How to make your marketing strategy work hard during a tough economy

Guest Editorial •  Summer 2023

The UK’s current difficult economic conditions have seen companies having to stretch their marketing budgets or even cut them completely. Eyeweb’s marketing director has shared some vital information to keep your market strategy working for you during a demanding economy.

Marketing is often the first thing to be cut back when businesses have to review finances. However, now is the time to focus on any marketing assets that you have control over. Things like your website and SEO, social media, reviews and testimonials and sales materials work hard for your business. In the event of reducing marketing budgets, cutting things like paid advertising will see your website traffic and leads decrease significantly. Whereas your earned media, like social media and testimonials will always be there, generating leads and sales for your business.

Lock in any long-term contracts and outstanding leads in your sales pipeline. Also think about which industries are most affected by a downturn and how this affects your client base. If you can grow business in the public sector, contracts are already budgeted for and unlikely to be cancelled. This will ease your cash flow and allow you to invest in your business while competitors struggle.

Now is the time to thoroughly review your current marketing performance and spending. Which channels are performing well and worth investing in, and which channels have been sapping your budgets? Businesses stand to gain a lot if they are strategic with their budgets. For example, when others are cutting their PPC and advertising budgets, if you’re in a position to invest in these channels, you will get leads at a much cheaper cost than during more competitive times.

Bio –

Shaun Wyatt

Marketing Director

Eyeweb has over 20 years of experience of providing businesses with eye-catching and engaging digital marketing solutions to really get you noticed. To get some tailored marketing advice contact Shaun on shaun@eyeweb.co.uk or call 01482 628830