Monday, January 30, 2023

How to propel long-term marketing success in a recession - Smartbrief

Last updated Thursday, January 5, 2023 18:05 ET , Source: NewsService

With economic uncertainty abound, it’s understandable that marketers have worries. Worries about meeting targets, keeping their resources and reaching customers with limited budgets.

But it’s not all doom and gloom.

Instead, this is an opportunity to try new things with reduced growth targets, to build loyalty by leaning into creating helpful content for your customers and to evaluate and determine which efforts truly make a genuine impact towards your organization’s success.

The key to successful long-term marketing during a recession is to see beyond short-term volatility and to lay the groundwork for long-term goals. That way, when markets bounce back and competitors are scrambling to evolve, you’ll already be ahead of the game.

How do you do this? By leaning into your top-performing channels, embracing a customer-first marketing approach, experimenting with new solutions and aligning your teams toward common goals.

Rely on your top-performing channels

Particularly during a recession, budget cuts are inescapable. However, by being strategic, marketers can maximize the spend they do have now to generate higher returns and set themselves up for a strong rebound in the future — even during times of tighter purse strings.

The not-so-secret secret: Rather than operating with a myopic lens centered only on short-term survival, invest with your long-term marketing goals in mind. Focus efforts on your highest-performing channels to help your business flourish during both the...

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