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Article | July 20, 2021
As the pandemic hit nearly every industry hard in 2020 and early 2021, many businesses did whatever they could to reduce expenses. Considering the sting of government shut-downs, operational restrictions, and lagging sales numbers, it’s no wonder that companies cut their marketing budgets! In one study, 72 percent of marketers said their budgets were either reduced or cut entirely.
With companies spending less on marketing, more responsibilities naturally have fallen on in-house teams. Now that the economy is starting to rebound and life (and work) are returning to some degree of “normal,” entrepreneurs may be wondering if they should continue to handle their marketing efforts.
Once the country opened up for business, many businesses expected consumers to come flocking back. And in some cases, they did. But in other cases, they didn’t. A report from Alchemy Worx, a full-service international digital marketing agency conducted by third-party research firm YouGov, shows most American consumers were spending cautiously.
The just-released 2021 Consumer Spending Snapshot reveals “the key factors currently motivating consumer shopping decisions and the stark generational differences in purchasing behavior. And Alchemy Worx says the survey “illuminates why businesses need to hone their messaging to reach the right consumer at the right time or risk losing them altogether.”
What is one resource to help black-owned businesses succeed?
To help Black-owned small businesses continue to succeed, we asked CEOs and business leaders for their best tips. From looking into local chapters of Black Business Association to the Black Owned Everything website, there are several resources that can help the continued growth and success of Black-owned small businesses for years to come.
As a small or medium-sized business (SMB) owner, it’s a challenge to come up with new marketing concepts, but repurposing existing content is a surefire method for driving ongoing traffic to your site and a simple way to amplify your message without investing a lot more time or effort. That last part's important because, as an SMB owner, you’re busy managing everything for your business, including marketing.
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