What To Do If The Pandemic Slashed Your Marketing Budget

We’re living through crazy times, and most businesses don’t know what will happen next. It seems impossible that the current situation can continue for much longer, but it all depends on what policymakers decide to do. It’s the uncertainty that hurts companies more than anything else. 

In this context, a lot of firms are slashing their marketing budgets. What’s the point of spending a lot of money trying to attract customers when you’re unsure where you will get new revenue? 

The trick here isn’t to give up on marketing entirely. Instead, the best approach is to try to do it more efficiently. You still need to reach out to your audience. But you have to do it cost-effectively. Low marketing budgets aren’t the same as no-marketing budgets. 

So what should you do if the pandemic cut the amount you can spend on outreach? 

Use Tools To Spy On Your Rivals

You might not be able to outspend all the brands in your segment, but you can certainly earn an intelligence advantage. Today, dozens of tools out there allow you to spy on your competition and find out what makes them successful online. 

Take SEMrush and Ahrefs, for instance. With these tools, you quickly see who is linking to your rivals, the amount of traffic they get, and where they do their advertising. All the information about their domain is essentially publicly available, meaning that you can simply cut-and-paste their approach to get level. You can even find out what they’re not targeting, which might offer you some low-hanging fruit in the SEO department. 

Improve Your Existing CRM

Competing on the major platforms is always going to be difficult. Everyone is bidding for the same user’s attention – and that pushes up the price. Adwords and Facebook Ads bleed your marketing budget dry. 

For this reason, a lot of companies try to improve their CRM with Dynamics 365 consulting. Ideally, you want a monopoly over your customers’ attention. You don’t want them playing the field, so to speak. 

One approach is to create a CRM that is exclusive to your firm that impresses customers. When you have complete control over all communication channels, you can do so much more. You reduce the chance that customers will switch to another provider. And you can differentiate yourself by offering fantastic service compared to the competition. 

Leverage Your Facebook Account

Facebook only costs money if you spend on ads. If you just develop interesting viral content on your account, it’s free. It doesn’t charge you any money. 

The trick here is to do something interesting that your audience wants to consume. For instance, you could write publications that help people understand products or do something entertaining involving what you sell. 

Where possible, you want to avoid pushing sales directly. The best approach is to do something that appeals to people affected by the pandemic and communicate with them emotionally. And given that so many people are spending their time at home, you have their undivided attention.