In times of uncertainty and economic crisis, content marketing is a key tool for customer loyalty and retention.

For a couple of years now, a series of events have had drastic effects on the world economy: covid-19 and its aftermath, inflation, and the invasion of Ukraine are some of them.

“The United States started the year with a quarter of reduced economic activity, and every day Europe shows signs of a weak recovery, with just 0.2% growth,” writes Germán Machado Rodríguez, Master in Economics and Public Policy, in Forbes Colombia. “Although there will probably not be an economic storm right now, today a possible recession is already anticipated at the end of 2022 or in the first quarter of 2023.” 

According to Machado, Colombia does not escape this reality: “Inflation in the country is above 9%, and all projections suggest that it would close the year above 8%.”

This situation has posed new challenges for companies. With the pandemic overcome and a possible recession ahead, companies are wondering how to position themselves in times of crisis and what strategies are worth investing in to retain customers and increase demand for their products and services.

How are B2B companies affected in times of crisis?

Economic, political, or social instability can cause negative impacts on companies: increases in operating costs, business losses, and supply chain disruptions, among others.

As part of the “solution,” one of the most common mistakes made by companies trying to survive during recessions is to freeze or reduce marketing, communication, and advertising budgets, according to an article published in infomarketing.pe.

In the article, Estuardo Lu Chang-Say, professor of Management and Marketing at ESAN University in Peru, points out: “Normally when we enter times of crisis and sales fall, the marketing budget usually falls along with sales.”

However, in times of crisis, it is necessary to do the opposite: adopt marketing strategies to strengthen the brand, reinforce customer confidence and stimulate demand.

Lu Chang-Say states, “It’s best to focus on keeping customers who frequently buy the product, as they are more loyal to the brand. The marketing strategy must satisfy this sector, who will continue to bet on the company because they feel happy with what it offers “.

In this sense, content marketing is an affordable and effective alternative to paying for expensive advertising campaigns and television ads.

How can content marketing help a company stay afloat during a recession?

Content marketing is one of the most effective ways for companies to connect with their customers:

1. Increase brand awareness: Content marketing can help build brand awareness and increase visibility among potential customers. Today 56% of marketers use blogging, for example, as part of an effective engagement strategy, and 10% say it is the type of content that provides the highest return on investment.

‍2. Position on the Internet: People use search engines to find answers to their questions or look for solutions to their problems. If a company positions itself at the top of the results, it will be easier for potential customers to find it. In fact, 61% of marketers say their top marketing priority is to improve search engine optimization (SEO) to increase their businesses’ organic online presence.

3. Build customer loyalty and retain customers: a good content and communication strategy that provides valuable and reliable information to customers translates into a high retention rate and brand loyalty. A loyal customer is a customer who consumes 33% more than a new one.

How to manage content marketing in times of crisis?

While it is normal during a crisis to try to recover sales, the main objective should be to enhance brand recognition. Even if potential customers don’t spend now, they eventually will. And with a good content marketing strategy, they will remember the brand when the time is right.

The pandemic and its aftermath increased users’ online presence and internet use, according to an article in The New York Times. Although rates have slowed down a bit with the return to face-to-face life, those who saw the opportunity to expand and connect better with their audience take advantage of this influx of screen time.

This is the perfect opportunity to improve brand presence and credibility by publishing valuable, high-quality content that attracts followers and increases brand trust.

The key is to manage content effectively. For this, we recommend the following:

1. Redefine the audience:

During a recession, consumer behavior changes to adapt to new conditions. Depending on the severity of the crisis and the economic situation, consumers decrease their consumption and establish spending priorities.

During an economic crisis, it is necessary to analyze audience data:

• What is changing among consumers?
• Have their incomes declined?
• What elements of products, services, or businesses are now most useful to consumers?
• Do they have new interests?

When the economy is in decline, it is essential to ask questions like these and review the company’s business practices. Tailoring your approach and content strategies to customers’ responses will help to better connect with them if their buying needs have changed.

How to better connect with the audience with content strategies?

• Blogs: According to Hubspot, blog posts are “the best opportunity a company has to improve its organic search rankings.” Blogging content strategies should focus on providing valuable content to the audience, positioning the website, and increasing organic traffic.

• Email marketing: Creating valuable content and distributing it through email newsletters is also a good idea to connect with the audience. The company blog can be used to deepen the content presented in newsletters and invite readers to subscribe.

• Educational content in the middle and bottom of the funnel: The more a company can teach its prospects about the benefits they will get from its products, the more prospects will become convinced that they will need those products or services in the near future.

• ‍Campaigns with audiovisual content on social networks: creating content to connect with the target audience is vital to bridge the gap between the brand and its customers. Platforms like Facebook, Instagram, and TikTok are great channels for producing valuable and entertaining content.

2. Carry out SEO strategies:

Another change in consumer behavior is also due to research and sales cycles. More and more consumers and companies are researching a product or service before buying it.

Hence, brands must create content related to the most common questions about products and thus accelerate the evaluation process of their consumers. That is why SEO and content marketing are key tools in times of crisis.

Considerations for SEO Strategies

Companies must measure consumers’ time searching for information and conversion rates in any strategy. If consumer behavior changes, so do the consumption of some topics or products and traffic rates.

• For this, it is recommended to measure the impressions of stable keywords over time and to constantly verify the conversions on landing pages or if the main keywords continue to generate the same volume of searches.

• Creating a traffic plan that covers strategies over twelve consecutive months is also recommended. Brands that are attentive to market changes can react faster than their counterparts.

• Apply the 80/20 rule: if the budget is scarce in times of crisis, it is necessary for companies to concentrate on optimizing 20% of the main keywords and landing pages with which they obtain 80% of the income.

3. Providing value with educational content:

Content marketing gives access to new audiences who may not have heard of the brand and its value proposition or know what problem a product solves. By educating them on these topics through blog posts or educational podcasts, you can inspire trust among potential customers.

What educational content can be offered?

Webinars and live videos are valuable tools for communicating with your audience. It is advisable to choose a topic of current interest related to the brand’s industry (health, technology, art) and announce the webinar in a blog post or social media post a few days in advance to attract an audience.

It is possible to host the webinar on platforms such as Zoom and broadcast live on YouTube and Facebook. It is essential that the topic be valid for customers and related to the brand. Furthermore, it is recommended to organize a round of questions and answers at the end to interact with customers.

4. Create post-sale content to build customer loyalty:

The creation of post-sale content improves the experience of new customers and builds customer loyalty to retain existing ones.

Economic changes and challenges have highlighted the importance of business reputation and building long-term customer relationships in a post-pandemic world. Acquiring new customers can cost more than retaining them, so nurturing existing relationships is essential:

• Free E-books: E-books with recent (or recycled) content help educate customers on the use of products and services or other topics of interest to the audience. If customers are regularly offered free valuable content, they will feel grateful to the brand. 

• Video tutorials or testimonials: Tutorials effectively teach customers how to take advantage of the company’s products or services, while testimonials show how other customers used the product and how it helped them with what they needed.

Conclusion

In times of economic recession, when fear and uncertainty prevail, it is more important than ever for brands to offer their audiences the information they want and provide the confidence they need in times of crisis.

If a brand invests in creating and distributing valuable content during a crisis, it can gain recognition and loyalty from its customers, two essential ingredients to get through difficult times.

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Sources

Franzen, K. (n/a). Successful Content Marketing When Your Business is In a recession. Neongoldfish.com. Retrieved August 10, 2022, from https://blog.neongoldfish.com/successful-content-marketing-when-your-business-is-in-a-recession

Friedman, J. (2022, July 19). Why you need to create content for after the sale (hint: It can help your strained budget). Contently. Retrieved from: https://contently.com/2022/07/19/why-you-need-post-sale-content/

Growth strategies for recessions. (2022, July 11). Kevin Indig. Retrieved from: https://www.kevin-indig.com/growth-strategies-for-recessions/

Koeze, E., & Popper, N. (2020, April 7). The virus changed the way we internet. The New York Times. Retrieved from: https://www.nytimes.com/interactive/2020/04/07/technology/coronavirus-internet-use.html

Lighty, T. (2020, April 10). Why you should double down on content marketing during a recession. Oneupweb. Retrieved from: https://www.oneupweb.com/blog/why-you-should-double-down-on-content-marketing-during-a-recession/

Morreale, M. (2022, July 14). You're not the only one worried about the rapidly increasing need for content. Contently. Retrieved from: https://contently.com/2022/07/14/how-to-create-more-content-with-less/

Rodriguez, G. M. (2022, June 8). Now comes a global economic recession? Forbes Colombia. Retrieved from: https://forbes-co.cdn.ampproject.org/v/s/forbes.co/2022/06/08/red-forbes/ahora-viene-una-recesion-economica-global/amp/?amp_gsa=1&amp_js_v=a9&usqp=mq331AQKKAFQArABIIACAw%3D%3D

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