Refocusing Your Marketing Budget to Where it Must Be
As economies slow due to rising interest rates, inflation, and reduced spending, higher advertising costs, lower conversion rates and lower revenues are just ahead. It’s sad, but you may lose some of your customers too.
The marketing techniques you used during boom times will be less effective. As we head toward 2023, increased competition, price cutting, service cuts, and bare bones service packages will dominate. Those companies used to excessive marketing spend will suffer reduced/lost staff, lower quality output, and an inability to buy leads.
Companies Reducing Ad Spend
eMarketer’s survey forecasts reduced ad spending ahead, suggesting advertising is less effective now. Advertising is experiencing difficulty in reaching relevant audiences ready to spend. And due to limited placement possibilities, ad costs are still very high. Money will move from advertising back to SEO as managers rework their marketing strategy.
During the last Covid downturn, ad spending jumped to try harder to reach consumers who obviously weren’t free to spend. This time, marketers look to back off significantly as consumer spending sours.
A Silver Lining to the Recessionary Cloud
These times of withdrawal and weaker commitment create opportunities for confident marketers. As an example, the stock market provides its best buying opportunities in these times where investors buy up cheap stocks. It’s the same for companies and marketing. This is the time to act.
If you weren’t competitive before, you’ll need professional SEO now. You know that already which is why you’re here now. Your doubt really is whether an advanced SEO consultant can achieve the results you need.
The answer is likely yes. With 24 years experience, plenty of big name and small businesses served including 4 agencies in the US and Canada, and an obsession with strategy, I can provide a sizable edge for you going forward. Clients hire me for in-depth strategy, passion for web promotion, experience, and to make this experience enjoyable, like an adventure.
With everyone else cutting back on promotional efforts and content decreasing in quality, your competition is weakening and disappearing. Their traffic will shrink and leads and sales revenue will sag. They’re taking themselves out of the picture.
Recommit to Your Top Producing Channel
Google provides the lion’s share of traffic and it’s free. What’s not free is the effort and skill to rank at the top and capture the massive levels of traffic you’re after.
If you have doubts about your unique value proposition, you’re not alone. Everyone has an inferiority complex about their UVP. Cast those fears aside. Visibility and perception win.
This means consumers choose companies and products based on the fact they:
- are highly and consistently visible online
- suggest they are of high brand quality
- show strong significance to them personally and solve their pain points
- are engaging and provide a feeling of comfort and good feelings
These factors are all within your control, so the fact your company/brand is rated number ten in your market means nothing now.
Yet with predicted spending cut backs, you need to focus your marketing dollars on what really produces results. That will be:
- advance search engine optimization
- high quality content development
- web analytics and content funnel optimization
- some paid advertising on vital keyword phrases
- enthusiastic social media engagement
Basically, you need to reinvent how you’ll do digital marketing. Improve your content and let SEO help power up delivery through all channels. Ads, email, social media, video, and PR all boosted by persistent exposure on Google search results pages. You must be there.
Quality, relevant and informative content is key. The content visitors and your online support audience want is timely, informative, relevant, persuasive, engaging and singularly significant for your audience. You don’t need the ultimate slick, best content, just the best they can find. And we can improve impact and engagement.
Professional Level SEO is the Best Investment
No prospect sources can outcompete Google search traffic. In most cases, Google supplies 80% of traffic while Bing, Yahoo and Duckduckgo contribute 5%. Google has earned trillions via their ad service, again showing how much advertisers prefer to be seen on Google search results pages.
And Google traffic is better qualified often actively searching for products and services and in a position to be influenced. My clients have enjoyed traffic in the millions. If you were to pay even 20 cents per visitor, the end value is in the hundreds of thousands.
The long term value (LTV) is where the big gains are. That’s important for any manager who wants to use the recession to power their success in the next ten years. If you’re already thinking beyond the recession, to winning your market, you’re an elite manager. Failing managers never consider the future.
Build Stronger Reach via Advanced SEO
Brand awareness, reach and constant exposure of your value proposition and messaging over years makes your brand a fixture, ahead of competitors with budgets 10 times what you spend.
The best way to power through the recession (if it happens) and build LTV is via professional SEO. Amateur practitioners don’t deliver the same overall benefit. SEO can delivered in a way that informs and magnifies the effect of your content, brand, and customer experience.
Search engine optimization is that important. When done well, value is delivered throughout your marketing mix. From boosting trade show results, to building topic authority and credibility, to powering every part of your sales funnel, it is the only activity that can power everything else.
Even your Google and Facebook remarketing ads are more likely to be clicked on and deliver customers. And the fact the traffic is free means you can experiment and learn more.
Don’t Cut Your Marketing Spend
What’s needed is to shift your marketing dollars to SEO and content development. Refocus and advertise to support your organic efforts on your website and social media channels.
If your SEO consultant is good, they’ll be able to tell you what’s wrong with your brand and UVP so you make some modifications to beat your big name competitors.
A professional approach is studied (digital marketing audit), measured, and commits to excellence in content and SEO strategy. Your big competition are distracted and fragmented. That’s why your budget focused can win.
Avoid issues with overthinking because that always end up back at the status quo. Let’s get into your project, rocket out of the status quo and gain a lasting advantage for unbelievable long term value.
Check out advanced SEO services now.
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