Growth Weekly: Should you raise prices in a recession?

Is a recession actually coming in 2023? ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ Growth Marketing Weekly Welcome to the digest. This week we cover whether you should raise your pricing in a recession, how to create an Instagram sales funnel that converts (without ads!) and where (and why) to find data for your storytelling content – plus what’s new in marketing this week – plus plus new marketing job listings!  [Should You Raise Prices in a Recession?]( In this Marketing School episode, Eric Siu and Neil Patel discuss the possibility of a bad market in 2023 – and what companies should do. Tune in to learn:  - Whether they think a recession is actually coming in 2023 - People are spending less on digital ads (what does it mean for you?) - And, finally, should you raise your pricing for your services – or should you lower it? [Watch the entire 4-minute episode here](.    [How to Create an Instagram Sales Funnel That Converts—Without Ads]( Do you need a better way to nurture your Instagram following? Do you want to avoid paying for customer acquisition? This Social Media Examiner article will show you how to use organic Instagram content to convert followers into customers, one step at a time. One of the tips mentioned is “DM Tactics” in which you invite customers into conversations with your team. Comments are a good start but they’re difficult to track and tend to lose relevance quickly. In contrast, DM conversations can span multiple topics, tap into customized recommendations, and open up opportunities to convert prospects. You can easily transition a promising comment-based conversation to DMs by tapping Message instead of Reply under the comment. To keep track of prospects, use Instagram’s in-app labels to organize your DMs. For example, you can flag conversations for follow-up or mark customers who have booked a service. [Read the whole article here](.   [Where to Find Data for Your Storytelling Content]( Using data in your content marketing can help take your content marketing to the next level. There are two heavily interconnected reasons:  - Data makes stories more trustworthy - Storytelling makes data easier to understand and relate to In short, data helps influence how people perceive a topic. A story helps marketers communicate complex ideas and accelerate the decision-making process for decision makers. Data also makes stories share-worthy and link-worthy. Data-driven storytelling can help boost the performance of many of your current marketing tactics:  - Link building (just about any form of data is known to attract links, especially if it’s packages as a story) - Viral marketing (data told as a story drives people to uncover theories and concepts they’ve never thought of previously, so they are likely to share it around) - Sales (thanks to its ability to simplify and hence accelerate the decision making process) This Convince & Convert article shows you where to find data for your storytelling content. [Read the whole article here](. What’s New in Marketing This Week:  - [YouTube’s Testing Free Ad-Supported TV Channels](. YouTube is testing free ad-supported TV channels that show content from certain media companies. The concept is similar to services like Pluto TV, Roku’s Live TV channels, or the experiences built into TVs from companies like Samsung, LG, and Vizio — there will be a “hub” that lets you pick what you want to watch. This feature could help the company compete with other free or low-cost streaming services.  - [Meta Adds Additional Ad Targeting Restrictions for Teen Users](. Meta has increasingly come under scrutiny for its questionable advertising practices — which were most recently ruled illegal under the European Union’s data-protection law. Meta’s new updates mean advertisers will no longer be able to track teens across its platforms, or use gender as a targeting option. Age and location will still be available because the data helps advertisers ensure relevancy, but targeting efforts for the demographic need not go any further.  - [What Instagram’s Shop Tab Removal Means for Social Media](. In February, Instagram will remove the Shop tab from its in-app navigation bar. In its place, the platform will add a shortcut to create content in the center of the navigation bar and a Reels shortcut to the right of it in an effort to promote content creation and consumption. The news follows several platform updates within the last year targeted at a smoother shopping experience and suggests that Meta is now placing stronger bets on its original business approach amid two consecutive quarters of revenue decline.  BONUS: [Marketing gaffes]( – this is why you always need an extra pair of eyes!  Who’s Hiring: Top Jobs in Marketing  Recession, resmession. There are plenty of companies looking for YOU (if you have the right qualifications, of course).  Here are the top 3 job listings this week in marketing:  - CRO + Strategy (Single Grain). Remote | P/T to F/T | Analytics and strategy manager. (See full job description [here](.)  - SEO Specialist (Gannett Co.). Remote | F/T | Bachelor's Degree in Marketing. (See full job description [here](.)  - Director of Digital Marketing (Big Health). Remote | F/T | Building entire digital ecosystem. (See full job description [here](.) Reply to this email to let us know if you got one of these jobs! What did you think of this week’s newsletter? Love the newsletter? Have ideas for us to improve? Let us know your feedback [here](. How we can help you grow: - Listen to our [Marketing School podcast]( for daily marketing tips - Subscribe to the [Leveling Up YouTube channel]( - Interested in Web3? Don’t miss our new [Creators of Web3 podcast]( - Read the [Single Grain blog]( for in-depth, actionable marketing playbooks Until next week, The Single Grain Team P.S. Looking for help with performance marketing? Request a free marketing plan [simply by following this link](. [Unsubscribe]( 2121 Biscayne Blvd #1184 Miami, FL 33137