What Marketing to do in a recession?...
One month ago, the UK was officially announced in recession and although this sounds really scary, the truth is the economy is ‘unprecented’ and a recession can affect us all differently. With that in mind, and to give you some more upbeat news, this blog post aims to help you firmly position your business into the market and restore your confidence.
Whilst you are probably considering reducing your marketing spend, we would 100% advise against it. If anything, it would be a good idea to increase marketing spend. This doesn’t necessarily mean spending on the same marketing as before, but more changing and adapting with the times. To understand where to invest your budget, firstly you will need to look at your insights & analytics to understand where your customers hang out and what platform it is worth you invest time and money in to.
What insights & analytics should you be looking for?
1. Google Analytics
This platform provides valuable insights that can help shape your business success strategy. It allows you to study your online business as a whole and helps you better understand your customers behaviour, in terms of; What traffic source they have come from, what geographical area you are targeting, What social media platform is performing the best for you, What landing pages are the most popular and the amount of time customers are spending on your website.
All of these factors are essential knowledge to growing your business and ensuring that your online presence is working to it's best ability.
In addition to Google Analytics, The G+ Suite also includes; Google Adwords and Google My Business. The Google My Business profiles are fantastic insights on your search presence and understanding how customers are finding you. Google Adwords are relevant if you wish to pay Google to rank your website higher, or if you wish to carry our retargeted marketing (you know the cool stuff, when you visit a website and then the item follows you around the rest of your internet journey!?)
Google Analytics will help you discover what changes you need to make and is definitely the most comprehensive tool.
2. Social Media
All Social Media platforms have their own built-in analytics and on a monthly basis its good to take note of your performance, to both compare against previous months and to also see what needs tweaking for better results. The functions you should be looking for are:
- Number of followers/ likes you have (how much has this increased from last month?)
- Post Engagement
- Post Reach
- Post Comments
By searching for this data, you will understand what social media platforms work for your business and ways in which you can improve other platforms. It will also give you a good indication on the type of content your customers typically prefer.
Look through your email system and take note of the email templates you have sent out, how many customers have opened it, how many emails have bounced, how many customers have unsubscribed and what was the click through results on any links you included?