Marketing During a Downturn

/ Learn / 2 minutes of reading

I blatantly stole this list from the excellent Today in Digital Marketing email newsletter. Too handy not to share:

1. Retention over Acquisition

  • Email Marketing: Send personalised, exclusive offers to your subscribers to make them feel valued and appreciated.
  • Social Media: Share user-generated content, respond promptly to customer inquiries, and use social listening to stay on top of customer concerns.
  • Loyalty Programs: Offer rewards, discounts, or exclusive access to loyalty program members to encourage repeat business.

2. Work on Your Web Site’s CRO

  • Streamline Navigation: Make it easy for customers to find what they’re looking for by simplifying your website’s navigation and reducing clutter.
  • Page Speed: Aim for a page load time of under 3 seconds to reduce bounce rates and improve conversion rates.
  • Checkout Process: Reduce friction in the checkout process by offering guest checkout, saving payment information, and providing clear shipping options.

3. UGC and Influencer Marketing

  • UGC Campaigns: Encourage customers to share photos or videos of them using your products by offering incentives, such as discounts or free products.
  • Influencer Partnerships: Partner with influencers who have a genuine interest in your brand or products to promote your offerings to their followers.

4. Data-Driven Decisions

  • Track Key Metrics: Monitor metrics such as website traffic, conversion rates, and customer acquisition costs to identify areas for improvement.
  • A/B Testing: Test different subject lines, ad creatives, and landing pages to determine which variations perform better.
  • Segmentation: Segment your customer base to create targeted marketing campaigns that resonate with specific groups.

5. Offer Flexiblility

  • Financing Options: Partner with financing providers to offer customers flexible payment plans.
  • Bundle Deals: Offer discounts for bundling products or services to increase average order value.
  • Free Shipping: Offer free shipping on orders above a certain threshold to reduce cart abandonment rates.

Adapt this to your industry and situation

Some of the things in this list will be very relevant, others not so much. But can you see the general theme here?

  1. Look to your existing customer base instead of acquiring new ones
  2. Make it easy for them to purchase

Kinda simple when you put it like that, isn’t it?

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