Wondering how you should handle your marketing during a recession?
If you’re anything like most business owners I know, you might be feeling a bit nervous upon hearing the ‘recession’ word. It can start to feel like everywhere you look people are telling you that we’re headed into ‘unprecedented financial times’.
So what’s a business owner to do?
First things first…
Don’t stop marketing.
What often happens during a recession is business owners get scared – and take a step back with their advertising.
They think:
“Oh, people are going to be struggling too much financially and my advertising campaigns will never take off!”
But the key to advertising during a recession is actually to double down on your marketing.
That’s right.
When all your instincts are telling you to hold back and give up – double down and keep going.
If you want to know exactly how to survive (and thrive) during these unprecedented times take a look at these three steps to advertising during a recession.
Play The Long Game
One of the most important things to remember about advertising during a recession is to play the long game.
What do I mean by that?
Well, the fact of the matter is, it’s going to take your audience a long time to do whatever you’re asking them to do.
Whether it’s signing up for your email list, scheduling a sales call, or buying a product.
People need time.
Especially when you are advertising during a recession.
Just last week I had a client email me and say “I’ve been on your list and seeing your ads for 18 months…and today I’ve decided to finally pull the trigger.”
18 months.
That’s a long time!
If I had gotten discouraged and given up on running facebook ads, I never would have made that sale.
And I’m certain that wasn’t the only client who took a long time to buy. Especially when you’re selling high-ticket products and services, the customer journey can be extremely long.
Stories like these are just such a good reminder that playing the long game actually leads to results.
No matter what is happening with the economy, don’t stop your advertising efforts.
Just be sure that in order to sustain advertising during a recession, you’re remembering to budget for it.
Don’t just dump $5000 into a campaign and then back out after a month without seeing any results.
Pace yourself.
Make sure your advertising budget is sustainable over a long period of time.
That way you can play the long game and master the skill of advertising during a recession.
Adopt A Multi-Channel Marketing Strategy
The next thing I want you to focus on when marketing during a recession is to make sure you have a multichannel approach.
I’m not saying you need to show up with the same intensity on Facebook, TikTok, Pinterest, Twitter, Instagram, LinkedIn – the whole lot.
But if you want to effectively advertise during a recession a multichannel approach is essential.
This doesn’t mean you should be spreading yourself too thin.
I recommend using the majority of your advertising budget on one specific platform.
Pick your favorite and master it.
My preference is Facebook when it comes to advertising, but any platform will do.
Devote 80% of your advertising budget to ad campaigns on that main platform.
And then the remaining 20% of your advertising budget goes towards retargeting purposes on other platforms.
Maybe that’s on TikTok or Youtube or even email marketing.
Email marketing is still the number one ROI channel after all.
So if you are committed to doubling down on your advertising during a recession, make sure you’re using multiple channels to do so.
Commit To Content Creation
My third tip when it comes to marketing during a recession is to stay really bullish with your content.
Whether you’re creating it yourself or having a team member handle it – your business needs to prioritize creating high-quality, high-value content.
Not only can you post it and reach clients organically – but you can also use it in your advertising strategy. Advertising dollars will always help your content reach your ideal clients, faster.
I think a lot of business owners start investing in FB ads and think:
“Phew! I can finally take a step back from creating content.”
And that couldn’t be farther from the truth.
Having high-quality content plays a huge part in your advertising campaigns.
Your content can and should be used in advertisements across all platforms, but especially email marketing.
Content is the best way to build that like, know and trust factor that ultimately leads to sales.
So making a commitment to creating top-notch content will also move your audience closer and closer to being converted by your ad campaigns.
And that just comes back to playing the long game.
Winning your audience over with your content *is* the long game.
And pushing that content out through multiple platforms takes care of the multi-channel approach.
So don’t skimp out on your content strategy.
Content is king when it comes to advertising during a recession.
With these three tips in mind you can confidently continue to advertise during a recession and dominate the market.
And if you are looking for even more ways to level up your Facebook advertising game – we’ve got just the thing.
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