5 Tips to Recession-Proof Your Marketing Strategy
As a small business owner or marketer, you understand the importance of creating a strong, memorable brand for your audience. However, during economic downturns, even the most well-established brands can struggle to stand out in a crowded market. As an elder millennial, this is unfortunately not my first rodeo. The fight for each dollar spent gets a lot harder, and now, more than ever, you need to run a tight ship. In order to help you weather the storm, consider utilizing these five recession-proof marketing strategies:
Content Marketing: Content marketing is all about creating valuable, informative content that resonates with your target audience. This can include blog posts, infographics, videos, and more. By providing helpful information, you can build a strong relationship with your customers and position yourself as a thought leader in your industry. Bonus Points: Blog posts are great for SEO—just keep them updated.
Influencer Marketing: Partnering with influencers in your niche can help you reach a new, engaged audience. Influencer marketing allows you to tap into the credibility and trust that influencers have already established with their followers. This is really helpful for new businesses trying to gain traction in a crowded social media landscape.
Email Marketing: Email marketing effectively reaches your customers directly and builds brand loyalty. By sending regular newsletters and promotions, you can keep your customers engaged and informed about your brand. Reach out if you need assistance branding your email templates—it’s a critical touchpoint to get right and can be highly impactful if utilized consistently. One of my goals for 2023 is to take my own advice and grow my email list.
Social Media Marketing: Social media platforms are a great way to connect with your target audience, showcase your brand, and drive traffic to your website. Whether you choose to focus on TikTok, Facebook, Instagram, Twitter, or another platform, it's important to have a consistent presence and engage with your followers and audience.
Referral Marketing: Word of mouth is still one of the most powerful marketing tools available. Encourage your satisfied customers to refer their friends and family to your brand, and consider offering incentives for successful referrals.
Do you manage a rapidly shrinking budget? Here’s where I’d direct funds to maximize impact:
Print Advertising (Pick a magazine with a long shelf life! I like Edible Blue Ridge.)
Outdoor Advertising (Vinyl Bus Ads, Vinyl Vehicle Wraps, Digital Billboards)
Social Media Advertising (Sponsored Content, Boosted Posts, Targeted Campaigns)
Non-traditional Advertising (Guerrilla Campaigns, Ambient Marketing, Environmental Design)
If these strategies are combined in some fashion and applied consistently, then over time you’re going to see steady, sustainable growth—no matter the economic climate.
