8 Ways an SEO Company Can Help During an Economic Downturn
An SEO company can help in a recession
Why an SEO company during an economic downturn?
Thus far, 2020 has been possibly the most volatile economic year to date.
Because of this economic uncertainty, some businesses are looking for ways to cut costs, which may even include digital marketing. However, while letting people go or cutting certain costs can be tempting, these cuts will almost certainly result in even further damage to your bottom line.
When a ship appears to be sinking, the captain will naturally want to remove as much weight from the ship as they possibly can. Dumping “unnecessary” goods, such as tables and chairs, may help keep the ship afloat for a little bit longer. But while the floor of the ship certainly has some weight to it, just as marketing has some costs, removing the floor from the ship in the name of lightening the load will accelerate the disaster even further.
Digital marketing and SEO during recession
In this, perhaps slightly dramatic, example, your digital marketing efforts represent the base of the ship. They are what will keep you afloat, both in good times and in bad. Digital marketing and search engine optimization are essential for your business to get noticed and ultimately generate revenue. Without having a steady base to work with, everything you do beyond this base will not be nearly as fruitful.
In this article, we will discuss eight ways that maintaining—or even increasing—your digital marketing efforts can help your business weather periods of economic downturn. While it may be tempting to “jump ship” during these uncertain times, staying on board and maintaining a steady course will ultimately help your business get to where it strives to be.
1. Increased Exposure
In almost any industry, one of the keys to successfully running a business is having as many “lines in the water” as you possibly can. Marketing is not always about trying to convince people to take action today. Instead it is often about building long-term relationships that will be fruitful in the future.
If you take away your digital presence, your long-term potential buyers will quickly forget who you are. Even in times of economic uncertainty, demonstrating continuity and continually getting new exposure will eventually pay off.
2. Maintaining Existing Clients
During times of uncertainty, generating a sense of community will be very important. Now is the perfect time to build stronger relationships with your already existing clients. This can be accomplished by showcasing ways you are helping around the community. You can also offer special discounts to existing customers, and be flexible enough to adjust your business model to work within an ongoing crisis.
If you allow a temporary downturn to end the relationship you have with your clients, then you will eventually need to begin the prospecting process again from scratch.
3. Decreased Cost of Access
Economic downturns can create excellent opportunities for growing businesses to secure long-term discounts on various services. In the increasingly competitive world of SEO marketing, many firms will attempt to attract new clients by offering special rates during times of crisis.
This can create a mutually beneficial situation where you can access quality services at a discounted price while the firm you are working with can maintain its needed stream of clients. From there, you will have a working relationship that can be fruitful for many years to come.
4. Media Effectiveness
During times of economic uncertainty, many people will either lose their job or begin working part-time from home. When people are either not working or partially working from home, they will inevitably spend more time online.
The onset of COVID-19, for example, caused people to dramatically increase the amount of time they were spending online and using social media. As a result, the potential benefits of running a new SEO marketing campaign have dramatically increased. The audience is already there, it remains up to you to speak to them. This is another way an SEO company will help in the economic downturn.
5. Better Data, Better Decisions
Hiring an SEO firm will also put your business in a much better position to make objective decisions. This is especially important during times of uncertainty and marginal decision making. With each passing year, the digital marketing world uses a growing array of data drives the industry and helps firms make adjustments.
Without data, your firm will not be sure where its capital can be effectively utilized, or which campaigns will be in your best interest. Choose a digital marketing company that not only provides detailed reports but can also effectively explain what each of these metrics might mean.
Your business is much more than just some numbers on a spreadsheet—it is an entity of its own. One that has a complex and ever-evolving story behind it. As a direct result of the digital marketing era, it is now entirely up to you to control the narrative behind it.
Running an ongoing digital marketing campaign can help you begin developing a stronger sense of continuity, connecting the past to the present. This not only improves the strength of your brand, but it also causes potential investors to take your business seriously.
7. Reaching Global Markets
During a national economic downturn, it can be difficult to find new people to sell to. However, now more than ever, selling abroad has become significantly easier. With billions of people using the internet each day, your business can quickly reach a very large audience and help further your brand around the world.
Even if you feel there is no more room for your business to grow within its current market, now might be the perfect time to expand your horizons and look to new markets. A digital marketing agency will be essential for turning this dream into a reality.
8. Long-Term Planning
Lastly, your digital marketing partners will help make it significantly easier to plan for the future. As suggested, winning in the business world requires a long-term strategy. Rather than becoming consumed by challenges in the status quo, your business needs to be looking for new opportunities in the future.
This should include considering an SEO company to help during this economic downturn. There is no telling what the future will have in store. But, if we can be sure about anything, the future is one that is undeniably digital.
Mr. Paniello graduated from the University of Colorado where he earned degrees in Finance and Political Science.
Andrew specializes in content for Medical, Finance and Technology niches. In his free time, Andrew enjoys spending time outdoors, researching new SEO strategies, reading and writing philosophy, hiking and playing piano.
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