5 Low-Cost Ways to Start Planning for a Healthier Economy in 2021

Ecommerce retailers are hard at work trying to make the most of what is certain to be a busy and unique holiday shopping season. But what if your business isn’t dependent on seasonal transactions? Or, what if your company is in a holding pattern due to current economic conditions? How can you prepare for the coming recovery and turnaround?

Believe it or not, this can be a great time for business owners and executives who aren’t currently bringing in as much revenue as they might like. We know that for the short term it is painful, but we’ve also been working with some of our clients to prepare for brighter times ahead. 

Contrary to what a lot of businesspeople think, finding success online isn’t just about spending all of your time and money on internet marketing. Instead, it’s largely a matter of planting small seeds (through consistent effort) and watching them grow over time. It’s the men and women who can think aheadespecially when times are tough—who come out on top.

If history is any guide, a stronger economy is right around the corner. Let’s look at what you can do for little or no expense today to prepare for a healthier market in 2021 and beyond…

1. Tighten Up Your SEO Efforts

A lot of marketers will tell you that they’ve “always meant” to take search engine optimization (SEO) and content marketing seriously, but never really had the time. Well, if 2020 has given us anything, it’s a bit of extra space on our schedules. If you aren’t being overwhelmed in other parts of your business, this might be your chance to finally catch up.

This is a great occasion to examine your search strategy. Are you targeting the right terms, keywords, and buyer personas? Is the content you are producing engaging to customers? Have you been getting lots of search traffic, or are you constantly falling behind your competitors?

It doesn’t take a lot of hours to generate an editorial calendar, post some new material to your blog, or have your website audited. Any of these activities can help set you up for bigger success next year. 

2. Develop an Organic Social Media Following

As with search engine optimization, social media marketing is one of those disciplines where business owners and executives are constantly looking for shortcuts and quick fixes. Everyone wants to have tens of thousands of qualified buyers following them on Facebook and Twitter, but you can’t buy that kind of engagement or get it by tweeting the occasional picture of your dog. 

Social media marketing takes a bit of effort and activity, but that’s why this is the perfect time to start taking it seriously. Optimize your profiles, update your contact information, and get familiar with tools that let you schedule your content in advance. Do all of that now, and you’ll have an easier time keeping up with your social activity in just a few minutes a day.

Building an organic social user following is like running a marathon, it takes time. If you get started now while things are slow, you’ll build the kind of following that pays off when the economy is turning around.

3. Follow a Smarter Email Marketing Strategy

You can use email to spread news to your subscribers, generate instant purchases, and stay on the top of buyers’ minds… all while bypassing your competitors. Or, you can annoy the people on your list and waste everyone’s time without generating any revenue.

Most marketers fail at using email lists effectively for a number of reasons. They stop attracting fresh subscriptions, fail to format their emails correctly for easy loading and mobile compatibility, don’t send relevant info, and mismanage their sending schedules. Even if you’ve made these mistakes in the past, you don’t have to keep repeating them now.

Take advantage of the lull in your business to start segmenting your email lists and develop a schedule that you’ll be able to stick to for the next year. Think about how you can grow your subscriber list and turn it into a source of new leads and sales. It might take a bit of work and planning, but this is an activity that will pay off in a big way later.

4. Improve Your Online Reputation

Improving your online reputation is the business equivalent of getting more sleep. It might not seem crucial until you realize it affects everything else you do throughout the course of a month or year.

When potential buyers hear about your business, they will almost invariably look you up online before setting an appointment or making a purchase. You want them to find positive reviews, powerful testimonials, and stories of the good experiences other customers have had with your company. What you don’t want them to see are complaints, unaddressed issues, or even fake pieces of feedback posted by your competitors.

To establish a strong online reputation, and be able to monitor it, is one of the fastest and most affordable ways to boost your marketing campaigns. This is the perfect time to start looking at what’s been posted about your business on the internet.

5. Get to Know Your Web Analytics

Ultimately, web analytics will tell you almost everything you need to know about the current state of your business and where it’s headed in the future. With the right perspective, you can see where new customers are coming from, what they like, and why they choose to do business with you instead of a competitor.

Of course, if you’ve never installed web analytics on your site, then you are in the dark when it comes to these insights. Even though there are plenty of free options out there, we regularly meet with business owners and executives who have no idea what their numbers look like, or which direction they are headed in. We don’t want you to make the same mistake.

It won’t cost you anything to get good analytics data for your website, and it only takes a little bit of time to start generating custom reports that can give you a lot of important details. Don’t let your business stop growing simply because you haven’t seen the numbers being generated by user visits.

Want to Put Your Business in Position to Fly Next Year?

For a lot of business owners and executives, 2020 has been a difficult year. However, these tough times have given them an opportunity to regroup and be more profitable in the future. If you want to be one of the entrepreneurs who comes out stronger for the experience of the last few months, this is your chance to start planning and preparing.