Creating a digital marketing strategy for a recession starts with the basics - fortify your foundation before you spend a penny on advertising.
There have been several posts saying that during a recession “marketing and advertising should be your primary focus,” we are going to be a little contrarian and say this is the 4th thing you should focus on.
In a recession, consumers are more conscious of how they spend their money. Because of that, they spend more time researching their purchases, especially when buying online. As the consumer researches the purchases, your foundation becomes the consumers deciding factor.
Your first step in rolling out a recession strategy should be evaluating and optimizing your foundation and then build a marketing plan on top of it.
Your Foundation = Product + Consumer Experience + Employee Experience
Product or Service: Without a good product, you are lost.
Consumer Experience: How do you treat your consumers? Do more than sell them a product - create value around the product. Help them, give support, check-in with them for feedback on how you can improve their experience.
Employee Experience: How do you support your employees? They are your direct connection to consumers and how they feel about your company is reflected in their interactions. An employee who feels valued answers their emails a little quicker and will take the extra step - this is your differentiating factor.
These three things should always be the foundation of your marketing, especially during a recession.