What the Recession Means for B2B Content Strategy
The specter of economic downturn is haunting global markets and news media. While experts may still hedge on whether or not the recession has officially begun, the writing is on the wall. Consumers and companies are changing behavior and taking preemptive measures to scale back spending and protect assets in anticipation of leaner budgets.
For marketers and agencies, the run-up to recession means it’s time to reexamine marketing spend. But rather than giving up on long-term strategy, marketers can take calculated steps to adapt their content strategy.
By doubling down on reliable revenue-generating channels and tactics, maintaining a consistent dialogue with customers, and focusing on building long-term credibility, brands can build content programs that will drive results during and after a downturn.
Focus on the channels and platforms that show consistent growth
A possible recession, or even the fear of one, can put a damper on revenue growth. That means ad/martech companies could be forced to do more with less when it comes to content marketing. If you find yourself in that position, start to winnow down your strategy by focusing on the channels and platforms that work.
This is already underway in the B2C sphere, where some beauty and lifestyle brands are shifting spend toward social channels and away from earned and paid media. The logic behind the change: social content — especially influencer-backed marketing — has shown stability and even growth in ROI while other channels have taken clear hits in the past months of economic turbulence.
For B2B companies, the takeaway here is on the granularity and focus behind reallocation (rather than an endorsement of any one channel). Paring down on content avenues can be a positive opportunity for many brands, who often prioritize breadth of reach over efficiency. You don’t need to publish content on every available channel; you need to publish content that resonates on a couple channels to grow your business via content.
A downturn is a good time to reassess and tighten up: What channels can your brand rely upon to drive revenue? Within those, which specific platforms most consistently activate conversion-generating leads? The more granular you can make your insights, the better: identify the core of your prospect base and focus your resources there.
Use content to drive customer-centric conversations
Each marketing discipline has unique strengths. One benefit of content is that it allows companies to speak with nuance about sensitive subjects. As such, it’s also a natural launchpad for two-way conversations with customers about their concerns and how your company can address them.
When times of economic turbulence arise, don’t ignore the elephant in the room. Just as you adapt your distribution strategy, so too should the tone and substance of the content you produce acknowledge the economic realities your audience faces. Across distribution channels and platforms, adjust your language to take into account the challenges posed by times of scarcity and uncertainty. Recognize that audiences and customers may be under pressure to be more conservative with their purchasing power, partnerships, or long-term investments.
How might an ad/martech company operationalize customer-centric content that drives conversations? One approach could be writing regularly about how the recession is affecting your customers on LinkedIn and including calls to action asking those customers to share their recession stories. For example, a company that creates ad automation software might tout automation’s ability to help agencies get more efficient during the downturn while asking those same agencies how they are driving more efficient marketing spend amid the recession.
Another key tactical point here is the importance of participating in the conversations content drives. Content marketing’s great potential as a marketing discipline is to drive those two-way discussions that generate lasting bonds — and conversions — between content producers and customers. Yet many ad/martech companies treat content channels like LinkedIn as blog post link repositories. Don’t be that company. Capitalize on the conversational potential of LinkedIn to show your customers you’re putting them at the center of your marketing strategy, especially during a downturn.
Invest in content that builds credibility over the long term
While other brands are pulling back on upper- and mid- funnel initiatives to focus on the short term, content that showcases expertise and builds customer trust will resonate beyond the current crisis.
Show up for your customers when your rivals are fleeing, and you’ll be top of mind whenever your customers are ready to buy. Content that is not just engaging but also helpful and informative builds a higher quality of awareness — the kind that audiences will remember on the other side of the downturn.
Content marketing is not a short play. You’re not going to build a massive LinkedIn following overnight; one byline in AdExchanger is unlikely to transform your business. What this discipline is especially ripe for is long-term brand building. That makes content a perfect investment during a downturn when your customers may be temporarily buying less.
Tl;dr:
Economic uncertainty doesn’t exclude possibilities for creativity, connection, and even growth. Brands that can pivot their content strategy to play to their strongest channels, foster dialogue with customers, and build long-term credibility will be positioned to ride out the recession and recover all the stronger on the other side.
