The Coronavirus pandemic is unlike anything we have ever seen before in this country. The economy, in many aspects, has ground to a halt as people seek shelter inside their homes.
Fear, uncertainty, and doubt are on the minds of many marketers and business owners. How should they appropriately react in a situation like this? There’s no prior roadmap or guide to help those still open for business remain afloat.
While we don’t have a crystal ball, one thing is for sure—the actions you as a marketer or business owner take during this crisis can have long-lasting and far-reaching impacts over the next few weeks, months, and even years.
Fortunately, we live in the most economically prosperous country in the world. The chances of our society regressing back to the Stone Age are slim to none. Yes, there will be challenges businesses will face. Yes, this will most likely have a far-reaching impact on our economy long after the crisis is over. However, now is the time for action—not worry.
We want to share with you six tips on how as a marketer can weather the downturn, adequately prepare your business for the unknown that lies ahead and allow you to emerge from the proverbial storm more robust than ever.
Continue Your Marketing
Chances are you’ve lost at least some business to the COVID19 pandemic. While cutting out unnecessary expenses is natural, discontinuing your marketing efforts at this point in time is the worst thing you can do.
Your marketing efforts are the lifeline of your business that drives new customers and encourages existing ones to remain loyal. By stopping that completely, you’re effectively removing any chance of regaining lost income.
By letting your customers and clients know that you’re open for business and can serve their needs, it will help to maintain their trust and recognition of your brand. Your customers are facing the same fear and uncertainty that you are—by continuing your marketing efforts; you’re letting them know that you’re here to help them through this crisis.
Analyze the Current Market
In 2009, Harvard Business Review released a study that looked at the psychology of consumer purchasing behavior and habits during the Great Recession. It found that some groups of people will stop buying altogether, while others will continue to make purchases as if it was business as usual.
Analyze your market and segment your customers. Focus your marketing efforts on the demographic who are continuing to make purchases. These are the people who will help you see your business through the crisis.
There are plenty of free and paid resources out there that can help you gather this data and find intelligent insights as you create your new marketing strategy.
You’re probably familiar with the 80/20 rule that states 80% of sales come from 20% of customers. Identify who these people are and work to keep them happy. Communicate with them regularly and offer solutions to the unique challenges that they might be facing during this time.
For example, you’ve probably received more than a few “COVID-19” emails from vendors that you have done business with. Read some of them and look at how they reassure their customers that they’re still open for business and the various solutions that they offer to help solve problems.
Technology has advanced to the point where many free and paid software tools on the market can identify seemingly anonymous visitors to your website. You can uncover which pages or products they’re interested in and then reach out to them via a direct mail campaign.
With the marketing tools and technology on the market today, you can find out exactly who is using or interested in your products or services. For example, focus on those who visit your website. You can then create a direct mail campaign that targets these individuals.
There are Software as a Service (SaaS) companies, such as LEADMatch or LeadFeeder will integrate seamlessly with your website and provide you with contact information of those who visit your site.
By retargeting your website visitors via the Google Display Network or Facebook/Instagram Ads you can laser-target those who are actively browsing your website, looking at services or products. This will allow you to focus your marketing budget on people who are most likely to convert.
Stop Wasteful Marketing Spend
If you aren’t doing it already, now is the time to stop wasteful marketing spend. The best way to accomplish this is to track and measure everything. Several free and paid tools on the market will allow you to uncover which marketing channels are and aren’t performing the best.
Once you have a clear picture of which marketing efforts are driving the most business, you’ll be able to cut out wasteful spending and focus on what matters the most. Through this, you’ll be able to develop a long-term marketing plan that will help you see your business through this crisis.
Expect it to Last
The COVID-19 situation seemingly appeared overnight. Many businesses were caught unaware and didn’t fully realize the ramifications until sales started to slow to a crawl. It’s highly unlikely that things will instantly return back to normal once the “all clear” signal has been given.
Much like a natural disaster, the COVID-19 virus came on strong and will take many months to many years for the economy and consumers to rebuild. So, dig your heels in and prepare for the long run.
The best thing you, as a marketer or business owner can do is to keep a right mental attitude. If you focus on the negative, it can and will affect your ability to make clear and intelligent decisions. By focusing on the positive, you’ll be better equipped to pivot on a dime and quickly react to changing market conditions as the situation evolves.
Marketing Help in Raleigh
There’s no telling what will come from the COVID-19 pandemic hitting America. However, one thing is sure—you need to buckle down and focus on marketing to those who can keep your business afloat—no matter what the future holds.
If you would like to speak to someone about any of the above ideas, or need help with your marketing, give us a call.
At AlphaGraphics of Raleigh, we’re much more than a print shop. We’re also marketing experts who you can count on to help you when it comes time to market your business. To learn more about how AlphaGraphics of Downtown Raleigh can help with your content graphic design and marketing needs, you may email us, request a quote or call us at (919) 832-2828.