Hey, Mitch Harper here. Now what I want to do in this video is talk to business owners who are struggling in the current economic downturn. So if that’s you, make sure you watch this quick video.
I’m going to give you three things to avoid during an economic downturn, and if you like this kind of stuff, then go to WorkWithMitch.com you can see how I can help you implement growth and marketing strategies into your business. Okay?
Now the first thing to avoid, pull off these little things here. You can see that my daughters have had a little drawing session on my whiteboard. I didn’t want to get rid of that. Now, first thing to do is not reduce your ad spin.
So many founders are scared, they fire some employees, and that’s unfortunate, but in this current reality that happens, the second thing they do is pool or massively reduced their ad spend.
Now, the reason you don’t want to do that is because right now as I’m filming this video in April of 2020 ad costs have dropped on Facebook and Instagram and Google by anywhere from 30 to 50% and the reason for that is because businesses are pulling their marketing dollars, which means for you and I who keep advertising, our costs get lower and lower and lower.
So you want to go against what everyone is doing. If you know how much it costs you to get a customer and you know your lifetime value or how much they spend with you, doubled down on your marketing spend, don’t actually put, even though it’s counterintuitive, you’ll come out of this with a stronger business and more customers. Okay?
The second thing to avoid focusing on too many social media channels, I see so many founders posting videos on YouTube.
Then they’ve got a podcast and they’ve got a blog. Then they’ve got Facebook, then they’re trying to keep up with Instagram.
It doesn’t work. You end up burnt out, you end up crazy. You don’t track your metrics. What you really want to think about is what kind of communication style you’re best at.
So for me, I like video and I like audio. So we do the YouTube channel and the podcast. They are our primary channels. That’s where I personally put my time.
So instead of trying to have a scatterbrain approach where you’re putting content across every channel, focus on ideally one if not two channels and double down and go all in on those channels for at least 12 months. All right, my third and final tip we’re nearly done is don’t make the mistake of selling before helping everyone says, Hey, there’s an economic downturn.
I’m nervous, I’m worried, I’m panicked. Let me just run ads or call people or email people and sell, sell, sell, especially in this kind of economic environment.
You need to help people before you sell to them. Now, if you’re watching this video on Facebook, this is us doing a perfect example of helping you before selling because after watching this video, if you watch 25% or more, I’m giving away one of our strategies here. You will be retargeted.
You’ll be put in a special audience and we will know that we’ve helped you because you’ve consumed a video like this. And then we will start showing you offers for courses, training, et cetera.
So yeah, as I mentioned at the top of the, if you want my help to implement marketing and growth strategies in your business, just go to WorkWithMitch.com and you can check out what we’ve got.
All right? So that’s the third and final tip. Help people before you sell to them. Don’t just put ads and content and emails out to sell, sell, sell, right?
They are my three tips. Reduce. Don’t reduce your ad spend. Sorry. Don’t spend your time on too many social media channels and don’t try and sell before you’ve helped anyone. All right guys, hope you liked this video.
Make sure you go to WorkWithMitch.com if you want to know how me and my team can help you implement growth and marketing strategies to not only survive in this economic downturn, but to make your business thrive as well.