You don’t need to be an economics expert to know that a recession is imminent. Warning of an economic downturn, Federal Reserve, the central bank of the United States, had raised intertest rates by more than 400 basis points.
Recent large-scale employee layoffs by big tech giants like Microsoft, Alphabet (parent company of Google), Amazon, IBM, and Meta added to the fear of imminent recession.
During times of economic downturn, businesses look at cutting costs. Generally, the first head that gets the hit is marketing and advertising.
It is because businesses think of marketing and advertising as a cost and not as an investment. However, it must not be the way you look at it.
Marketing and advertising are investments that need to be continued even during a recession as it is how you will take your product or services to your prospective customers.
If you have a question, Should I Hire Someone for SEO? in your mind, check my blog post and find the answer.
One of the reasons why businesses rely on SEO during recession is that it has helped in the previous instances when recessions hit the economy.
During times of economic downturn, SEO can help businesses in many ways.
Lowering marketing costs – Traditional forms of marketing like television ads, print ads, and hoardings are costly methods of promotion.
When a business is financially weak, it may not be able to afford such huge cost marketing.
However, SEO is a budget friendly method in increasing the visibility of your products and services and in reaching new customers.
Building brand credibility – With SEO, businesses can improve their visibility in search results that could build trust with potential customers.
Even during times of recession, businesses can afford and make use of SEO to keep their presence in the minds of the customers.
Ability to target specific audience – SEO gives businesses the ability to target specific audiences by optimizing their websites for keywords that are relevant to the target audience.
Therefore, during an economic recession, you can streamline your marketing budget to promote products and services only to your target audience. Businesses need not waste their monetary resources on targeting the wrong audiences using traditional forms of marketing.
Competitive advantage – When businesses use SEO, they gain a competitive advantage over those who are not using SEO. Businesses can thus use SEO to target specific audiences before their competitors who are not using SEO.
You may like to read 5 reasons why small businesses must utilize SEO to keep up with the competition.
Increasing website traffic – SEO helps businesses in ranking their websites better in search engines. By that way, they can increase the traffic to the websites, thereby improving chances of converting traffic into conversions.
During recession, businesses could reduce their marketing budget for traditional marketing activities. Then they could go for SEO that costs them far less money than traditional marketing. This helps businesses to remain live in the minds of the customers, even during a recession.
If you are a local business and you are worried about how an imminent recession might affect you, contact me to see how to make SEO work for your business.
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