Covid19 Impact and Actions For Loganix
We are a business of marketers and like many businesses right now we are seeing a direct impact from the Covid19.
We’d like to share what we are seeing and what we are doing in the face of this crisis as well to extend our solidarity and availability for any and all marketing support. Not just in the form of paid services and products but as peers and professionals supporting one another in this extremely difficult time.
What we are seeing
- Many local businesses that are closed because of government orders have partially or fully canceled their SEO and PPC services. There are some high relevancy local businesses (certain lawyers / delivery services, etc) that are doing quite well now and are continuing their marketing.
- Many online/eCommerce businesses are taking a “wait and see approach” with their marketing. We’ve seen some reductions and some increases in marketing spend in both SEO and Paid Advertising.
- Within PPC specifically, we are seeing lower conversion rates for campaigns (down around 15%) as people are reluctant to spend on unnecessary items but at the same time, we are seeing lower CPC (cost per click) cost (down 25%) as many advertisers pull their ads and clicks, therefore, cost less. For our businesses where they have a positive ROI for the campaign, we are still able to maintain this currently.
- Strictly online/eCommerce websites are looking to continue SEO but with increased strategic and tactical emphasis on prioritizing. They want to do work that will have an impact faster.
What we think you should do
- For businesses that have a marketing budget as a part of their operational budget based on revenue, if your revenue is down then likely your marketing is down or even cut completely. Before you cut completely, scale down to proven/known positive-ROI tactics.
- If you know organic traffic from links is bringing in sales but sales are decreasing, prior to cutting that budget completely consider reducing the spend or the number of target URLs.
- With PPC, focus on high ROI tactics like remarketing, brand, or high-intent buyer search keywords
- If your marketing budget is independent of revenue (you have discretionary cash that can be invested) we encourage you to double down on SEO. Large amounts of money and effort are and will be pulled from marketing budgets and search algorithms will continue to reward optimized and targeted content as well as authority-filled pages. While we may be in a recession or even depression for months – if you have the cash there is no reason to hold on SEO.
What we are doing
- Loganix is focused on high-quality services and value adds for our clients.
- If clients are spending less on our current offerings due to economic impact we are looking to provide more quality and unique offerings aimed at streamlining work time and cost investment for our clients. Not fire sales or promos to get you to spend more money you don’t have or don’t want to use.
- Instead, we’re going to look to add value to our existing relationship by launching products and initiatives to build community, optimize workflow, and make your job of marketing easier – whether you’re working with us through this entire situation or have to take a break and return on the other side.
- Internally, we are immediately reviewing all costs and operational standing to determine:
- What unnecessary costs we can reduce or eliminate
- What marketing channels are currently doing and which are most profitable
- What steps may need to be taken to protect our employees and the business overall if things worsen. This includes planning for financial/operational decisions that may have to be made as well as what options we have beyond our means to not just survive but possibly thrive. Examples of these might be
- Which verticals can we expand/target that are in strong need of our services?
- What government programs might we benefit from to keep our full payroll and team working and thriving?
- Projecting cash flow and budget so we have our finger on our pulse of the company as a function of revenue to know exactly what and when we need to make decisions. The better informed we are the smarter we can be with our decisions.
- Pushing all employee tasks to growth and fulfilment while putting R&D on hold until we see the light at the end of the tunnel.
The situation is very fluid and unknown. While we hope for only a short disruption, we believe it prudent to prepare for extended impact. In this context we feel the most important thing we can do – like many of you can do – is to strengthen our relationships and community.
We love SEO. We love building links. We love driving awesome SEM results. But right now we all need to survive as people, businesses and communities. We are not first responders or medical professionals nor are we policymakers. We can’t make a huge impact on the actual threat our societies are facing. But for those of you who will continue to be online, to market, to build your presence, we can be the best version of ourselves for you.
This is the focus.
In a subsequent email, we will be announcing a number of new products/services and initiatives related to this.
Thanks for your time and please stay safe
Aaron Haynes, CEO
Now it’s your turn.
Now I’d like to turn it over to you to spark a debate or lead a new discussion.
What in this post were you excited about? What was useful? What would you like to read more about?
Or maybe you just have a question about something you read.
Either way, let us know in the comments below.