Why you shouldn't give up marketing during the crisis
Updated: 23th September 2022
Reading time: 4 min
Covid-19 pandemic has caused considerable confusion on the market. Many entrepreneurs, for fear of the crisis, tighten their belts by reducing marketing budgets or completely giving up promotions. Such a strategy usually turns out to be fatal. You can find at least a few reasons why you shouldn't give up marketing during the crisis. In this post, we'll look at a few of them and show you how to reduce costs while gaining new customers.
You will avoid trouble
Lower marketing expenses means fewer new customers. A smaller number of new customers means lower revenues, and therefore an even smaller pool of funds for marketing.
By resigning from promotional activities you will easily fall into a spiral that leads to bankruptcy. Of course, this is a black scenario that may or may not become a reality. However, it can certainly be said that if you neglect marketing activities during a crisis, it will be difficult for you to get out of the hole.
It's easier to reach the recipients
When others reduce budgets or freeze campaigns, your message may be more visible. If everyone around you limits your marketing efforts, the number of messages that reach the average user decreases. Therefore, you can treat the crisis not only as a threat but also as a chance to stand out.
You can count on reducing costs
When competition reduces spending on promotion, companies offering advertising space and marketing services lose many customers. Therefore, they are often forced to lower prices. For you, it is an opportunity to negotiate favorable terms of cooperation.
By negotiating good rates with partners, you have the chance to reduce the cost of acquiring a single customer. In this way, even with a lower budget, you have a chance not only for survival but also for further development.
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Marketing in a crisis - how to reduce costs and not lose?
Analyze your marketing strategy
First of all, you should analyze your marketing strategy in terms of costs. Check which activities have the worst cost-effect ratio.
Give up those activities where the cost of acquiring one customer is the highest.
Consider not how much you spend, but the cost of acquiring one customer. Let's say you have a 2-channel campaign.
In the first of them, it costs you only $500 a month, but you get only 10 users from it, you pay up to $50 for one new customer.
You spend $1000 on activities on the second channel, but thanks to it you gain 100 additional customers, so the cost of acquiring a customer is only $10.
Therefore, it is better to reduce spending on a campaign in the first channel, although in absolute terms it costs you less, the expenditure does not translate into large profits.
Social Media
Another way to successfully marketing at low cost is to use social media. Creating a company profile costs nothing and brings many benefits. It helps to reach new customers and, above all, enables effective communication with clients.
By publishing interesting content, you will make users happy to comment, like and share your entries. Thanks to this you will reach new recipients without incurring additional costs.
Write a blog
Creating interesting and engaging posts on Facebook or Instagram is one of the elements of content marketing. Using content marketing tools will not only reach your audience more easily but will also make them search for them and share them with friends.
A company blog is one of the most effective and low-cost content marketing channels. Thanks to substantive and interesting entries you will attract new users and your website will gain in the eyes of Google robots.
Viral marketing
Creating viral content is a challenge. Most of these campaigns are lost in the jungle of advertising messages. However, if you manage to create a really surprising message, you can reach millions of users on the Internet with minimal costs. That's why it's worth spending time and resources creating content that could potentially become viral.
Conclusion
The crisis is not a good time to limit marketing activities. In difficult times, the fight for customers becomes even more important. However, you need to think carefully about the strategy and choose the most effective channels, thanks to which you will not only effectively reach the recipients, but you will do so with minimal costs.
One way to successfully promote at low cost is to set up a website with WebWave. Thanks to our website builder you can easily design a website and publish it on the Internet.
What's more, you won't pay a penny for just creating and publishing your website. The Premium Package, which allows you to give your site the address you choose and to effectively promote your site on the web, will cost only $10 net of tax per month. Try the possibilities of our wizard and create a website for your company today!
Author: Jan Chmielowski
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