But what do you think?
It doesn't take a professional economist to predict the global markets are headed for a downturn. In the past year, inflation rates in the United States have hovered around 7%, with the IMF predicting the worst is yet to come. People everywhere feel the crunch of high gas prices and rising food costs.
The thing is, as expenses rise, many businesses are preparing to tighten their belts, cut unnecessary spending and ride out the storm until the global markets turn back around. As you're looking to cut the fat in your own company, it can be very tempting to slash your advertising and marketing budget.
The author here says this is a huge mistake.
The reasoning? By eliminating or even scaling down your marketing efforts, you're hurting the growth and maintenance of your customer base. New customers will be harder to reach while existing customers will be unaware of new products, services, and deals.
In essence, marketing is an investment - not an expense. And in an age dominated by the internet, this is especially true of search engine optimization. So, if you are considering cutting your SEO budget, the article says DON'T DO IT.
Why Does SEO Do Well In Economic Downturns?
When times are tough, you need to find a better value for your dollar. Your money needs to stretch further and work harder. In marketing, few channels work harder than search for most products and services. How do we know this? Because economies are cyclical, and this isn't our first recession rodeo.
In the SEO era (i.e., since roughly 1991), we've had three significant recessions. During these times, it's been discovered that SEO still performs. This can be attributed to a few reasons, namely:
- It's flexible: Even if you're a small fish competing with an industry-dominating competitor, SEO gives you the flexibility to attract new customers. Long-tail keywords help you target highly specific searches. Local search helps people in your area find you, and a regularly updated website lets visitors know that you're thriving (or at least maintaining), despite the larger economic environment.
- It's integrated: SEO fits in with your Facebook, Snapchat, or any other to help your business appear in search results. This creates an inbound marketing funnel just by taking an optimal approach to things you're probably already doing.
- It's budget-friendly: Aside from your computer/internet/electricity costs - all of which you're already paying for - SEO is primarily a time investment. Even if you're outsourcing your search engine optimization, you're paying for your expert's time and not hard costs like billboards, paid digital ads, and television commercials (all of which also require a labor investment).
To reap the benefits of SEO, you don't need to buy anything; you only need to do your homework, create great content, and optimize your site for web crawlers.
Well, that's the reasoning behind the article. What do you think?