How to Brace Yourself For Tough Economic Times
The simple answer is to stop, reassess your strategy and execute a plan that is designed to work in today’s environment.
Head over to the St. Regis or any other relaxing spot where you can clear your thoughts. Determine where your strongest ROI is, where your biggest losses are and how you will best maximize your ROI and minimize the latter.
Take a look at what your competition is doing…how do they rank in the search engines? If you were in their spot, how much money would you be making? What will it take for you to beat them? How would that make you feel? Figure out a way make room in your budget to implement a renewed and effective marketing plan.
If you haven’t already, now is the time to cut the fat. Kill your print ads that aren’t performing. Eliminate banner ad campaigns that have a zero or negative ROI. Restructure your PPC campaigns and only pay for the terms that are converting. Push your organic SEO campaign to the limits, now is a great time to capitalize on the blunders of your competition. There is a huge market cleansing happening right now in all types of verticals. Your best and most effective marketing dollar will be spent improving your rankings while your competition is crumbling.
“We simply attempt to be fearful when others are greedy and to be greedy only when others are fearful.” – Warren Buffet.
Right now, everything is on SALE! Go ahead and add that second Ferrari to the stable or pick up another beach front condo.