Marketing in a Downturn: Seeking Success in Challenging Times
Practicing Flexibility When It Matters Most
When the market fluctuates, so do users and advertisers. You’ll likely hear many advertisers say they’ve accounted for unpredictability in their marketing strategies, but what happens on the backend to get to those decisions? How do advertisers know when to make a shift, stay steady, or completely pivot from their original plan?
With constant movement in an ads market, it can be difficult to say for certain how one ad/keyword/campaign will perform compared to another, but by relying on tried and true expertise about how to ride out the storm, you give your business and branding much more leverage to conquer the ad space around you.
Marketing is heavily considered to be an all-encompassing feat; you don’t just have paid avenues to consider, but every aspect of how an individual might interact with your brand prior to them making the decision to convert. That’s why understanding and utilizing every tool at your disposal can have such a positive impact on your journey to getting your name in front of the right people at the right time.
Paid Marketing Still Has A Name In The Game
While it is true that in an uncertain market, it might feel safer to keep your dollars close to you until some stability finally comes around, but sometimes playing the safe game - especially when it asks you to remove your presence from the market - can be more detrimental in the long run.
Recent Questions from our Clients
What can I do to stay relevant to what users are looking for?
For most businesses, maintaining a solid and strong marketing presence can be one of the best ways of remaining relevant and competitive in a downturn market. Make a plan for fully understanding what your business needs are, how different marketing channels can help fulfill those needs, and who you are looking to target. The more you know about your ideal customer, the better you can tailor your advertising to what they may be looking for or feeling.
Will I need to scale up or back during these times?
Typically, scaling up or back during a downturn comes down to important specifics like: what budget will maintain competitiveness while simultaneously being sustainable for your business? Who are your competitors and how much of the market are they currently taking up? What are the behaviors of the people who are converting with you, and does your marketing strategy optimize getting in front of those people? The answers to these questions will be unique to every business, but asking them will lead you down the right path of creating a holistic marketing plan.
How is user behavior affecting my ads campaign?
During downturns, user behavior can feel erratic, especially when you are used to seeing a steady stream of conversions coming in. The best way you can assess the changes between users and your ads is by paying attention to the smaller details that make up a campaign. Are your ads resonating with your ideal audience or will you need to tweak the language you’re using to stay relatable? Are they spending enough time on your website to feel an initial connection with your business? What searches are your keywords being matched to and do they align with your services?
Why should I stay with Google Ads over other platforms?
When it comes to a Google Ads auction, the best information that we can rely on is that users who are searching on Google for products or services have a level of intention behind what is driving their search. Unlike platforms like Meta ads that push more focus towards brand visibility and awareness, the searches coming from Google users are done with purpose, even if they are still in “shopping” mode. This gives you leverage to utilize their intent and advertise with direct purpose.
Are there any other things I can do to help my ads campaign?
Community outreach and brand awareness are key components of maintaining visibility during a downturn. Most businesses will look at marketing as the first place to cut expenses, but with shutting off marketing efforts comes removing your business from the market and potentially losing out on users who will need your services in the future. Being “top-of-mind” when people are ready to commit to a conversion can be a game changer in a market where less people are meeting that criteria.
How RevKey can help
Here at RevKey, we want to create an open and honest space where our advertising clients feel validated in their marketing decisions, secure in their ads markets, and ready to tackle any hurdle that comes their way. We keep our eyes and ears open to any possible market or platform changes or trends so that you can focus on the thing that matters: running your business.
At the end of the day, a market downturn typically means one thing - that there will come a point when we begin to see the upturn. By maintaining steady marketing throughout the good times and the bad, you’re demonstrating to users that you are ready and willing to to help them at any point they may need it.
