SEO in a Downturn
Times are going to get tough, I think. Im probably not qualified to understand exactly how asset based leveraged derivatives have impacted on the debt market and the resulting impact on liquidity in the lending market, but, I think its safe to assume people will put the brakes on spending a little.
Just today, Harvey Norman said today they would cut advertising spend by 20% and McDonalds has consolidated their accounts which puts $15m of projects in question. (Source: Media Monitors)
3 things you need to do for the slowdown:
1. Paid Search:
If you are running your campaign based on a cost per customer acquisition or cost per conversion, why wouldnt you continue. Customers looking for your product or service, you pay for the lead and make a margin on that customer. Simple mathematics.
Where this falls down : If less people are buying, your cost per conversion will increase, potentially forcing you to reduce spend or the volume of conversions.
What you should do : Ensure your campaigns are focussed, move away from branding tactics and focus only on conversion keywords. Manage and monitor accounts closely, set clear monthly budgets.
2. Organic Search
Optimising your website to increase traffic and building links will keep on delivering website visitors and ultimately conversions. The cost is the effort to optimise, I dont think you can afford not to do this and well.
Where this falls down : As marketing spend comes under pressure, more companies will turn to SEO and competition for rankings will rise. As budgets come under pressure in general, SEO projects may be scrapped.
What your should do : Start now, find a good partner and get a SEO plan in place with clear budgets and deliverables.
3. Local Search
You will need your local customers to find you, comment on your service and build your reputation. This will support your SEO efforts and ensure you are well placed in the local market, ahead of competitors
Where this falls down : The time and effort to build a good local profile and the understanding of the importance of this by organisations.
What you should do : Lay down exactly what you want to achieve, set some processes and stick to them. You cannot be all things to all people. Find what works and invest time regularly.
4. Banner Advertising
As we know, generally banner advertising is notoriously bad for click through, but good for branding. In a slow down unless you are trying to build a brand this maybe something to consider cutting back on.
Where this falls down: If you do not assess where and what properly, you could be impacting negatively on your business. General custs on advertising spend, could reduce this automatically.
What to do: Review all ads, placements and clicks/ contacts resulting, and assess which, if any can be reduced.
Where to next:
The smart online marketer will still be able to maximise their marketing dollar through smart placement and search engine marketing.
