Marketing During the Cost of Living Crisis

The ongoing cost of living crisis has quickly resulted in a sudden and significant change in consumer behaviour, both online and out in the ‘real’ world.

So, during these times, where consumers have smaller budgets and are less willing to spare them, how do you adjust your marketing to ensure you still get results?

Here’s 5 changes you should be making to your marketing plans right away…

Show your value

To put it simply, why are you worth it? What makes your brand and product worth the price tag?

You have to remember that in a time where households are feeling ‘pinched’ as it is, you’ll have to justify spending on an item that is considered a luxury, or not a necessity.

Recent inflation issues might mean that you’ve had to increase your business’ fees and prices across the board, so now it’s more important than ever to remind consumers of your brand’s true value.

For example, ensure that you’re giving your customers the best experience possible by offering fantastic post-sale customer service and make your customers feel looked after and cared for during these concerning times.

It’s time to change the SEO plan

It’s only natural that in light of increasing costs, consumers aren’t going to have big budgets and ‘disposable’ income.

Because of this, make sure that your SEO plan is updated to be targeting trending terms. For example, consumers will now more than likely be searching with terms such as ‘budget’, ‘affordable’ or maybe even ‘cheap’.

So, cast your net a little wider…as whereas a user might have searched for ‘lawyers near me’ just a few months ago, they’ll more than likely have adapted that to ‘affordable lawyers near me’.

Have a re-think and ensure you cover all bases to ‘catch’ new search terms.

Transparency is key

Building trust in your brand is nothing new! It’s always been vital in order to gain new customers, however, it’s more crucial than ever before.

Consumers have less purchasing power than they previously did, and because of this, they’re understandably warier than ever before when it comes to spending their hard-earned money.

Be open and honest about your messaging, pricing and services - no games, no tricks…upfront all the way!

Lessons learned in the Covid-19 pandemic

When the Covid-19 pandemic hit back in March 2020, businesses quickly adapted (almost overnight) to operating online.

From webinars to online meetings via Teams and Zoom, businesses proved their adaptability and that it could still be business as usual.

There is now a similar need for operations to move online where possible as consumers are less than willing to travel, due to the increased travel costs and increasing fuel prices.

Where you can, ensure your business offers online services.

Instead of holding an in-person event in London, switch to an online event…not only is it more cost-effective for consumers (and your business), it’s easier too! Offer online webinars instead of classroom-based activities. Instead of meetings that involve one party travelling during rush-hour, how about opting for an online meeting instead?

You can be creative - during the pandemic, house viewings were still able to go ahead via Zoom, so you can do it too!

Adapt and build your online presence

Potential customers aren’t going out. The majority of the population aren’t out at the weekends splurging their income on luxuries!

It’s time to take a look at your marketing plans and your success strategies and have a re-think.

Whereas, you might have previously advertised within print publications, opt to build your online presence instead - chances are if consumers aren’t going out, they won’t be purchasing magazines as often as they might have done in the past.

This can work for your business on multiple fronts too - online advertising is often more affordable than its print alternative and can be much more lucrative too!

Concerned about how your business can thrive…not just survive?

That’s where Bloombird Digital can help.

We don’t second guess, we know that it’s not just about getting leads or sales for your business – but rather building brand visibility with potential customers!

Our strategies will help increase brand visibility, get leads and sales.