With all of the news you hear these days about companies strapped for cash or having to consolidate, it can feel grim about trying to budget for the future. Entrepreneur puts it best: “not even the most well-prepared businesses have the resources to hunker down” for months at a time. That means they—and you—need to continue finding ways to generate working capital, and how to spend your marketing revenue wisely.
Their recommendations? Look at your expenses in terms of percentages rather than dollars, and double down on your top-performing marketing channels, especially digital.
Here’s another suggestion: maintain social engagement with your best customers. People want to know that there’s a plan on how to get back to normal—or, at least, a new normal. When you don’t let them know how you’re planning to engage with this crisis, or the steps you’ll take to secure their interests and your own services, it’s easy for them to assume the worst or seek help from a competitor.
Camaraderie in branding is what will keep your business rolling, even if the returns right now aren’t what you were expecting. Couple this with your known budget (remember those percentages) and your most effective marketing channels—including your website, content, video, and social media campaigns—and you’ll have the resources you’ll need in order to educate, reassure, and engage with your best customers.
