Reinventing Your Marketing Strategy to Thrive During Economic Slowdown
Flouring During Slowdown
During an economic slowdown, most people are making less money, so they also spend less. This can affect a large number of businesses, since the number and value of the orders which they receive may be lower. Depending on the cause of the economic slowdown, some industry sectors are likely to be more affected compared to the others. Though most business owners expect their revenues to reduce due to the slowdown or recession, if they have the right approach, they can flourish even during the slowdown. Read on to learn some of the marketing strategies that can help a business flourish even during a slowdown.
The Role of Social Media
Depending on the product or service which is being sold by a business, the profile of the customer will vary. Some businesses are selling essential items like food, grocery items, while others are selling luxury items. It is important to track the behavior of the customers during the slowdown, to adapt the marketing strategy accordingly. Instead of expensive surveys, social media is a very cost-effective method of tracking the behavior of the customers. Social media can show you how they are spending their time and the items they are purchasing. Gorilla Gurus can track social media profiles of specific customers for clients. This allows us to provide valuable insights into the behavior.
A business should also track the behavior of the visitors to the website and find out the kind of information they are looking for. These insights can help improve the conversion rate. Hence modifying the website design to include analytics software is important. This software will provide detailed information on visitor behavior, especially the pages which they visit often. The website design can also help increase the conversion rate. The experienced web designers at Gorilla Gurus will work closely with our client. We work to modify the website to include analytics and maximize the conversion rate.
Increasing Conversion Rate
During a slowdown, many people have limited funds so they do not want to take the risk of doing business with a new company. Hence it is advisable to focus on existing customers and find out what they are planning to purchase. This information is useful for search engine optimization ( SEO ) of the business website. As well as for generating more leads. The inputs provided by the existing customers can also be useful for content creation. Creating content for the website will improve SEO. Gorilla Gurus provides video production as well as content creation services, which will help in SEO and also convince existing customers to make repeat purchases.
Target Audience During Slowdown
The lead generation during the slowdown may be less. This is why the business should focus on increasing the conversion rate. For this, it is important to analyze the customer profile to find out how they affect the slowdown on consumers. In some industry sectors like healthcare, customers are not affected by the slowdown. While other sectors like travel and hospitality are adversely affected by the covid-19 pandemic. It is better to focus on customers who are flourishing despite the slowdown. One option is sending them mailers. Gorilla Gurus can provide graphic design services for the website as well as mailers and other printed products. We offer many services to increase the conversion rate, even during an economic slowdown. Contact us today to find out more.
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