Invest Where Competitors Pull Out to Thrive Marketing in a Downturn

Social Media Wednesday, 29 April, 2020

Right now, traffic online is higher than it’s ever been, and ad costs are lower than we’ve seen in a long time.

Despite these facts, most businesses have reduced or even eliminated their marketing, creating a massive opportunity for serious marketers, because it has reduced the cost to advertise.

It’s a simple equation – demand is down, so the price is down.

It won’t last forever, though, so you need to capitalize on this opportunity by investing in advertising.

I want to point out an important detail here – just because you advertise, it doesn’t mean you’re going to start raking in new business overnight. In fact, that’s probably not going to happen.

The more likely outcome is that your increased advertising increases your brand awareness, which leads to customers reaching out to you, instead of one of your competitors, once things start moving again.

And along the way, this will give you a cost-effective way to quickly build a larger audience that you can get engaged with your brand and continue to market to in the future.

It doesn’t just have to be paid ads – it can be SEO, organic social, email…pretty much any marketing tactic.

Ideally, you want to invest specifically in channels where your competitors have pulled out because this approach is the most likely to have the best ROI thanks to the reduced cost and increased exposure.

But if you can afford to invest in other channels, it’s wise to leverage them as well.