Unless you’re a toilet roll or hand sanitiser business, it’s likely that the Coronavirus pandemic will hit you where it hurts – right in the profits.
As the economic impact of Covid-19 starts to bite, business owners and companies are facing challenges they’ve never yet faced. Limited access to resources. Decreased demand. Forced closures. Remote staff. And the worst thing is, none of us know precisely when it’s going to end.
Marketing offers a way to prepare your business for the long haul and soften the blow of any negative outcomes. Instead of denying there’s a problem, lean into the challenge and show your customers and partners that you can still provide value at this difficult time, while embracing a potentially volatile future.
How? Here are 3 quick steps:
1. Increase your visibility
In a lockdown, you have a rapt audience who are looking to solutions to the new problems they’re facing. Use this as a fresh opportunity to get found at every stage of the purchasing cycle, build brand awareness and achieve greater visibility.
The ‘Mere Exposure’ effect is where consumers develop a preference for your brand, simply because it’s familiar. Explore low cost techniques that will put (and keep) your name visible to potential clients on a steady basis. Investing in a marketing strategy will deliver long-term solutions.
2. Retain your existing customer base
If you stay out of sight for too long, it’s certain that you’ll soon be out of mind – especially with so many other issues competing for people’s attention. It’s always easier to retain an existing customer base than to acquire a new one, so find ways to keep in touch with your market. Content production or marketing automation solutions are good options, just don’t be too general. Targeted, contextualised messages will yield the best results.
Don’t forget your social channels, too! Create a strategy for listening to and engaging with your customers at every stage of the social media funnel. This isn’t purely about advertising, but in contributing to the conversation in a valuable and appropriate way.
3. Focus on driving conversions
Now is a good opportunity to revisit your marketing touchpoints and see where your strategy could be improved. If you’re not sure where to start, JBPRM can give you direct access to a team of experts who will be able to identify areas of improvement and create plans for following through.
Big expensive overhauls aren’t always necessary. Small, incremental changes to the user journey will turn more of your website visitors into customers. Invest in your site and your customer’s experience with it.
The inevitable economic downturn from the Covid-19 pandemic means businesses will be looking more carefully at their budgets, looking for cost-effective ways to continue to drive engagement and profits. Marketing might seem like a soft target for those looking to make cuts, but this short-term “fix” will have long-term consequences – and they won’t be good. Maintain visibility in your market for continued investment and long-term success.