Coronavirus or COVID-19 has the entire world in its grips. In an instant, it has changed the way we live our lives and how businesses are operating. In India, industrial companies feel the brunt of this recession and are forced to rethink the way they do business. Companies that are determined to grow their business in these uncertain times need to invest in Digital Marketing efforts even more now. Even if Industrial companies can pivot to meet the changing production and supply chain challenges, are they doing the same with changed consumer behavior and Digital Marketing during a recession? Earlier recessions have shown that companies that continued their marketing efforts thrived and scaled up their businesses. The past three months have shown us that consumer behavior has changed with the health crisis. Now is the time for Industrial companies to harness Digital Marketing and Advertising’s power to refine their website, write blogs, and create helpful content for their customers. Brand visibility will help companies pull their target audience towards their company when not many in their niche are doing it.
What digital marketing strategies can industrial companies use during a recession?Here are 5 Digital Marketing Strategies you can use during a recession:
Don’t randomly cut the spending on your Digital Marketing efforts
Do an audit of your Digital Marketing efforts
- Create a checklist to see where you currently stand in terms of digital technology adoption.
- Work on your website and check for pages that need enhancements/corrections.
- Improve on your middle of the funnel and bottom of the funnel content.
- Clean your database of contacts
- Stay connected with your customers and prospects through email marketing
- Create content focussed on the core competencies of your business. Take this time to close content gaps on your website.
- Align your Marketing and Sales teams. Since the sales team is on the frontline handling customers, they would listen to customer anxieties and problems. Marketing needs to work together with sales to respond to customers’ needs and inform them how your company moves forward in the changing economic paradigm.
Stay connected with your current customers
Keep your eyes firmly on the metrics
Monitor buyer behavior
Rework on your Buyer PersonasYou will need to tweak your buyer personas to understand your customers’ changing behavior and respond to both the economic and health crises.
- How has the recession changed their pain points?
- What are they searching for during this economic crisis?
- What do they value now?
- Has this changed scenario opened up new markets for your company?