Uncertain economic times are often the perfect time to engage in more lead generation. According to Investopedia, companies that increased their advertising spending during economic downturns often ended up in a better position than their competitors. So, how can you maximize your lead generation efforts during tough times when you need to be more strategic?

The following guide offers five actionable tips to enhance your lead generation during an economic downturn. Learn how to:

1. Adjust overall marketing strategies
2. Adapt Trade Show strategies
3. Maintain (and even enhance!) Trade Show visibility with the right display
4. Modify Digital Marketing to align with shifting client priorities
5. Partner with cost-effective lead-generation services

Adjust Marketing Strategies for an Economic Downturn

When you set your marketing budget in the wake of an economic downturn, it is essential to reevaluate every aspect of your marketing strategy. This will help you concentrate your spending on lead generation channels that yield the highest return on investment (ROI).

For B2C campaigns, social media ads and email marketing tend to provide strong results. On the other hand, for B2B campaigns, almost a third of marketers agree that lead generation benefits significantly from participating in events and trade shows, where direct interaction with the target audience occurs. Use data from your specific industry to determine which trade shows will provide the best ROI and how many to attend.

Adapt Trade Show Strategies

Trade Secrets notes that 95% of trade show attendees agree that such events offer unique experiences that they can’t find online.

If your budget is limited, it may be most cost-effective to attend smaller, regional shows, which tend to be very specialized and allow deeper engagement with more localized audiences.

Alternatively, it may be wise to focus on a smaller number of larger shows each year, concentrating on the one or two that are critical to your industry.

Ensure that your sales team is aligned with your Trade Show strategies and well-equipped to maximize every sales opportunity.

Maximize ROI with your Trade Show Display

With long-term goals and current budget in mind, prioritize the display elements that are most impactful for lead generation.

1. If you attend multiple shows each year, consider budget-conscious tension fabric modular displays, that can be adjusted in size and configuration for each event.
2. If you attend one or two major shows annually, invest in durable materials such as aluminum extrusion or slatwall booths. Eye-catching lead generators like Backlit display or Truss systems can also enhance your presence.
3. If privacy or storage is critical, think about incorporating a reusable conference or storage room with changeable graphics.
4. To mitigate labor and shipping costs, opt for lightweight displays that are easier to assemble and disassemble. This allows your team to set up and take down the display, saving thousands of dollars.

If possible, find a partner who offers bundled services, including:

1. Design
2. Booth production
3. Shipping
4. Storage
5. Booth installation and takedown

A single company, like Infinity Exhibits, can streamline operations and save costs in both services and vendor relationships.

Adjust Marketing to Reflect Shifting Client Priorities

During an economic downturn, many of your partners may have genuine concerns about the cost-effectiveness of your product or service. Clearly communicate how your offerings can save them money, solve their challenges, and prevent further difficulties. Highlight how your products or services are adaptable and can address multiple issues your customers might face.

Demonstrate empathy to foster trust, showing that you genuinely care about customer satisfaction and understand their needs.

When not at trade shows, concentrate on LinkedIn and Instagram for B2B campaigns, or social media and email marketing for B2C campaigns, as these channels often yield high returns while requiring comparatively modest budgets.

If you possess a large database of past clients, use retargeting strategies, such as highlighting filled shopping carts or past purchases, to engage prospects who have already interacted with your brand.

While paid ads can be beneficial, it is important to focus on your highest-performing keywords with a strong ROI, even during an economic downturn.

Partner Strategically with Lead Generation Services

If your marketing budget is tight, it is crucial to make informed decisions when collaborating with other companies. Seek out lead generation firms with a proven track record of successfully navigating economic downturns and understanding market challenges.

Focus on companies that provide data-driven strategies to maximize the value of your lead generation efforts.

Leverage the data-gathering tools you have to monitor all potential business leads or customers across your campaigns. Analyze which client segments are most likely continue investing during economic downturns. This insight will allow you to tailor your approach specifically to these groups, enabling you to allocate more resources to the platforms and methods that deliver the best results.

Achieve Continued Success During Challenging Times

Economic downturns require smart action and adaptation to create strategies that will keep you competitive. Infinity Exhibits offers cost-effective trade show displays that can be customized to fit your specific business and industry needs, even on a limited budget.

With our data-driven insights, local event expertise, and experience in lead generation, we can help your business maintain visibility and capture or retain leads during tough economic periods. Contact Us to learn about the next steps and how we can help you stay on the path to success.