Let’s face it: recessions can be tough on businesses. But what if I told you there’s a way to survive and thrive during a recession with PPC?
Using the right paid advertising strategies, you can keep your ad spend in check, target the right keywords, and optimize your landing pages to convert leads into paying customers.
In this article, I’ll share the top 5 strategies you can implement today to give your business a fighting chance during an economic downturn.
What is PPC?
It is a digital marketing model where advertisers pay each time users click on one of their ads. These search ads appear on search engine results pages (SERPs), social media platforms, and other websites where your target audience is likely to be.
These campaigns can be highly targeted and cost-effective, allowing advertisers to reach specific audiences with precision and control. Paid search can be a highly effective marketing strategy for businesses looking to drive traffic to their website and generate leads or sales. PPC advertising is flexible, allowing companies to adjust their ad spend, targeting, and messaging based on their needs.
With the right paid advertising strategies, businesses can maximize their advertising budget and achieve their marketing goals. However, it requires careful planning, execution, and monitoring to ensure a positive return on investment.
Will the US Experience a Recession?
In short, maybe. Economic forecasts are notoriously hard to trust. According to the IMF, the US, EU, and China are all experiencing a slowdown in 2023. However, a slowdown isn’t the same as an economic recession – and isn’t too much of a surprise following the triple whammy of the pandemic, the Ukraine War, and the Great Resignation.
With so many factors – and increasing uncertainty – accurate economic predictions are nigh impossible. Indeed, many economists believe the US economy alone may avoid an outright contraction, as its labor marketing is among the strongest (and the Fed is tightening interest rates to bring down inflation).
Nevertheless – recession or not – businesses will face stiff competition. So to weather any economic downturns and sluggish growth, you shouldn’t slash your marketing budget but ensure every dollar and cent delivers the best possible return on investment (ROI). After all, if customers can’t find your business, you don’t have a business.
5 Best PPC Management Strategies During a Recession
1. Maintain Your Ad Spend
Don’t cut your ad spend to the bone in the vain hope of saving money – it doesn’t work. Your ad spending is revenue-generating (assuming you’re doing it right). Too often, if there’s even a whiff of recession, businesses needlessly curtail advertising spending.
But ask yourself, should you diminish your ability to compete as competition becomes fiercer? Then, continue to invest in your campaign to generate leads and sales as your competition cuts back.
2. Target Money-Oriented Keywords
Economic recessions tend to alter consumers’ psychology toward value and cost-consciousness. That’s why businesses need to target money-oriented keywords in their campaigns. By targeting keywords related to discounts, promotions, and affordability, companies can attract more cost-conscious consumers and generate more leads and sales.
3. Go After Vulnerable Brand Keywords
Businesses struggling during a recession may need more resources to maintain their cost-per-click advertising presence. But, as they say, when one door closes, another one opens. It allows other businesses to go after vulnerable brand keywords and capture their market share.
By targeting vulnerable brand keywords in pay-per-click advertising, businesses can attract consumers who are searching for alternative options and gain more visibility in the market.
4. Build Your Negative Keyword List
It’s more important than ever for businesses to maximize their advertising budget and generate the best possible ROI. One way to do this is by building a negative keyword list to exclude irrelevant or non-converting traffic. By excluding irrelevant traffic, businesses can save money on advertising costs and focus on targeting their ideal audience.
5. Optimize Your Landing Page
Don’t funnel customers towards a lackluster landing page (or your homepage). You don’t spend on PPC marketing to not convert browsers into buyers.
Your landing page should be optimized to seamlessly funnel potential customers to your site into your desired action. That could be purchasing a product, filling out a form, booking a consultation, or more. Remember to match your keywords with the relevant ad page and minimize the number of clicks a consumer needs to make.
Hire a Tried-and-Tested PPC Agency
As companies and enterprises scramble to adapt to changing economic conditions, paid advertising seems like a complex and time-consumer process. Only some businesses have the relevant in-house staff and the resources to hire and train a whole new team of people.
Hire a trusted agency to achieve your marketing goals and keep customers flowing to your site. They can perform various services such as keyword research, ad copy creation, landing page optimization, and campaign management. Not only will that save you time and money, but it’ll guarantee a higher ROI.
Look no further than Clicta Digital – we’ve helped numerous businesses skyrocket their online traffic through PPC. Our expert team has years of experience creating effective campaigns that deliver results across numerous industries.
Book a consultation today to learn more about how we can help you achieve your marketing goals and thrive, even during tough economic times.