20 Jul Should you cut your digital marketing budget during a recession?
If you’ve turned on the news lately you’ve likely heard a lot of chat about the “R” word. And while the debate as to whether the nation is heading toward a recession, or whether there are ways that the US can still avoid it, remains lively, there are a few things that business owners will want to keep in mind.
For example, when deciding how and where to trim your operating expenses, your digital marketing spend should not be put on the chopping block.
In the early days of the pandemic, one of our team members had a conversation with a business owner in the Midwest. We’ll call him Jake. His company is one of many that operates in a very, very competitive field, where every single incoming phone call count. In this particular industry, when people call in, they’re absolutely ready to make a high-ticket purchase. Suffice to say- SEO rankings for these businesses’ website can make or break their bottom line.
When COVID-19 economic downturn took hold, revenues within this industry began to fall– and business owners began to tighten their belts. Many of them cut their digital marketing spend. Not only did this harm their SEO ranking, it absolutely hurt their bottom line. Jake, on the other hand, saw this as an opportunity. Instead of trimming is online marketing budget, he invested more money. His website landed at the top slot of Google searches, and his revenues wound increasing by a noticeable amount.
Online marketing experts you can trust
If we are heading toward a recession, it’s natural for business owners to wonder about what steps they can (and should) take to save money. We’re here to tell you that slashing your online marketing budget can do more harm than good. Remember- if your website’s ranking falls off the first page of Google, you won’t be doing yourself (or your business) any favors.
For more information about the reasons you shouldn’t cut your digital marketing spend during an economic downturn, or to learn more about how you can diversify your digital marketing efforts by investing in social media marketing (i.e., YouTube marketing, Instagram marketing, and influencer marketing, among others), content marketing, and other online marketing methodologies, we can help.
Call the experts at WBN Marketing today to receive a free, no-obligation consultation. What are you waiting for? Call our office today to receive your free SEO report.