During recession time, businesses are very careful in balancing both the business existence and as well as business growth. Many companies tighten their marketing budgets to minimize the wastage of the funds. In the process, obviously they implement cost cutting measures. But At the same time, it cannot be ignored to invest in marketing wisely to get more results for less. In these circumstances, ‘what could be the efficient way to reach out the potential customer?’ is a million dollar question for you as a business person.
Let’s see what most businessmen do. Generally, they look at various mass media vehicles to promote the marketing message, comparing them, doing cost benefit analysis etc. Here, they don’t even think about any alternative other than mass media because, they incorrectly perceive that nothing exists beyond mass media. Obviously, by making this mistake, they deliberately ignore that mass media is only successful when everything is good, when market forces are favorable and when the customer is able and has intend to buy their product. It is sensible to recognize that in a recession time or when there is no demand, mass media does not work. The cause for this is mass media focus more on targeting mass people rather than focusing on targeted people i.e. potential customers.
During the recession time, people are very careful and do thorough research before they buy. In these circumstances, implementing Internet marketing tactics like Search engine optimization (SEO) is a wise man’s choice. Search engine optimization (SEO) can help you out here in making people identify you, when they are looking for similar products that you offer with out burning your pocket.
How SEO Can Best Use Your Marketing Budget in Recession Times- Mass media advertising is inferior to Search Engine Optimization and PPC for the following reasons-
- In mass media, you can’t measure which paper ad or a TV ad endorsed by a celebrity inspired how many people and making them purchase your product.
- Mass media fails to specifically target that segment of the affluent customers, who are both intent and as well as able to buy your product. They waste a considerable amount of resources to make you visible to the potential customer.
- As it is in the name, mass media can only give a message to a crowd, where you don’t know how many of them are looking for your product. It is not possible to segment and target a specific person who is a potential customer.
- In mass media marketing, there is no guarantee that even if you spend more on ads, you will get more sales from that. Mass media is vaguer and cannot claim that this specific sale happened because of this ad.
