It’s been a tough few weeks for, well, the world as we navigate a new normal amid the coronavirus pandemic.
During this time, there are many questions that arise around how you should move forward—do you continue marketing as normal? Should you address the situation at hand? Do you communicate the measures you’re taking as a brand or make yourself scarce in the inbox? Should you push off that large announcement or new product release? How much communication is enough and how much is too much?
It can all be a bit overwhelming. Businesses need to produce clear direction on how they will proceed in light of the Coronavirus. To help we have put together 5 reasons your businesses should have a marketing strategy during times of crisis.
Retail is shifting from brick-and-mortar stores to online
With consumers, self-quarantining and stores closing brick-and-mortar stores are being forced to make the move to online. Online businesses have taken over and revolutionized how people shop and consume. The recent epidemic has further proved why online businesses must be able to pivot to continuously changing conditions. The quarantining of individuals in their homes has not only increased the traffic of online viewers but also increased the demand for convenient and efficient business practices. This includes online shopping, delivery, curbside pickup, drop-off, and more.
Businesses that never had a pick-up or delivery service are now struggling to adapt and procure the proper equipment, software, and labor to shift their current business style into a more modern approach. It’s time to switch gears! Listen to your customers, adapt, and solve a problem. If you already have a system in order, go ahead and start implementing it. More people have occupied the internet to pass time during the quarantine. Maximize your funds and time to reach out to everyone online.
Manage the Potential in the Crisis
You, as a small business owner, have access to more online resources than businesses in the past. You have the internet, the new sector of gig economies, and new software for payment and processing. If your business can help alleviate daily issues for quarantined individuals then use this opportunity to grow customer relationships and create new ones.
Financing with Crisis Interest Rates
For many people, it seems intuitive that with a crisis and financial distress, you should be keeping as much capital in the bank as possible but the truth is that now is the best time to start marketing and operating your business with loans and other financial avenues. The Federal Reserve tends to lower rates during financial distress to increase the number of loans and thus pumping money back into the economy.
If finances have been your excuse to market and sustain your business then now is your time to shine. Take out the necessary amount needed for your business only. Do not fall into the temptation of extra money and start consuming recklessly.
Outsource The Hand On Deck
Unless you have training and education in marketing, don’t suffer with doing this on your own. Use the extra funds acquired from the previous tip and spend it on hiring the best help for marketing or other business tasks. This extends to delivery, packaging, virtual assistants, and other tasks that open up your schedule to grow the business.
Leverage Your Business to Be a Solution
There is nothing wrong with profiting and growing your business; however, the heart of entrepreneurship is the altruistic nature of solving a problem and helping the masses. There has recently been an increase in malicious business practices by individuals and established companies that have abused the limited supplies and have exploited the suffering during this crisis.
Don’t do that. Market your business as a helping hand, as a reinforcement of troops, and as the lighthouse amidst the dark seas. Follow all these tips and cautions to continue growing your business. People will remember that in their time of need, you and your business stood firm and held out a helping hand.