It seems obvious or banal to state that COVID-19 has taken a severe toll on many businesses. For many companies, a harsh new reality is still evolving after being forced to suspend or reduce operations.
Some industries started preparing for the shifting market early on, but others did not. As trends became apparent and more data emerged, small businesses had plenty of room to adjust to the challenges brought by the pandemic. Many brick-and-mortar businesses, however, felt the pain of limited foot traffic as people were avoiding unnecessary trips and practicing social distancing.
In this article, we’ll use the COVID-19 pandemic to discuss and offer actionable strategies to marketers for adjusting their campaigns to reduce the negative impacts of a crisis.
Here are a few ways in which you can respond to these challenges:
Find the right opportunity:
It may look like the world has stopped for your business with so many economic and social changes during or after the pandemic. In truth, the opportunity may have shifted significantly but it is still there, and your business should make the shift in tandem.
A genuine approach towards helping your team members, customers, family, and friends goes a long way to establish you and your brand during times of crisis. It is the time to invest in ideas, people, power, and convictions during hard times.
Help customers in their homes:
Public health advocacy for social distancing made most people stay in their homes, either by mandate or by choice, as there is nowhere else to go. That meant customers weren’t getting what they needed, and sales were at an all-time low for many organizations. For example, being trapped at home with pain caused depression and panic, and many people with chronic and acute pain couldn’t go out to get treatment. Medical professionals began coming forward to help such people and supplied medicines at home or even made the entire diagnosis online.
Give free upgrades:
Although any organization can sacrifice some profit to help customers during this challenging time, the ones with low additional marginal cost can do it most profitably. For example, a significant part of the software product price is in the software’s additional development. However, this cost tends to be very low compared to the costs of bringing on new customers. Hence, it is safe to say that software firms are well-positioned to give free and very low-cost products and upgrades to customers.
Give freemium offers:
Some organizations provide free upgrades, while others want to provide a new entry-level offering using the freemium model. This will help customers get a downgraded and a free functional product, not just a demo or trial, with the option of upgrading to a premium product at a later date. Such firms are putting people over profit. The freemium model is a proven tactic that will pay back in the long term, and it is also a decisive action to help businesses continue the run during a time of uncertainty.
Give free product(s):
Free upgrades do help present customers. And while freemiums give customers a small idea of your product, giving away some free products can help you reach new customers with the whole customer experience.
Help people connect:
Social distancing has introduced a barrier in connecting physically with other people. Hence, reliance on social media platforms continues to grow, now more than ever. Businesses do not need to compete by creating a new social network. The good news is, there are many other ways to leverage the platforms that presently exist to tap into the current customer pool and solve their problems.
Provide relevant, helpful customer-first content:
Good content is an excellent approach to help customers deal with unique challenges. It also helps in generating interest and attention for your company. And in difficult times, you might have helpful information, especially about addressing specific niches and leveraging your company’s specific skills relevant to a crisis. Be careful, though, you can receive harsh backlash if you are found taking advantage of the situation for personal gains.
Hence, the content shouldn’t necessarily be very different from what you’ve produced before. It must have the ability to help potential customers in deciding to buy from you or not. Since it has its value proposition, you must lean hard into a customer-first marketing approach with it, even more than you usually do.
Whenever you are unsure about the content, ask yourself if this will help people in deciding whether they buy from me or not? The order here should be like this: Help people first and then guide them further in exchange for payment, information, etc.
Bring your entire business online:
Businesses should focus on their online presence when traditional stores and offices can not rely on foot traffic for revenue. All companies should continuously improve their online web presence, optimize content, and reach out to their consumers.
Promote your business on social media:
Customers look for updates and reassurances to confirm if you are still operating during pandemics and natural calamities. Some might check out your website or simply Google you while others might try to look for your social media posts. They might feel disconnected if they can’t find you on social media. At the least, create a free business page and offer periodic updates to let your customers know that you’re still in the game.
Optimize your Google shopping feed regularly by following simple best practices for descriptions, images, product titles, and taxonomy to ensure people easily find your products online. Advertising on social media is a must, and it is relatively easy. Such platforms bring plenty of sales, traffic, and loyal customers for a small budget.
Re-budget and adjustments:
Businesses faced an abrupt loss in revenue; hence prioritizing conversations in and around budget cuts and maximizing efficiency is essential. It’s better to measure ROI and then make adjustments and budget cuts as required. It will help keep revenue-generating tactics in place while marketing plans are being altered and adapted.
Alter your strategies:
Much has happened and changed as an indirect or direct result of COVID-19. Work culture is also changing as companies are continuing work from home and restricted travel policies. A lot of these new changes can be stressful. By sending concise, clear, and accurate messaging, marketers can calm the nerves of consumers.
While inventory management is crucial, stop advertising out-of-stock products if you don’t have them. It is wise to exclude these products temporarily from your shopping campaigns so that consumers are not confused. Businesses that run on tight annual budgets should consider reallocation of the budget towards more effective marketing periods.
Conclusion
With ever-evolving developments and mandates, it is essential to understand your audience, monitor performance, and remain agile in your marketing strategy during unprecedented times. If you’re unsure about responding to users’ volatile online behavior, put yourself in the consumers’ shoes for a while and understand their position.
There is no best response or one-size-fits-all solution that will work for every business during any challenging situation. Every organization will have specific nuances, and what works best for one might not be an ideal solution for another. The pandemic managed to freeze many industries and rendered some of the best-planned business strategies obsolete. It has been, and will remain, an extraordinary challenge for marketers to adapt campaigns and respond effectively to the ever-changing environment of the post pandemic world.
