No one knows exactly how or when it will arrive, but the truth is that the economic crisis could knock on the doors of a weakened economy like ours, with a growing level of unemployment and a pandemic that exacerbated a depression that had already been felt for years. and that threatens to further harm established businesses as well as emerging ones. But how can I really ensure the sustainability of my business while still investing in advertising?
One of the most dangerous strategies a company can take is to curb investment in advertising, and this is often one of the most common and damaging actions. Deciding like this can lead to a loss of visibility in the market, in addition to the fact that it is likely that it will not be able to reinsert itself so easily in it, since after isolating itself it is more difficult to return to the rhythm that it previously had of participation in it.
A popular saying goes: when times are good, advertise, and when times are bad, keep advertising.
According to Muslim Ad Network (2020), McGraw-Hill Research investigated 600 companies between 1980 and 1985. They found that companies that maintained or increased their advertising spending during the 1981 recession achieved sales 256% higher than those that did not. in 1985.
And is that for our business to continue growing, it is necessary not to reduce advertising expenses, but rather to take advantage of the resources that are at hand in the most effective way possible.
How can you invest in advertising on a budget? The key is planning.
Plan:You can have a lot of money to invest in advertising but if you’re planning and strategy is misdirected, you cannot count on concrete results. You must first project a schedule of your strategy for the following months in which you plan to carry out your campaigns, considering important dates either for people or for your business and holidays in general.
Check your buyer persona:Your buyer persona may have been affected by the crisis. Find out how you can help him face this situation and if necessary, restructure stages of your conversion paths so that you can better adapt to the situation. Do not put aside their main pains but focus mainly on how you can help them so that you can maintain the relationship of trust that you have been working with them. Remember that if you are present in the most difficult moments of your clients it is when they will most recognize your contribution. If you want to know more about buyer persona, visit: How much do you really know about the people who buy from your business?
Segment your buyer persona even better on social media.
Remember that you have a limited budget. An effort you must make to find who your potential customer can be is to segment even better by turning off your prospects in order to be able to capture the specific people you want to convert into customers.
Focus all your advertising efforts on specific conversion paths.Never of the never publish ads without specific conversion paths. In these times when you most need to be able to generate concrete traffic to your website, landing page, promotions, etc. Make sure that all your posts contain the necessary links or buttons that you need for your prospect to navigate properly within your site.
Control your spending more through Business Facebook and tools like Hubspot.
The Ads Manager tools have improved to the point of being able to get clicks for really low prices, with some tips such as Creating Inbound Marketing strategies in Social Networks along with offers that can improve the conversion of leads can help you in your strategy to convert for the lowest possible price to the largest number of potential buyers.
The ease that you can have with a tool like this is that you can analyze which channels your strategy is working best through, which social network you are having the most interaction with, and filter by dates which have been the most successful publications of all your social networks.
Measure your ROI regarding investment in Ads in times of crisis:
One of the greatest conveniences that Hubspot allows you to see is that you can calculate your ROI through this tool. It is very important that you can calculate this since you are saying that you have invested time, perseverance and effort that must be measurable in some more practical way, but if you still do not know what the ROI is and how to calculate it, here we leave you a reading: The Secret to obtaining ROI in your marketing strategy and to be able to put it to work in your Hubspot account is very easy, you just have to follow the steps indicated in the user guide.
As you can see, you will lose a lot if you stop investing in advertising for your business. The important thing is that you can use your resources well and maximize the use of the tools you have at your fingertips.