We’re living in unprecedented times. The novel coronavirus (COVID-19) has affected every corner of the globe and completely changed the way we work and live. Many entrepreneurs find themselves in especially difficult situations as they try to keep their companies afloat.
We want to help! That’s why we’ve created this quick article about how to effectively market your business during the pandemic. The four tips below will help you navigate these uncertain times and put your business in a position to succeed.
Now is Not the Time to Stop Marketing
Tempting as it may be, now is NOT the time to pull your company’s marketing budget. In fact, this might be the perfect time to invest more into marketing.
Many of your competitors will be looking for ways to cut costs. If they decide to reduce their marketing spends, your company will have an opportunity to move past them, win over more of your ideal audience. and grab more market share.
We realize that some organizations have to reduce marketing expenses. If they don’t they’ll go out of business. If you find yourself in this position, do what you have to do. You can always increase your marketing budget again when the COVID-19 pandemic is behind us.
But if you’re able to spend money on marketing, now is an ideal time to do so.
4 Marketing Tips
You’ve crunched the numbers and decided that you’re both able and willing to invest in marketing during the current crisis. Now the question is, how? These four tips will help you effectively market your business in these times.
1. Use Appropriate Language
First thing first, you must use appropriate language. Many of your customers are going through extremely difficult times right now. They might be out of work. They might have loved ones who have become ill. They’re probably struggling to find everyday necessities like toilet paper.
Your marketing efforts will only be effective if you internalize this and adjust your brand’s promotional strategy to suit. In other words, understand the world’s current situation.
You should also consider adjusting the kind of content your brand is producing. For example, a blog post talking about the best business conferences to attend in 2020 probably won’t get much traction right now. In fact, if you were to post that article, your brand might be considered insensitive and anger its target audience.
View all of your marketing initiatives through the COVID-19 lens and make sure that the promotional material your brand releases is time-appropriate and respectful.
2. Redirect Your Marketing Budget
If you originally planned to spend a portion of your marketing dollars on live events, you’ll need a new strategy. All in-person gatherings have been cancelled or postponed in 2020. The silver lining is, now you have a lot more money to put into other marketing strategies.
Most people are stuck at home right now, which means internet use is WAY up. Meet your customers where they are and utilize the digital channels at your disposal. This strategy will give your company the best chance to drive revenue.
3. Focus On Your Current Customers
You should always focus on your current customers. Countless studies have proven that retaining current customers is much more cost effective than generating new ones. This is especially true during a crisis.
Ask yourself, “How else can I help my customers at this time?”
Maybe you can offer a new product or create new kinds of content. Perhaps you decide to offer your current customers a discount on new purchases. You might consider partnering with another brand, bundling your services, and creating awesome package deals.
By better servicing your current customers at this time, you’ll build greater loyalty. And loyal customers are the best brand advocates out there.
4. Find New Opportunities
A “new opportunity” can manifest itself in a variety of ways. For example, jumping on a social media channel that your company has never used before could be considered a new opportunity. Here are a few other ideas you might consider implementing:
- Membership Groups: A membership site is a great way to earn recurring revenue month after month. Does your business sell digital products? Consider giving your audience access to all of them for a monthly fee instead of selling each of them individually. You can do the same thing with specific kinds of services. Get creative and see if you can package your offerings into a monthly subscription of some kind.
- Affiliate Marketing: Some businesses are struggling because their products and/or services aren’t in high demand right now. Take, for instance, barbers. Very few people are looking to get their haircut. In order to stay afloat, these folks could become affiliates for hairdressing products and sell them to customers who are interested in cutting their own hair during the pandemic. Your business might be able to use affiliate marketing as a way to help boost revenue too.
- E-Commerce: If you haven’t already jumped on the e-commerce bandwagon, now is the time. People aren’t venturing into brick and mortar stores nearly as much as they used to — but they still need to buy things. If you offer your products and services online, you’ll be able to reach your ideal customers in this uncertain time.
In times like these, businesses need to get creative to generate revenue. Look for new opportunities to win customers and make sales during the pandemic.
Market Your Way Through the Pandemic
The novel coronavirus has completely changed the way we work and live. Despite this, you can still put yourself in a position to succeed by promoting your brand in strategic ways. The four tips covered in this article will help you market your business during the pandemic:
- Use Appropriate Language
- Redirect Your Marketing Budget
- Focus On Your Current Customers
- Find New Opportunities
How is your business handling COVID-19? If you have additional tips to share, we’d love to hear about them in the comment section below!