How SEO Agencies Can Be Profitable During COVID-19 Pandemic?
How SEO Agencies Can Be Profitable During COVID-19 Pandemic?
It is of pivotal importance to stay proactive if you wish to combat COVID-19 economic downturns. We have already witnessed how the 2008 financial crises had been instrumental in producing certain disruptive side effects. Uber and Airbnb rose to phenomenal popularity throughout the west because the financial crises had meant lower-income and savings for the common masses, compelling people to consider sharing their assets such as car rides and spare rooms for covering the deficit.
An important lesson from the 2008 economic recession is that sooner or later marketing budgets would be the first to face reduction and that too up to 30 percent. That is precisely why this is the perfect time for SEO agencies to concentrate on productivity and overall well-being of all their teams and pay more attention to exceptional client management and robust client-agency relationship.
As per Entrepreneur.com, black swan events like pandemics and economic recessions, are used to changing the trajectory of economies, businesses, and even governments often changing the actual course of history. COVID-19 would be fueling a new wave of innovation in the days to come.
Care and communication are extremely critical to navigate market uncertainties while tweaking processes that should prove to be beneficial in keeping your SEO agency profitable.
Remember Your Chief Objective Is Maintaining Sustainability –
Your goal should be to have an effective tool for facilitating reference points and strategic thinking for the management workshops. You need to keep thinking in terms of the future by assessing the present situation. This should begin by knowing clearly about all the fundamentals of your SEO agency. You must start examining the fundamental external factors such as risk areas and opportunity areas and internal factors such as cash and people.
Even during the pandemic, you could still identify opportunity areas for helping your agency stay well ahead of the rest. Presently, we know that more countries and states are following a lockdown and more and more people are compelled to work from home. For some agencies, we know that this could mean a relatively lower cost for every FTE or full-time employee because of shifting to a remote team. Moreover, people who are having digital transformation proficiency, this could be a great opportunity to assist your clients in navigating the challenges of shifting to digital. Remember businesses would like to hire an SEO consultant like you to help them cope up with the pandemic crises.
Identify Your Risk Areas –
You must clearly determine and identify the risk areas that could bog down your business. You need to come up with an effective plan. One instance is to consider mitigating the loss of customers. For doing this, you need to make an integrated list of all your customers along with their MRR or Monthly Recurring Revenue and their specific industry. You may specify action items that could be taken for mitigating each risk. Every single risk must be attached to a precise action item as that would prove to be useful in the future.
Understand Ways to Keep Your Team Engaged & Active –
You must find out effective ways of keeping your SEO team engaged and active even during these distressing times. We are witnessing a tremendous amount of disruptions triggered by the coronavirus pandemic and that should surely impact the professional and personal lives of all your SEO team members. You very well understand that it is quite challenging to stay inspired and motivated in these times of utmost depression and mental stress. That is primarily the reason why the SEO agency’s executive team seems to have the responsibility of leading by example and definitely with understanding and empathy.
Maybe you could consider increasing the number of staff meetings. You must strategize effective ways of maintaining your culture and overall work ethics while strictly social distancing. It is mandatory for SEO agencies under the present circumstances to boost team communication. It is a good idea to rely on video chats and conferences instead of voice calls.
Cash: Monthly Operating Expenses –
Most SEO agencies are used to subscribing to diverse software, tools, and service providers for functional purposes. This is the right time to examine each vendor and the associated costs for making sure if it is still feasible to hire the services. You may look for a better alternative or you could consider renegotiating with your vendor.
Examine Your Present Situation as an SEO Team –
Generally, organizations follow a top-down approach in terms of implementation and decision-making. However, during the pandemic crisis situation, it is a good idea to consider gathering around your SEO team and listen to the recommendations, concerns, and suggestions of each member of your team. This should ensure a much better spectrum of ideas from a wider group. It is best to rely on a team plan that the entire team is excited to follow.
Develop a Contingency Plan –
After examining your present situation, you should be fully-equipped to come up with a contingency plan for your agency. Digital and SEO agencies have three core functions for keeping their business running well. They must focus on getting customers, managing customers, and effectively retaining customers. Everyone in your team must think in a cohesive manner. You must determine a quantifiable objective that has been agreeing upon by all your team members or the entire leadership team. All your decisions must be based chiefly on real-time data. You must focus on conducting weekly check-ins to assess your SEO agency’s current status.
During these stressful times, you must acknowledge uncertainty. You simply cannot pretend that everything is fine as usual. Things are bound to be uncertain and uncertainty could be our new normal for the time being. It is of critical importance for SEO agencies to effectively manage their professional relationship with their current customers to ensure sustainability.
It is of pivotal importance to concentrate on your team members and provide ample support to them while the transition is taking place from your past routine to your new normal. COVID-19 seems to have transformed the way businesses would be competing and functioning during the next few years. SEO agencies that decide to capitalize on all these changes would emerge successfully.
Also Read – 12 Step-by-Step SEO Guide for New Websites