Friday, August 12, 2022

How to Leverage Content During Economic Uncertainty

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Shreya Christinahttps://cafe-madrid.com
Shreya has been with cafe-madrid.com for 3 years, writing copy for client websites, blog posts, EDMs and other mediums to engage readers and encourage action. By collaborating with clients, our SEO manager and the wider cafe-madrid.com team, Shreya seeks to understand an audience before creating memorable, persuasive copy.

Founder + Creative Director at Gallery Design Studio NYCaward-winning B2B content creative agency.

Due to the economic uncertainty, many companies are reviewing their budgets. Most companies respond to economic downturns by cutting costs and prices and delaying investments. Typically, marketing budgets for all areas ranging from outreach to communications, one of the first to cut teams.

This is a mistake.

As the founder and creative director of a communications design studio, I believe that the first thing marketers should do when the economy takes a turn is to stay calm and focus on the customer experience. Or, as Mark Huber of Metadata, head of brand and product marketing, and Jason Widup, vice president of marketing, have said: Do not freak out.

Despite the need to curb spending, consistent creative content that supports evolving customer needs is vital, especially during times of economic uncertainty. With an agile mindset, you can approach your budget changes flexibly and focus on the results, responding to customer needs rather than instinctively reacting to the economic climate.

Regardless of the economic uncertainty, you still need to sell your products and services, and consistent content is the key to massive awareness from the top of the funnel. Awareness is the panacea for generating sales, especially in times of economic turmoil.

Here’s a four-step framework to help you map your content strategy in times of uncertainty.

Step 1: Segmentation

Review your segmentation. When it comes to pushing content, marketers need to consider which customer segments are being targeted and how. Here are some sample questions to get you started:

• Is this segment currently growing?

• Are they interested in our kind of offer?

• What problems are they currently facing that our offering can solve?

In an economic downturn, new customer segments can emerge. Consider segmenting prospects and customers based on their needs rather than roles and business metrics.

Step 2: Messages

Your messages will be vital during these times. Use empathetic language and avoid the hard sell in your messages. The purpose of your content is to instill trust.

In uncertain times, clients will be much more cautious about investing. It’s not that people don’t spend; they are very careful in choosing which providers or suppliers to spend. Add to that the fact that B2B sales cycles are longer (although there are steps you can take to shorten them), it’s critical to plan for the long haul and make sure your messaging helps your ideal customer base reach you. select.

During normal economic times, 41% of B2B buyers read at least three pieces of content before contacting a seller, according to Demand Gen Report’s “2019 Content Preference Survey” (registration required). And the average B2B buyer consumes 13 pieces of content before making a purchase, Pathfactory’s “Content Engagement Report 2021(registration required) said.

Another important point to focus on in your messaging is the value and better day you provide to customers, not your product or service features. Thus, efficiency and cost savings are paramount to everyone during an economic center. Many of my company’s software clients offer exactly those benefits, which are extremely relevant and worth highlighting in their content, especially when the economy is tough.

Step 3: Delivery

Deliver the right information in the right format at the right time. Evaluate your buyer’s journey and assess which pieces of content are the most powerful. Focus on pieces that provide reassurance and minimize perceived risk to potential customers, such as case studies. Customize messaging and delivery every step of the way so customers learn what they need to know to make a purchase.

Step 4: Process

Efficiently create great content with better processes. Tough times are a great opportunity to recalibrate and evaluate your operational efficiency. Instead of creating ad hoc content, create a content game plan structure. At my company, we recommend following a quarterly theme with monthly subtopics breaking down the quarterly theme, as well as posting daily social media content. Streamline your efforts by realigning all content to that main theme of the quarter. In my experience, this can save you time and money when planning and creating content.

Also consider automation. By automating internal Slack posts or Asana projects on your content marketing initiatives, you can save incremental amounts of time that add up to real savings of both time and money.

The final aspect of improving your processes is using data to make better decisions. For example, if the economy is fluctuating, you can run low-performing ads and boost ads associated with more sales. However, it is much easier to convince your internal stakeholders that you can successfully use data to drive content strategy if you have done so successfully in the past. In other words, make sure you collect and use data across all economic climates so that when you need proof of concept in tough times, you already have what you need.

Bottom Line

Content marketing during a recession is not a nice to have. It’s the lifeblood of your organization that keeps revenue flowing. You need customers to choose you, and great content helps make your business the ultimate choice.


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