Back in the day, I swam competitively. I particularly enjoyed long-distance swims because they required developing a sustainable breathing pattern and building endurance.
In a 1650yd race, some swimmers think they should slow down when coming toward the wall. Competitors who endure know the secret of meeting that wall: power into the turns.
The same is true for small business owners coming up fast on the wall ahead.
Today, that wall consists of daunting economic challenges. You may find yourself in the uncharted waters of supply-chain issues, a disengaged workforce, or outrageous inflation. The churning water contains many hazards, making swimming dangerous. However, turbulent times also present unique opportunities for entrepreneurs willing to adapt and innovate.
When the wall appears, power into the turn by increasing your marketing efforts.
Staying Top of Mind
When consumers are tightening their belts and scaling back their spending, it's crucial to remain visible in their minds.
Increasing your marketing efforts ensures that your brand stays top of mind. Consistent and targeted marketing campaigns help you maintain your presence in the hearts and minds of your customers, making it more likely that they will turn to your products or services when they are ready to make a purchase.
Now is the time to develop a content calendar and increase your social media activity, email marketing, and advertising efforts. Stay engaged with your audience, even if they're not making purchases.
Gaining Market Share
You're not in this alone. The business landscape is beginning to shuffle as some companies struggle or close, creating opportunities for you to step in and gain market share. Increasing your marketing efforts can attract new customers and win over clients who may be reconsidering their options.
Invest in targeted advertising campaigns and offer promotions enticing potential customers to choose your business over competitors.
Building Trust and Loyalty
In times of uncertainty, trust and loyalty become invaluable assets.
Increased marketing efforts can help you build and reinforce your brand's trustworthiness. Regular communication and transparent, helpful content can establish a stronger customer connection, leading to long-term loyalty. That's where a strong marketing funnel comes in.
Generate valuable content, such as informative blog posts, webinars, or educational videos. Show empathy and understanding toward your customers' challenges and offer solutions.
Learning and Adapting
Marketing during tough times also provides opportunities for learning and adaptation. You can gain valuable insights about customer behavior, preferences, and pain points, which can help you make informed decisions in the future. Use this time to experiment with different marketing strategies and measure their effectiveness.
Monitor your marketing campaigns closely and use analytics to gather data on what works and what doesn't. Be willing to pivot and adjust your strategies based on your feedback.
Effective Cost Control
While it may seem counterintuitive, investing in marketing during challenging times can be cost-effective. Traditional advertising costs can decrease as competition wanes, making it more affordable to reach your target audience. Moreover, the digital landscape offers cost-efficient marketing options, such as pay-per-click advertising and social media marketing.
Explore digital marketing avenues and carefully allocate your budget to maximize your reach and ROI.
Leveraging Technology
The digital age has revolutionized marketing, offering small businesses a wide range of tools and platforms. By embracing technology, you can efficiently reach a global audience and precisely target your ideal customers—harness marketing automation, email marketing, and social media advertising to boost your brand's visibility.
Invest in technology and tools that can precisely streamline your marketing efforts and target audiences. Some of my favorite resources include SEO tools such as Ahrefs , AIOSEO and Yoast.
Finally, consider outsourcing or partnering with experts to maximize available resources.
Marketing Strategy Sustainability
Increasing your marketing efforts during economically challenging times is a strategic move that can help small business owners do more than survive. They will thrive.
You can navigate turbulent times successfully by staying top of mind, gaining market share, building trust and loyalty, learning and adapting, effectively controlling costs, and leveraging technology. Embrace the opportunity to differentiate your business and emerge stronger on the other side. As the saying goes, "When the going gets tough, the tough get marketing!"
We're all swimming in this together. Planning for sustainability will carry your business forward.
Remember to power into the turns!