As 2020 has officially come to a close, and as business owners start looking towards the new year, it’s understandable that many are keeping a closer-than-usual eye on their bottom line. The last 12 months have been completely unpredictable, and they have left even established companies in some industries scrambling around for cash.
There is no substitute for money in your business bank account, of course, but most of the entrepreneurs we know aren’t in dire straits. For them, our advice is to look at the bigger picture. We definitely think this is a good time to hold onto your money, but not if it stops you from winning customers or hurts you in the long run.
To help make sense of this advice, here are five things that will be worth more than cash to marketers in the coming year…
1. A Top Three Search Engine Position
When your company’s website is highly visible on Google, it allows you to reach an exponentially higher number of potential customers than your competitors. Then, you can continue generating leads and making sales even if you have to change your products, services, or pricing. Because organic search positioning builds over time, that’s an advantage that’s hard for anyone to take away.
2. A Sterling Online Reputation
Having a strong online reputation—in terms of the right reviews and testimonials—is always important. When the economy is uncertain and money is tight, however, people are even more careful about the way they spend and whom they trust. For that reason, having lots of positive online feedback can give all of your sales and marketing efforts a huge boost.
3. A Strong Brand Identity
While brand identity and reputation are similar, they aren’t the same thing. When you have a brand that is well-known within your target market, it amplifies the effects of your ads, emails, and other outreach activities. If customers and prospects know what your business does, and they understand your unique selling proposition already, they will most likely to say “yes” to your offers.
4. An Email List Full of Buyers and Prospects
Email remains the most cost-effective sales and marketing tool around today. With a few clicks of a button you can reach out to hundreds or thousands of buyers at once—provided you already have a list of subscribers to work with. Finding engaged subscribers who look forward to your messaging is a great way to generate consistent sales and make your business recession-proof.
5. The Right Marketing Advice and Strategy
Is it a little self-serving of us to say good online marketing advice is worth more than what you pay for? Maybe, but it also happens to be true. When you have a team of experienced professionals nudging you in the right direction, it’s easier to get results while avoiding common blunders. This is especially true at a time when many of your competitors are probably scrambling around trying to figure out their next steps.