve written below:
- Navigating social media algorithm updates in 2019
- From cheesy to stylish, the evolution of stock photography
- LinkedIn company pages are finally becoming more interactive
In short, marketing is here to stay. Despite the uncertain economic times we’re currently in, businesses still need to approach their marketing and digital presence with as much passion and drive as they’ve always done.
Remember, if your competitors aren’t doing it, then you should be.
We know that uncertainty can put a dampener on your marketing efforts, and if we’re honest that’s something to be expected.
But it’s important to remember that living with the “what if we’d done that” can sometimes be a lot worse than living with the “we’ve done it, now how can we improve.”
The final decision needs to be yours, and it needs to consider your ultimate business goals. If you think that marketing in uncertain times could be of benefit to your organisation, then what’s stopping you?
To find out more about how and why you should be marketing, and to see if we can help you with your on-going efforts, call the studio today on 01489 232 312 or get in touch with a member of our team here.