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4 Growth Opportunities Hiding in Recession
Soooo recessions. Kind of scary. But the more you know the less scary things seem. After all, this fam is the sharpest marketers we know.
To become more comfortable handling marketing strategies with a looming recession, we’re learning from Animalz about 4 potential growth opportunities.
1. Build audiences with cheaper paid advertising. It’s simple math, friends. More folks online, plus a decrease in overall media buy becomes a decrease in cost per acquisition. If this doesn’t scream opportunity to you then we’re not sure what will.
- Experiment with ad messaging and audience targeting.
- Run paid ads to gated resources and generate email sign-ups.
2. Ride the wave of growth from changing consumer behavior. Recessions prompt change. There’s no way around it. Start asking yourself, “what will the post-COVID economy look like?”
- Pay attention to how your customers react.
- Get creative with how your brand serves your customers.
- Adjust marketing messages and search terms to your customer’s new needs.
For example, Zuora anticipates a growing demand for membership programs to allow consumers to support local, brick-and-mortar businesses.
3. Shift event budget toward content marketing. One big question mark lies with live events. Hosting a 100+ person event isn’t happening any time soon, and this uncertainty is affecting both B2B and B2C markets.
Animalz suggested using content marketing to fill that void. For example, live events can shift to webinars or podcasts.
4. Double down on search to overtake your competitors. People are keeping busy online. As a matter of fact, countries are seeing a 30-50% surge in total monthly internet usage (Cloudflare). Woah.
While your competitors are pulling back marketing efforts in fear of a recession, take advantage of the power in search content. In the long run, you’ll have a clear advantage with built-up evergreen content, consistent traffic, ranking keywords, and backlinks.
Head over to Animalz for more details. You know what to do!
True Patriots PSA
Shout out to CTP Boston for sending in a Stay Sharp feature!
Encourage Bostonians to stay home and away from the Boston Marathon course on Patriots’ Day, aka Marathon Monday, to support public health and promote social distancing.
To maximize engagement, awareness, and impact in a way that served the public health interests of the region, CTP quickly concepted and produced a public service campaign for Fundación MAPFRE, in partnership with The City of Boston.
The plan was to promote the video across a variety of paid, earned, social and owned channels on the days leading up to Patriots’ Day. The PSA was created in four days and included a voiceover by Boston Mayor Marty Walsh, helping to drive additional visibility.
To get the word out quickly and take a leadership role during one of the most anticipated holidays in Boston, we released the PSA the Thursday before Patriots’ Day. We pitched the PSA to local broadcast outlets, local and national reporters, and influencers with suggested social copy, in addition to local running clubs who missed out on the marathon this year.
During a five-day, cross-platform media push, we drove more than 350,000 views, 13,360 engagements, 11 pieces of earned media coverage, and 180 pro bono broadcast TV spots for an estimated $215,000 in value.
Always Be Big
Every generation seems to redefine what it means to be cool. From poodle skirts and leather jackets in the ’50s to parachute pants and overalls in the ’90s – each generation seemingly transformed the last.
Honeycomb brings it back to denim and mullets of the ’80s to define what one dad remembers as his cooler days. Of course the cool factor goes well beyond fashion, and perhaps in this case includes eating Honeycomb cereal.
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“Excellence is not a skill, it’s an attitude.”