Another strategy change during a recession is to stop big rebrands and big redesigns.
They have their places, but many times big changes will cause drops across the board until the new stuff has been re-optimized (unless the post-launch optimization is skipped).
In their place it’s safer and easier to work on incremental updates.
If you have the traffic this could be A/B test driven which can help prove an improvement worked.
But even if you don’t have the traffic A/B tests need, there are usually dozens of things you can improve right now across your store. Some might be larger changes but many of them will be tiny. Missing things like image alt tags is so minor but they can have an out-sized impact and get you a sizable traffic boost from image search engines (e.g. Google Image Search, Pinterest).
I also like recommending incremental improvements because you can work on them bit-by-bit. Instead of one major (stressful) launch of a redesign, you launch a hundred tiny things over-time. The downside is that it can take awhile to see the results but having the option to work on your own timeline can be beneficial.
But you can combine the two approaches if you’d like to get the results fast, but still safely. Ilana Davis does this in her Website Rescues where she checks for and improves over 100 different things in Shopify stores.
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