Digital Marketing, Digital Marketing Strategy, Social Media for Small Business, Social Media Strategy

Digital Marketing Strategy in a Recession

Bottom Shape
Digital marketing in a recession

Krista Neher

Sep 08 2020

Businesses are beginning to tighten their belts as uncertainty is looming. This means that your strategy is more important than ever. You can’t afford to waste a penny, and everything you do must be strategically working towards your goal.

Focus Your Digital Marketing Strategy

The first thing you need to do is focus your efforts. I like to use the analogy of watering a plant.

I can set a sprinkler up on the other side of the room, and sure, some of it will get to the plant. But a lot of the water will end up wasted on the ground. Or I can use a water gun and laser focus my aim where 90% of the water hits the plant.

As you evaluate your marketing strategy you need to make sure that 90% is exactly driving the result you need. You can’t afford waste.

Want to learn more? Join our FREE Digital Marketing Strategy Workshop where we put this into action.

How to Build a Clear Digital Marketing Strategy

There are 5 steps in defining a clear strategy.

  1. Define your goals. Clearly define your goal at a high level. What do you want to achieve? Make it as measurable as possible.
  2. Define your strategy. What is the approach you will use to achieve your goal. For example I may want new customers. Do I get them by building awareness or focusing on lead funnels?
  3. State your objectives. What are the measurable things you want to achieve. It could be generating a certain # of leads, or reaching a set # of people. The idea is that by achieving your objective, you’ll meet your goal. So if I need 10 new customers to hit my goal, I’d set an objective of 200 leads (assuming I convert 5%).
  4. Choose your tactics. Next, define the tactics that you can you to achieve your objectives. You must understand digital marketing channels to be able to strategically choose what matters.
  5. Assign KPIs and benchmarks to the tactics. This will help you to see how each tactic is contributing to your overall goal. This will help you evaluate your resources. For example you could find that your blog takes 50% of your effort, but is only expected to generate 5% of your leads.

Digital Strategy Template

We put this together with our Digital Marketing Strategy Template that connects goals, strategies, objectives, tactics and measurement.

This framework clearly connects your goal, strategy, objective and tactics. By adding metrics to your goal, objectives and tactics you’ll have a laser focused plan to drive your success.

Digital marketing strategy template

How to be Strategic in a Recession

In a recession every dollar counts, so you need to cut the waste and add discipline to your approach. This will get you more “bang for your buck” and grow your results.

Your aim should be to do fewer things that matter more.

Focus on the core activities that lead to business growth and allocate your resources based on the tools that have the biggest impact.

Want to learn more? Join our FREE Digital Marketing Strategy Workshop where we put this into action.

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