Why Businesses Must Embrace Marketing, No Matter the Circumstances
Have you ever wondered if a business you once frequented is still open? If you even have to ask the question, it’s probably because they stopped marketing.
Our team reviewed the recently released Niselsen’s Annual Marketing Report and the strategies it suggests are available to businesses of all sizes. We wanted to share with our partners, clients, and readers what it said and how they can adjust. In particular, this post addresses the issues of pausing your marketing efforts and how to combat them no matter your budget.
Simply put, marketing includes all the activities a company undertakes to promote the buying or selling of a product, service, or good. It is one of the primary components of business management and commerce, whether the company is selling to other businesses or consumers.
At the start of the pandemic, many brands did what they could to stay afloat. Budgets were cut, and with them, a lot of marketing went away.
More often than not, brands pull back on marketing when times get tough.
In the long run, this decision may have contributed to the closing of many businesses.
Marketing serves as the communications bridge between the business and its customers. Once budgets are cut, that communication ends and the ability to reach new customers, or stay top of mind with existing customers, ceases.
So what are businesses to do? Below are a number of methods that businesses can use to adjust their marketing strategies during challenging times, rather than stop them altogether.
For Companies With Small Budgets
- Customer Retention: Focus on customer retention to manage cash flow levels. Small businesses can exercise this tactic in various ways, such as offering special deals or promotions to revive interests.
- Use Data: Determine the most engaging forms of marketing, based on real data, and prioritize your spending there.
- Leverage MarTech: Find out which solutions can help your business reach audiences and optimize spending accordingly. MarTech tools can help you pinpoint what marketing efforts are most effective and provide recommendations across various channels.
White Shark Media offers small businesses an affordable window into Martech. PPC Campaign Audits is our PPC management software that allows your team to:
- Generate immediate account performance audits
- Identify opportunities for improvements
- Make insightful recommendations for Google Ads and Microsoft Advertising accounts
This tool empowers your team with valuable insights across all of your Google, Microsoft, and Facebook accounts. AdInsights will provide up to 30 performance-based recommendations and step-by-step instructions on implementing them, making PPC audits simple and effective.
Interested in trying it out? Audit your Google account and uncover insights to generate recommendations and opportunities. Receive a free PDF document that will help you find what is wrong with your PPC account and how to improve performance immediately. Get Your Free Audit!
For Companies With Mid-Size Budgets
- Customer Retention: Focus on offering their customers special offers or promotions to reconnect.
- Use Data: Leverage data to identify emerging industry trends and add insights to customer understanding.
- Adapt: Adapt ad copy, creative concepts and strategies to new trends and behaviors. Tap into different strategies that will connect with new segments and varying consumer trends.
For more technical conversations, learn about our reasoning from our PPC experts.
Share some of the latest Shark clips with your team to help them master either of the platforms that plan to leverage. Learn six powerful ways you can use to decrease the CPC of your Google Ads or Microsoft Advertising Campaigns!
For Companies With Large Budgets
- Brand Awareness: Continue to focus on brand awareness. Search engine platforms will prioritize the types of campaigns and channels that will help your business achieve this goal. A larger budget may allow your business to experiment more and try various channels to test effectiveness.
- Adapt: Continue to adjust your ad copy and ads to communicate your value proposition and offering.
Managed PPC services are available for companies with larger budgets. With more than ten years of experience, White Shark Media manages pay-per-click campaigns with Google, Microsoft, and Facebook Ads.
PPC moves brands forward by connecting them to audiences and generating leads. Efficient PPC can achieve objectives and provide custom solutions to businesses, agencies, and organizations.
Nielsen’s Annual Marketing Report points out that “When budgets get tight, brands often retreat and pull back on marketing, which can have negative ramifications in both the short- and long term. The pandemic remains a significant obstacle for many brands, but as recovery optimism grows, businesses of all sizes need to position themselves for future growth, and that includes engaging with new consumer groups.”
Marketing, independent of the industry, has changed and will continue to do so. Thankfully, the tools are in place to help advertisers to keep up.
Let our years in PPC contribute to your marketing efforts without cutting it altogether.
Source: Nielsen Era of Adaptation