The marketing world is hit hard by the global pandemic, in the same year where the experts predicted to see an uptick for marketers from the events like the 2020 Tokyo Olympics. The Coronavirus outbreak has unsettled the stock market and caused operational disruptions to industries and impacted the supply chains impacting the businesses all around.
If you want to pull your business through this Coronavirus downturn, you should pay attention to how the situation is affecting your business. You may have to hold your resources for some time or you will find some opportunities worth a try.
Only through the strategic marketing measures, you can prevent any long term damage to your brand and customer base. The world could be a lot different even after the Coronavirus outbreak. You need to tactically plan and oversee the challenges. Meanwhile, keep your budget trim and reduce any unnecessary overhead expenses.
As more and more parts of the world are getting locked down and supply chains are impacted there is a visible demand for online retailers. Consumers switching to online purchases have sparked a shift to ecommerce. Consumer behaviours and consumption habits are changing and companies need to plan their next marketing moves wisely.
This is the time to invest in marketing tactics that drive online sales. With the spike in demand driven by the households stocking up goods and panic buying, businesses should reduce their marketing investments on campaigns to drive short-term sales or business outcomes.
You can promote at-home and delivery-based options like home fitness solutions/equipment, grocery delivery, etc. Shift your focus from the premium products to the everyday items. Use your analytics to understand and meet their needs.
You should sustain your interaction with your clients no matter what happens. Focus on delivering your brand message to people. Build your brand into the minds of the people, in a gentle and caring way. Experts recommend keeping your brand-building campaigns live throughout this pandemic phase. An effective branding campaign can draw attention and impact the thoughts consumers have about your company.
Channel your brand message through appropriate advertising to effectively engage with customers during the outbreak. It is disastrous to stop reaching out to your customers. Use this situation to reach out to current and potential customers through branding and messaging of general concern and care.
Boost your SEO
This is the right time to put some effort into your SEO digital marketing. You can take measures to boost your site’s organic reach. It is a cost-effective way to establish your credibility and online presence. Blanket your website with quality content and updates so that your search engine ranks remain at the top. Keep your brand in the customer feeds and build organic reach with fresh content. You may be facing a dull time in the sales, but that doesn’t mean people stopped searching for your products and services, so it is important to keep your engagement and reach in the same or enhanced rate.
Refresh your ROI
With changes in media supply and demand, you need to closely watch your expenses. Measure your market spend on areas like digital, you need to know how it is contributing to your investments through engagement. There are demand-driven price fluctuations in various media channels. Strategically plan your media allocations to cut down any wastage.
Optimize marketing budgets
Analyze and study the data on consumer behaviour, spending trends, channel effectiveness, and crisis-specific information. Leverage advanced analytics to support decision making and reduce risk. With this disruption and uncertainty triggered by the outbreak, a number of things could go wrong. Through scenario planning and optimization, organizations can meet their customers’ needs more effectively and survive the decline in business.