Right now, people are losing their collective marbles.
Coronavirus is gripping everyone with fever. Literally.
Oil prices are insane.
And the US Elections are nauseatingly occupying every social media timeline.
But what’s also happening is that there’s talk of a looming global recession (again). I say this because it seems we’re always on the verge of financial collapse.
What I’ve also noticed is that business owners are not just slashing marketing budgets. They’re pretty much killing them off.
And that’s just stupid.
“but sales are low, costs are high, we have no choice!”
You’re essentially taking your business from low sales to no sales.
Think about it.
Right now, you’re running some sort of marketing. You’re getting sales, albeit small numbers. But you’re still getting something because of your promotional efforts.
Why would you take your business down the path of no sales? I mean, do you really have that much confidence your business will be able to continue to bring in cash without marketing and advertising?
If you were that confident, you wouldn’t be in this mess right now.
But I digress.
I know a business that isn’t doing so well and they’ve had to cut their budgets by up to 80%. It’s ugly.
And their reasoning is that they can’t afford to run SEO and Google Ads like they used to because not enough money comes in.
They’ve now given their digital team a lot less money to work with which means results will be harder to come by.
Do you think this business will see out the year? It’s looking bleak.
So this is my point:
Don’t be a chump by slashing costs in the marketing department.
This is a typical knee jerk reaction that gets you short term results.
Sure, cut costs where it makes sense to do so – but look at increasing your revenue. Find new ways to make money.
This is also why I say to invest in SEO above everything else.
SEO is the cornerstone of your online presence and a good solid robust SEO strategy keeps working even if you turn off your advertising and in times of economic downtuwn. It just keeps going on and on and on.
SEO is forever. Your business should be too.
Get in touch, let’s talk SEO for your website so you can start making money again.
Otherwise, you might as well close up shop.