Approximately 66% of the CEOs in India anticipate a major recession in 2023. The Covid-19 pandemic hit the global economy hard. Although the economy struggled to recover, Russia-Ukraine made it more difficult to overcome the loss. These two major factors are now pushing the global economy into a recession in 2023 and India will not be standing immune to it.
As per INDIA TODAY, the global slowdown is expected to leave the real GDP quite below what it was during the pre-pandemic time and this loss might cost the world over $17 trillion, which is nearly 20% of the world’s income.
With the recession, the expense graph is rising dramatically. Thus, many businesses are tightening up their expenditure belts and cutting down unnecessary spending to ride out the storm until the global economy flips back to where it was before the pandemic.
If you are a businessman planning to cut down your expenses, slashing your marketing/advertising budget first can seem to be extremely tempting.
If so…
You are making a huge mistake.
Scaling down or eliminating your marketing budget or planning not to spend on professional digital marketing services in Kolkata can hurt your growth or the maintenance of your customer base.
First and foremost, you must understand that marketing/advertising is not an expense but an investment. Without effective marketing solutions, it can be extremely difficult to reach your existing customers and also attract new ones.
Also, in an era dominated by the internet, slashing your online marketing budget can hurt your business badly. This is especially true in terms of search engine optimization.
Thus, if you are planning to cut down your SEO budget or stop availing of SEO services, DON’T EVER DO IT.
Whether times are tough or smooth, it is important to find a better value for the money you pay. However, it is quite amateurish to assume that SEO is expensive and may not offer you “value for money” as you expect it.
Going back to the time when SEO started, that is approximately around 1991, there have been 3-significant recessions that we survived. Amidst these tough times, it has been discovered that SEO continues to be unharmed by the economic drop and performed as it should.
With strong data and analysis, it is safe to say that if you invest in SEO services, regardless of how badly the economy drops, SEO will continue to carry out its roles and responsibilities.
This could be because…
If you consider your business to be a small fish, swimming alone in an ocean of sharks and whales, SEO still gives you the flexibility to attract your food (customers) among the crowd (the bigger industries). Local SEO strategies, the use of long-tail keywords and other effective SEO techniques can help you narrow your search result and target a highly specific category of audience.
Needless to say, SEO services are extremely budget-friendly and don’t cost anything like billboards, television commercials, paid digital ads and other types of paid marketing mediums.
SEO that supports your inbound marketing funnel and fits perfectly with Facebook, Snapchat or with other mediums to appear in search results. SEO takes an optimal approach and supports your marketing efforts for the better.
It is important to keep your SEO strategies high on priority along with other digital marketing services to acquire the best results. Your goal is to practise proper SEO techniques to churn proper revenue even during downtimes.
Reach out to the leading online branding agency in Kolkata now to set proper goals and understand marketing benefits while preparing for the upcoming recession.