The P&L of e-commerce businesses, other than online grocers, is expected to take a big hit in the next couple of quarters.
So, to cut costs and sustain, they would inevitably pull the plugs on many of their contractors and third-party solution providers. Meaning, many of them would likely cut off their ties with marketing agencies - or they would, at least, significantly lower their marketing budget.
If you run a top ecommerce SEO agency in India, the next few months won’t be very smooth. The country’s $60 billion online retail industry stares at a void and uncertainty ahead, owing to the pandemic and recession. And with it, stares at difficult times also the agencies that focus on the e-commerce businesses.
But that said, of course, not all hope is lost. While the economic contraction is big, market pundits believe the bounce-back can be quicker and stronger. Besides, those in the digital sector – smart business owners can turn this slump into an opportunity. And this stands true as well for any e-commerce SEO agency in India.
Some key strategic changes in your direction can make a big difference, enabling not just your survival but even your business growth.
For the starters, you should expand the scope of your business. Instead of just focusing on e-commerce, you should also cater to different industries, especially medical and healthcare.
Furthermore, you can continue taking more and more projects. However, instead of hiring more employees and spending on resources (which might not be possible at present), you should hire a white label marketing agency to fulfill your clients’ needs.
More of SEO agencies are adopting the white label model, in fact. It is highly preferred due to many of its benefits. If you have never considered hiring a white label marketing agency before, this might be a great time for this.
Have professionals work on your clients’ projects on your behalf. Leverage on their resources and infrastructure without adding to your short-term expenses.
In addition, there are many other things you can do to sustain your SEO agency. Tough times like these also test the toughness of your entrepreneurial spirit. The present might indeed look bleak; understand that things will inevitably get better.https://youtu.be/xr-w5_RDdXw
So, act smart as a business owner, have a growth-mindset, support your employees, support your clients, and - MOST IMPORTANTLY - embrace new and innovative ways. The majority of businesses can survive this recession. They just need a bit of resiliency.