It’s a challenging time for businesses everywhere. In times like these, it’s a good idea to take a step back and gain some perspective. The economic situation will improve, and the businesses that move to increase their online visibility will be in the best position to profit during the recovery. According to a report by Bain, the companies that avoid cuts during recessions are shown to profit the most when good times return.
So, what can you do to drive growth while other businesses are scaling back?
1. Prioritize SEO for Visibility in Search Results
People are spending more time at home, and that means they are spending more time online. Research shows that web traffic is up 25.4% when compared to last year, with online transactions increasing 42.8%.
Now more than ever, it’s vital that your customers can find you online.
Search engine optimization (SEO) should be a priority. You should be doing everything you can to increase your online visibility and make your business easy to find online.
2. Take Advantage of Cheaper CPC in PPC
While SEO is a longer-term strategy, pay-per-click (PPC) offers an immediate opportunity to get in front of people spending increasing amounts of time at home.
Research shows that the average cost-per-click (CPC) has dropped due to the coronavirus situation. Google Ads are 9% cheaper when compared to pre-Covid prices, while Facebook Ads costs are down 12%.
This is an excellent opportunity to take advantage of lower advertising costs and increase your market share while other businesses scale back. Check out our Google Ads best practices to boost the ROI of your PPC campaigns.
3. Increase Social Media Marketing
With people spending more time at home, it’s no surprise that social media usage has seen a significant increase. According to a recent study, Q1 2020 Instagram Ad impressions are up 22% on Q4 2019.
It’s tempting to blast out messages, but you should avoid posting the same old promotional posts. Focus on publishing posts that deliver value to stand out from what everyone else is doing.
If your post doesn’t inform, educate, or entertain, it will struggle to make an impact on social media.
4. Don’t Neglect Local SEO
People are shopping more online, and when they do go out, they are looking for stores and services that are close by. Local SEO optimization increases your online visibility for “near me” search queries and makes sure your customers can find you on Google Maps and in online business directories. With more people shopping locally, it’s vital that your customers can find your business.
5. Avoid Any Knee-Jerk Reaction
With so much doom and gloom in the media, you can be forgiven for panicking and thinking that you need to tighten your belt and cut costs to keep your business afloat. That’s the worst way to make decisions. You should take stock and look at all the available information to make an informed decision.
When it comes to your digital marketing, look at your data and performance metrics before you make any decisions. Internet traffic is up, people are spending more time on social media, and advertising costs are down.
If you take a strategic approach to fully utilize your marketing budget and avoid any knee-jerk reaction, you can use this time to increase your online presence and grow your business.
Prepare for the Bounce Back
This is a critical time for your business, and it’s important to look at the facts. The economy will recover. People still need to buy products and services. Homeowners and businesses still need what you provide.
Internet more than ever before will continue to be the place to find solutions, services, and products. By expanding your online presence while others are shrinking theirs, you can strategically drive your business forward and be in the best position to profit now and when the good times return.
