How Investing in Marketing Now Makes for a Stronger Re-Opening Tomorrow
Economics has always been full of give and takes, ebbs and flows, supply and demand. COVID-19 has had a shattering effect on the global economy, and now — three months and counting into this pandemic — small businesses around the world are slowly opening their doors.
But after months of not seeing your customers, how do you securely bring them back into the fold? Proper marketing and communication will play an essential role in helping you regain their crucial business and support.
Don’t Push Pause on Marketing Spend
Lots of expenses are slashed during a recession, but marketing should not be one of them. Leading sources from Forbes to Harvard Business Review argued that to weather the storm, you must market through it. Your company’s visibility during a downturn absolutely affects its revenue when the climate returns to normal. And if you don’t invest in marketing during these times, you can rest assured your competitors are — and thus preparing to steal your market share.
Pivot to New Consumer Needs
Times have changed, and it’s possible your consumers’ needs have as well. If you are using this period to create a new product or service to meet their shifting needs, be sure to engage your marketing team. They can help you develop the messaging strategies that resonate with your target audience and help drive maximum ROI. And remember: all marketing initiatives should begin with your loyal customers first and then expand to lapsed ones, followed by prospects who have not yet converted.
Make the Buyer the Hero
Reopening your business requires a constant and steady communications plan: emails about the safety precautions your company is taking, social media posts showing your staff back at work, maybe even phone calls with your distributors or suppliers about scheduling and orders. Be a source of inspiration and hope. And throughout all of this necessary work, don’t forget one key ingredient: gratitude. Because of your consumers’ support, you have survived hard times and emerged as a beacon for other small businesses to look toward. Thank these consumers. In an appreciative email blast (and perhaps a phone call for more personal connections), make them feel like they are the hero. This will encourage them to keep supporting you while simultaneously showing how much you care. In these hard times, we will emerge from this better and stronger by sticking together.