The current business environment is one of economic uncertainty, with companies struggling to stay afloat. In such a situation, investing in marketing strategies helps ensure a minor impact is crucial. One such strategy is SEO or search engine optimization. SEO is a powerful tool that can help businesses increase their visibility in the digital space and reach potential customers. Continue reading to understand the importance of investing in search during a down-trending economy and what measures can be taken to ensure success.
Overview of Economic Uncertainty in a Business Environment
We’re currently in a time when economic futures are hard to predict, and many industries face a high degree of risk. Multiple factors are at play, such as reduced demand and consumer spending, disruption of historical seasonal business trends, and the continued impact of the pandemic on the global economy. While the first response may be to cut marketing dollars, investing in marketing strategies may help ensure the business’s survival.
Forrester’s Q3 2022 CMO Pulse Survey Takeaways for SEO
Forrester’s Q3 2022 CMO Pulse Survey revealed search engine optimization is one of the most critical marketing strategies for companies in a down-trending economy. The survey found SEO is the most cost-effective way to reach potential customers and can help businesses increase their digital visibility. Findings highlight how SEO can provide a competitive edge via search result rankings, leading firms to reap long-term benefits.
“Marketing Budget” Google Trends Past 90 Days
Three Major Questions CMOs Should Ask About SEO
When considering investing in SEO, CMOs should ask three significant questions:
- What are the likely economic impacts on my SEO program?
- How can I measure SEO success during a downturn?
- What should my SEO focus be?
What are the Likely Economic Impacts on my SEO Program?
The impact of a down-trending economy on an SEO program will vary depending on the industry. For example, some verticals may experience reduced demand and consumer spending, while others may observe disruption of historical seasonal business trends. Understanding the likely economic impacts on an SEO program to plan for success is essential.
How can I Measure SEO Success During a Downturn?
Measuring SEO success during a downturn is vital as it tracks critical business indicators such as competitive share of voice in the search engine result pages (SERP), channel share between paid and organic search, and conversion rate.
For instance, tracking and maintaining share of voice is necessary to stay top of mind among customers during a downturn and be well-positioned for recovery. Additionally, prioritizing paid and organic search offers long-term benefits for online visibility, brand awareness, and conversions extending beyond economic uncertainty.
As a whole, SEO is an ongoing effort that requires consistent work to receive compounding results. Independent of economic conditions, scaling down or eliminating SEO efforts disrupt the growth and maintenance of your customer base. In effect, new prospects will be harder to reach, while existing customers will be unaware of new offerings. Therefore, tracking these indicators will help ensure the SEO program is successful.
What Should My SEO Focus Be?
Focusing on targeted opportunities, such as SEO-SEM synergy and customer experience, is essential when investing in SEO.
For example, although SEO and SEM involve different techniques, both rely on keywords for driving quality traffic to business websites. SEO and SEM help secure top-of-funnel and bottom-funnel leads when used in tandem.
Elsewhere, search best practices like ensuring website content is helpful, relevant, and easy to find positively affect customer experience. Additionally, quality external links build your site’s authority, increase your sphere of influence, and rank higher.
Overall, focusing on these areas will help to ensure the search program is successful.
In conclusion, investing in SEO during a down-trending economy can help businesses to improve their competitive position and to reap long-term benefits. Understanding the likely economic impacts on a search program and measuring its success during a downturn is essential. Furthermore, businesses should focus on targeted opportunities such as SEO-SEM synergy and customer experience to ensure success. For more information, contact Overdrive to speak with an expert.