If you’ve scrolled through a news outlet’s content recently, you may have seen concerning headlines related to the U.S. economy, as speculations of a recession are making headlines. For organizations balancing their books ahead of Q4 and planning for the next fiscal year, trying to hedge against an economic downturn can be daunting. However, strategic investments in communications can help you remain resilient amidst uncertainty.
Below are our recommendations to maximize your ROI and stabilize your organization during the year to come.
During a financial downturn, it’s not just organizations that suffer. Individuals are under increased mental and financial burdens, heightening emotions and making human errors more likely. In short, it’s the perfect climate for a crisis. With budgets tight, the pressure is on you to maintain your reputation. Investing in crisis preparedness and having a team on standby can make a difference.
When tensions are high, onlookers search for any hint of a falter. You can reassure stakeholders by investing in a proactive earned media strategy to showcase success stories and detail steps taken to weather the downturn.
Nearly seventy percent of Americans say they have turned to the internet to cope with economic uncertainty. With your target audience spending more time scrolling and competitors decreasing their digital spending, you have an opportunity to build a relationship with your audience at a lower spend.
Research shows that nine percent of companies come out of recession stronger than they went in. Utilizing these tips for strategic communications investments ensures that your organization is part of that nine percent.