IKEA, H&M and Coca-Cola are three examples of companies that do not touch their online marketing during recessions. Perhaps because they have quite large muscles, but also because they have ridden out storms before. While other companies choose to follow each other’s example and reduce the marketing budget despite the research’s advice to the contrary : to maintain or even increase the budget for online marketing during bad times.
What does Mild say about online marketing in times of crisis?
– I understand the concerns today, says Pontus Arvidson, Head of digital marketing at Mild, referring to COVID-19.
– But at the same time as solving the short-term problems, you have to, for the sake of both the company and the staff, plan for a time after the crisis. A time that will come.
In a recession, it is common for companies to review their marketing budgets.
– It is important not only to cut costs, says Pontus, but also to make sure that the money you actually spend ends up in the right place. If we look specifically at digital marketing, in more challenging times it becomes important to redirect efforts to be more adapted to the current situation. Questions you can ask yourself are: should we focus on other types of customers right now?
Or might other channels for our online marketing be more beneficial to work with to find stakeholders?
Companies that dare to invest in their online marketing in worse times have a fantastic development in the long run, historically speaking. When some brakes, opportunities are created for other companies to be seen more.
– Often at a lower cost, says Pontus, as competition decreases at the same time. We at Mild help our customers not only survive economic downturns but also gain market share, which is usually easier to do under these circumstances.
A problem for many marketing managers, when they have to argue for their budget, is that they find it difficult to show exactly how much sales each invested kroner brings. With the right tracking and set up of channels, it is possible to track the return of online marketing to the decimal.
– At Mild, we accurate mobile phone number list have the opportunity to track every kroner, from A to Z. The goal is of course that all investment should return more even in times of crisis.
The advice available on digital marketing in a declining economy
A positive attitude makes all tau tsom rau yog tsim the difference during a crisis. Many solutions come from within, especially from within a fearless leader who looks ahead. Which uses the methods available. Who see the opportunities to build on their brand in a boom, when online marketing is often cheaper and many people long to see, hear or talk about something else. Than, for example, corona.
And we promise: that was the last time we mention the ossified virus in our article.
The advice on online marketing in recessions is found in many places and is similar. To make it easier, we’ve boiled them down to a collection of bullet points. Take the time to read through each point and ponder them. How can you as a company put the advice about your digital presence into practice?
Maintain or increase your online marketing budget
Both the domestic and global aqb directory markets are refurnished during a crisis. Actors with delivery problems, travel bans and so on are low with their online marketing. Then they have also usurped a big lead. The online marketing budget can be defended on more points than that. Among other things, that digital marketing
– is measurable, which means that you can more easily see what it gives for every kroner invested
– is relatively cheap to run
– can be targeted at specific target groups
– is easy to redirect if necessary
