5 Reasons Why Small & Mid-sized Businesses Need to Invest More on Marketing Right Now, Not Less

Allura Digital Blog - Why Small & Mid-sized Businesses Need to Invest More on Marketing Right Now, Not Less

To say that 2020 has been a tough year would be an understatement. If you own a small/medium-sized business, chances are that you’ve had to make cutbacks to conserve cash and ensure your survival. If you’re like most businesses out there, you’ve probably lowered your marketing budgets for the rest of 2020 and possibly 2021 too.

A lot of SMEs are procrastinating putting time and money into digital marketing, because they feel it’s too expensive and even if they do spend money right now, customers won’t buy anyway.

Is that the right approach though?

Maybe the demand for your products/services has dropped during the pandemic, but does that mean you should stop marketing?

Absolutely not! On the contrary, this is the time when you should be investing more in marketing, particularly online. Here’s why:

1) The pandemic is temporary. Your brand isn’t

If you’re not spending money on marketing because you feel you won’t get immediate results, think again. Marketing is an investment. Maybe your target customers aren’t spending as much as they used to pre-COVID, but they are still looking for solutions to their problems.

This pandemic will end eventually, and spending will increase, but maybe the buying patterns will change, which is why you need to remain agile and respond to changes with smarter marketing in order to remain relevant when things normalize.

Study the buying behavior of your customers. Find out what their biggest pain points are now. Match your offerings and messaging to their ‘new’ challenges. Ask them to participate in online surveys. Revisit your pricing if necessary. See if you can offer them some discounts, or run other forms of promotions to spur demand. If you are a B2B business, highlight how you can help them save money.

All these are aspects of your brand’s marketing that you can control to ensure you come out stronger on the other side.

2) Your target customers are spending more time online than ever before

Just let this sink in: The average user spends 2 hours 24 minutes on social media every day! As per a study, 72% of respondents reported an increase in their social media consumption during quarantine, while 43% reported that they are posting more.

It’s clear that as a result of global lockdowns and quarantine, people are spending a lot more time looking at screens in 2020 than they did in 2019, which was already a lot. That’s a huge opportunity for you to be seen and heard by your target audience, and build meaningful connections with them online.

Here are some things you can do:

  • Optimize your site to rank for the most searched queries (93% of all online experiences begin with a search after all)

  • Create a content calendar and stick to it by regularly posting a wide variety of content on your blog and key social media accounts