Economists have been predicting a recession to happen soon, but no one expected it to be brought by way of a worldwide pandemic. With unemployment rates at an all-time high and stocks suffering, businesses have to acclimate to the changes fast to prevent bankruptcy.
Many companies are getting creative and adapting to the peculiar recession caused by isolation orders. For example, restaurants serve take out or pickup orders fully equipped with aerosols, brands are selling customized sanitizers and face masks, and media companies are providing discounted services or free online tutorials.
Every business is different, but one thing remains universal – email marketing offers a huge benefit to nurturing leads and increasing sales.
So let’s say your business has already started modifying to the recession, how do you now maximize your marketing automation potential during a down economy?
First things first, it’s advised to make a recession marketing strategy before stocks fall. Companies with pre-established backup plans won’t be hit as hard as unprepared businesses. Nonetheless, most recessions aren’t associated with deadly viruses, which means we’re all in the same boat when it comes to acclimating to a different way of life. Even if you haven’t made a plan, it’s not too late to start using digital technology to your marketing advantage.
Tip #1: Don’t Eliminate Your Marketing Budget
One mistake many business owners make is immediately cutting their marketing budget the moment times start getting tough. This can help in the short term, but in the long term your business is losing brand recognition. Brand recognition is important for establishing trust and transparency. If your customers don’t see any brand presence, then why would they keep using your services or products?
Specifically for the coronavirus epidemic, marketing is more important than ever. Why? Because people are stuck at home. Social media and phone usage are at an all time high, so take this opportunity to use your marketing platforms in creative ways.
Most companies are sending out COVID-19 update emails, although these are important, such emails are not the only way to engage customers. Now more than ever, people want to take their mind off constant virus news and updates. You can do something fun like create quizzes, interactive surveys, email memes, or special sales for medical employees.
Tip #2: Use an Affordable Marketing Agency
Whether your emails take on a more serious tone or #makelemonade of the situation, you’re going to need a marketing budget and team to keep implementing campaigns. Email marketing is a good investment, not matter how much you’re willing to spend. If you’re tight on funds, contact Reas Marketing to do the work for you. We can create a custom and affordable marketing automation plan to suit your needs. And as an added bonus, the first 30-day trial is free!
Tip #3: Focus on Customer Loyalty
Loyal customers are the cash cows of any business. Analyze their spending habits and consumer changes during a recession. Communicate with them regularly and offer reward programs or special discounts for their support.
Tip #4: Post on Social Media
Another marketing area to emphasize is social media. The statistics don’t lie, shelter-in-place has increased social media engagement. Instagram #ad posts have seen a 76% increase in likes, and TikTok experienced a 27% increase in user engagement from February to March.
What does this mean for email marketing? It means if you haven’t already synced social posts to your emails, then now is the time! This means adding the social icons to the bottom or top of each email, referring to social media campaigns on emails, and linking back to Instagram photos or YouTube videos for product promotions. If you’ve never encouraged your followers to subscribe to your emails, right now is a good opportunity to bring the sales funnel full circle.