AdRoll gives you tips to protect your business in the face of economic uncertainty.
What happens when an economic change hits small businesses, threatening their cash reserves and overall survival? The novel coronavirus outbreak is hurting everyone, from giant retailers to direct-to-consumer (D2C) brands, all are facing uncertainty and navigating the changes that will ultimately change their way of work.
As many charge on to protect their businesses, AdRoll created Tips for Acquiring and Retaining Customers Through Economic Change, which focuses on helping companies manage their customer expectations in the midst of these troubled times. From fluctuating acquisition costs and a reduction in sales, shifting from offline to online events, and how to handle supply chain and production management disruption, AdRoll thought of a list of opportunities to continue accelerating business, despite evolving consumer behavior.
Your first instinct may be to reduce budget where it’s easiest, but this can be problematic. You need to be careful that this doesn’t have a negative impact on your purchase rates. Remain calm — trust in the brand value that you’ve gained and be strategic with your performance marketing… the importance of being digital-first isn’t going anywhere anytime soon.
The success of your business in the short and long term is a question of how quickly you can adapt to change and mold your marketing strategies accordingly.