Recession can be an opportunity for growth.
As talk of a potential recession circulates around our economy one of the first things to go is ad spending. This is why at Fire Source Media we focus on owned marketing channels. Here is why:
Paid ads are a terrible strategy.
When the economy is rockin’ so is your business and you are more likely to have the cash to pour into ads. But ads on Facebook, for example, continue to increase in cost. The same with Google. Ads are not easy to manage and hiring a professional to manage your ad spend can be expensive. Also, when things slow down so does your ad spend. This has a negative ripple effect throughout your business.
When revenue drops you pull back on your ad spend which in turn continues to lower your revenue.
This is why we preach organic, owned, marketing channels.
What does that mean?
It means building your organic marketing and lead capture system. This includes:
- Ongoing SEO to improve organic search ranking.
- Consistent email list growth and nurturing.
- YouTube subscriber growth.
- YouTube partnerships and affiliate marketing.
Building organic channels has been likened to planting apple trees rather than purchasing apples. There are many different ways to see growth but sustainable growth that has staying power is accomplished by planting roots and owning the traffic, not just renting digital space.
YouTube content, generated by your channel or by placing your product or service in an influencer channel, is evergreen. Those videos stay on YouTube and sell for you, sending traffic without a paid strategy. The same goes for organic search ranking and your email list.
The old adage, “slow and steady wins the race” is applicable. However, in our microwave society we want overnight success. But those who are prepared can not only survive a downturn, they can thrive and grow, seizing opportunities to take market share. Focus on the long game and build for the future, not just today. If we do see a recession or an economic downturn, I would encourage you to keep this in mind. If you want to start building this system, reach out to us! We would love to help you.
Contact Fire Source Media for an initial evaluation and we can get started taking your business to the next level.