Recession-proofing your business is crucial for survival and growth during economic downturns. While it’s natural to want to cut back on expenses during tough times, research has proven that businesses that invest in marketing during recessions are more likely to come out ahead once the economy rebounds.
Digital marketing allows businesses to reach a wider audience quickly, cost-effectively, and with greater accuracy compared to traditional advertising methods. Digital channels provide opportunities for personalized connections with your audience and foster relationships, which is more essential than ever during challenging economic times. It also enables businesses to pivot quickly and capitalize on new opportunities by enabling real-time tracking and measurement of campaign effectiveness, allowing for contact adjustment and optimization.
BRIDGE’s people-based approach to digital advertising ensures our clients are reaching the right people at the right time. Our unique data connects businesses to REAL people wherever they are, across all media channels, with complete transparency, and we will work diligently to optimize their ad campaigns and ensure no ad dollars go to waste.
Below we will cover helpful tips on how to recession-proof your business.
1: Develop Strong Relationships
As customers are more likely to be cautious with their spending during this time, it’s essential to make sure that they feel valued and appreciated. This can include going above and beyond in terms of customer support, offering personalized recommendations or discounts, or simply taking the time to listen to their needs and concerns.
Keep in mind that your ads should display empathy. Rather than thinking solely about how to promote your business, turn your thinking into how you can help others in this difficult time – how can your business bring value to your audience? Show clearly how your brand solves a problem or satisfies a need your audience has.
BRIDGE has an extensive database full of real, verified consumer profiles and will match our consumer insights to your business goals to make sure you’re reaching your true buying audience and gaining the most conversions from your ad campaigns.
2: Focus On These Channels
In challenging times, email, video, and social media advertising emerge as the most cost-effective digital advertising channels. Here’s why:
Email Marketing
With 99% of consumers checking their email at least once a day, email marketing is an important and necessary part of any digital marketing strategy. Sending emails to a large customer base is relatively inexpensive compared to other advertising channels. It allows businesses to communicate directly with their audience without incurring significant costs and nurturing customer loyalty.
BRIDGE’s email capabilities enable businesses to segment their audience based on the demographics, behaviors, and past purchase history of the real people who make up their target audience. We analyze real-time data, test core performance metrics and optimize performance to achieve the highest deliverability to consumers. BRIDGE will help you with each step of your email marketing campaign from audience creation, creative management, email delivery, and optimization.
Video Advertising
Videos have the power to captivate audiences and convey information more effectively than other formats. They allow businesses to showcase their products or services creatively or tell a compelling brand story. Video can be easily distributed across various platforms, including CTV/OTT, display, and social media. This versatility ensures wider reach and the potential to go viral, generating organic visibility for a business even with limited advertising budgets.
Our video advertising capabilities ensure boosted brand awareness and increased conversion rates. BRIDGE offers more precise audience targeting as we know who’s consuming video ads, through which channels, and on what devices. Our streaming video ads achieve high viewability and a 90% completion rate on premium display and mobile inventory.
Social Media Advertising
Social media platforms have billions of active users worldwide and have become integral to people’s lives, offering businesses an opportunity to reach their target audience directly. With options like pay-per-click or cost-per-impressions, companies can control their costs and optimize ROI. They also facilitate real-time communication and engagement with customers, allowing you to address customer concerns, provide support and gather feedback all while strengthening brand reputation.
BRIDGE always ensures our client’s social media ads are only shown to the real, verified people who make up your target audience. We provide comprehensive analytics into campaign performance as well as a team of experts who will devote themselves to fully understanding each business’s campaign goals and building a custom audience based on your needs and offerings.
3: Learn More
By combining these best practices with digital marketing and other strategies, businesses can significantly increase their chances of weathering a recession and emerging stronger on the other side. While it can be challenging to navigate economic uncertainty, working with BRIDGE and taking proactive steps to recession-proof your business will help ensure that you’re prepared for whatever challenges lie ahead.
You can rely on BRIDGE to be your trusted people-based advertising partner. Let us work with you to optimize your digital marketing campaigns and make the most out of every dollar spent. Reach out to a member of our team and see how your business can not only survive but thrive during even the toughest economic times.
