Fortune Favors the Bold from Smartercomics by Franco Arda

So, figure out the best way to deploy your content across the target-rich social media landscape. That bodes well for companies building brands and selling products, as does the fact that 27.5% of users research products to buy via social media, all according to FinancesOnline. In terms of reasons for using social media, leading the way at 36.5% is for news and current event information. This number has grown a whopping 31.4% since 2018. In 2021, there were more than 4.2 billion social media users in the world. In uncertain times, building long-term organic traffic is just smart. This is the time to balance short-term and long-term wins.

When times are good, this approach takes a back seat to quick wins from performance marketing and paid clicks. Increase content-blogs, podcasts and videos to support SEO- even though its benefits are longer term in nature than usual. Lengthen your expected payback period to the next six to 12 months. Perhaps the most difficult tweak to the marketing effort is adjusting your mindset. Invest in content to build quality traffic. Highly personalized custom content is effective with this audience.Ģ. Explore account-based marketing if your targets are high-value accounts. Remarketing efforts should remain within the budget. Limit paid search to the most high-impact keywords/phrases. On the paid media side, look for firms comfortable working with lower spend-they exist. Build up that base of reputable content and leverage it across your channels and ecosystem. Consumers and businesses still make buying decisions based on the reputation that’s advocated by credible third parties-media, podcasters, even influencers. Reallocate some paid advertising money to ‘earned media.’ĭouble down on your company’s earned media spend, using a small portion of what had been allocated to paid media. Are they perceived as essentials, justifiable indulgences, purchases that can be postponed or as unjustifiable expenditures? The answer should impact your spending allocation.ġ. Think about how consumers perceive your product/service offerings. Revisit your strategy, distribution and spending allocation in response to changes in product/service demand. Savvy marketers know there is an opportunity to gain market share when competitors make spending cuts. However, history tells us indiscriminate budget cuts are momentum busters. So, how will the bold proceed in this business environment? Economic headwinds and inflation are real and should not be ignored. And great leaders recognize not only the importance of momentum-in sports, military endeavors, business, etc.-but how much can be gained or lost when faced with adversity. Being bold during great times is often the cost of doing business, but it’s also the path to building momentum.

Fortune Favors the Bold from Smartercomics by Franco Arda