It’s no secret that some industries take a hit during down markets. If you’re feeling the pinch, it’s easy to consider reducing your content marketing budget, but that’s a mistake. Content is an essential tool for businesses, and it’s important to keep content creation going, even during a recession. Here are four reasons why and some practical steps to take.
1. Keeping your pipeline flowing
Content marketing is all about momentum. Prospects still have buying needs during a slump, but they’re more careful about who they buy from and the information they require to pull the trigger. Don’t discourage prospects on the fence by going silent when they need your content the most.
2. Building and fortifying your brand
Your brand reputation is one of your most valuable assets, and you build it by establishing your personality in the market. Content gives you relevancy in your niche and offers the chance to educate prospects on your value. Once the dip is over, you’ll be the name on everyone’s tongues.
3. Improving client trust and loyalty
Delivering content that solves problems and answers questions goes a long way when everyone is pinching pennies. Offer actionable value in your material, and buyers will see you as a resource that boosts their returns on investments.
4. Outpacing the competition
Most companies tend to hold off on content creation during a recession, so take the opportunity to enhance your efforts and pass them by. Powerhouses such as Disney, Microsoft, and Google took calculated risks and kept forging ahead when the going got rough. In each case, their consistency in product quality and smart marketing paid off.
Practical steps to take
When you have to tighten your belt, take practical steps for solid, ROI-driven output. Live (or die) by ROI to design a new budget: After you trim legitimate waste, ruthlessly toss out activities that aren’t delivering the right metrics, but look at long-term trends and don’t bail on initiatives that had a brief dip. Double down on strategies that are working well. Position yourself as a thought leader by doing research into your field and offering your perspective.
Also, don’t forget to take advantage of your team as a content creation resource. Enlist others for help with brainstorming and writing articles to boost your volume. Show your target audience that you have their backs by talking about the things they care about. Repurpose old content with better writing, keyword placement, and visuals to drive traffic.
Whether you’re dealing with a global recession or local setbacks, solid content marketing helps you survive. Even better, it gives you what you need to thrive. Don’t follow the crowd and reduce your content marketing budget in a down market - it’s a step in the wrong direction.
Originally reported by Martech: https://martech.org/why-tight-budgets-mean-maximizing-content/
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