These days, when you log on to LinkedIn it can feel bleak. Amidst economic uncertainty, many technology companies are slashing their expenses and cutting one of the most critical areas for generating business — the marketing department. From a reduction in staff to the overall budget, if you’re left trying to keep the sales and marketing wheels churning, you might feel overwhelmed, burned out, or at a loss for ideas. 

Whether you’re the last one left at your standing desk or trying to move marketing mountains with minimal support, you’re not entirely out of luck yet. If you’re staring out at the horizon wondering how you are going to get it all done (or what you even are going to do,) we’re throwing you a lifeline. 

For starters, don’t stop marketing

If your marketing budget, staff (or both) were recently cut, your leadership team may be tempted to stop or slow your marketing efforts.  You’re not alone. When a recession is looming many companies scale back on their marketing efforts, which ends up causing more harm than good. 

The proof is in the pudding. See what happens when companies continue or even ramp up marketing efforts during recessionary periods:

  • According to a recent Venture Beat article, in January and February 2021, VRBO spent $90.8 million in advertising, and Airbnb spent only $8.9 million. This resulted in a bookings recovery of 61% for VRBO, while Airbnb’s bookings dropped by 15%.
  • The How to Maintain Advertising Effectiveness in Challenging Times report by Analytic Partners reports that 60% of brands that increased their media investment during the last recession saw ROI improvements. More specifically, brands that increased their paid advertising saw a 17% rise in sales.

The lesson to help your leadership team understand here: You can’t wait until things improve to launch new marketing campaigns. 

As you know, marketing is a long-term strategy, not a one-time event. It is an ongoing process of building relationships and telling your story over time. You can’t just do it once, then walk away!

Start by looking for ways to optimize your team and current campaigns

Now is not the time to play possum, but instead, be proactive with your team to get the most out of the resources you have available. Start by doing a thorough review of all the marketing content you have already created, both what you have used in the past and what you are currently using. Look at the data to see what pieces and campaigns produced the best results, and then determine what you may be able to reuse or repurpose for another campaign.

Here at Content Matterz, we are big proponents of content repurposing. Check out our free ebook on how to make the most out of your marketing content, AKA The Turkey Dinner.

Reusing already created content not only save your team time and money, but it also reinforces your message to your current pipeline and reaches new audiences.

You can get more from your marketing budget by engaging with a marketing agency

A good marketing agency acts as your partner and can be a lifeline with tight budgets and overworked teams. Since marketing agencies have many resources and talent to pull from, they can jump in mid-stream and deliver results, as well as help you understand how those goals are being reached. In addition, they offer advice on how to improve your business and future campaigns. For example, at Content Matterz, we offer our clients strategy sessions that allow us to create marketing plans that will help them achieve their sales and revenue targets.

When it comes to finding a suitable marketing agency partner, keep in mind that agencies should help you focus on the right things to get more from your existing budget. Their value is not only in doing the work but in creating efficiencies while providing you access to a team of creatives at a fraction of the cost of in-house talent.

A true partner will understand how every asset fits together into your greater sales efforts and help you maximize your content to connect with the most potential buyers.

We will all make it through this together

Marketing is something that can make or break your business even during a recession, and there’s no better time than now to get help from the experts.

At Content Matterz,  we offer the right marketing solutions to ensure your marketing efforts bring results, regardless of the economy.