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Store Sign Showing Closed To Change Marketing Strategy

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The world as we know is much different now than it was a couple of months ago. The pandemic has certainly altered the way we interact and do business with each other. It’s only April, but the marketing strategy you have carefully planned for 2020 may no longer be relevant at this time.

With most governments ordering lockdowns, business establishments that are deemed non-essential are required to close. As a business owner, you know how coronavirus has posed a threat even to the survival of your business. But what can you do given the challenges of these times? Can a new marketing strategy save your business? Is there a playbook on how to improve your digital marketing strategy?

As financial experts continue to debate on what the recovery will look like and how long it will take for the economy to recover, the fact remains that businesses must be proactive in their efforts to remain profitable.

A study by Nielsen reveals six key consumer behavior threshold levels that influence what types of products customers are buying at this time of the pandemic. Their report shows that in the first four threshold levels consumers are beginning to display predictable signs of spending. And they were even able to correlate how news outbreaks can be a significant factor to start pantry preparation purchases.

Nielsen Infographic On Key Consumer Behavior Thresholds For Coronavirus

Graphic by Nielsen

It’s clear that consumer buying habits have changed, as well as their perception of necessities. Because of this, every business must learn to adapt their strategies to be able to reach its changing market.

We expound on these changes and give you the reasons why you need to revise your marketing strategy to keep up in these unprecedented times.

1. Your market has shifted online

With most everyone under quarantine, we’ve turned to the Internet not just for news but entertainment as well.

But it’s surprising to know that the New York Times uncovered how instead of smartphones, users preferred visiting websites now. They determined that Facebook, Netflix, and YouTube have all seen an increase in their website traffic, compared to their apps that remained the same or had reduced usage at the time of the pandemic.

New York Times Internet Time

No matter how users access these social media channels, it’s evident that they are now spending more time online. If you don’t have a strong online presence yet, it’s time to determine how to improve your digital marketing strategy or speak with an agency that offers Digital Marketing Services.

2. It pays to spend on marketing even in a recession

Harvard Business Review states that marketing is a ‘good cost and shouldn’t be seen as optional. In this time of a pandemic, businesses should remember that it’s their loyal customers who will bring in the sales.

They also caution against going after another customer segment because it might only weaken your brand after this time of uncertainty. So the key lies in stabilizing your brand and making sure that your marketing efforts continue to convey your brand proposition. This can be done through Digital Marketing Services that carefully target your loyal customers.

3. Your audiences are in a very new mindset

Lizandmollie Meme On Coronavirus Mindset

Graphic by lizandmollie

Your market is probably not thinking about the same things they’ve thought about weeks ago. And they’re definitely not feeling the same way they did before this crisis started.

That said, your tone and your message have to align with your consumer’s mindset. Just like you, everyone else is concerned about the coronavirus and its effect on their life. In his article in Moz, Rand Fishkin recommends that the content you produce should be stuff that helps first. In a time of fear and panic, you would want people to associate your brand with helpfulness.

Whether or not you are writing about the pandemic, your digital marketing content should be able to display empathy and show usefulness at this time.

4. Your digital marketing strategy is no longer relevant

You may have prepared a marketing strategy not so long ago and you’re debating whether to launch or not.

It’s best to take a hard look at your content before making your decision, and Rand Fishkin offers his advice on how to do so. He says that if your product, campaign, or content is highly relevant to the current pandemic and you can position your launch to be helpful to those impacted by the crisis, you can forge on ahead.

Otherwise, you should wait it out. Your message might be misconstrued as insensitive and self-serving. You wouldn’t want that perception to stick to your brand.

5. Changing your marketing strategy at this time shows thought leadership

In a time when most people, even businesses are crippled with fear, everyone looks up to a leader.

Since business situations can vary depending on the type of product or service you’re selling, and whether you’re engaged in B2B or B2C the changes you would have to undertake in your digital marketing strategy may not be the same for every business.

For example, small businesses in the consumer sector will respond differently than bigger companies with high-demand products. Or companies selling big-ticket-items would have a different digital marketing strategy than those selling essentials.

McKinsey & Company offers business strategies in three stages. It starts with being responsive in the present through efforts such as supporting employees and empathizing with customers. Your business can also take on a digital marketing strategy to boost eCommerce sales for your website.

And finally, your marketing strategy should be able to look into the future by setting up business recovery action plans and imagining what the new normal will look like.

6. It allows you to be open to the opportunities that will come your way

New Balance Instagram Postjpg

Instagram Post by New Balance

Austin Brawner believes that new opportunities come out even in a crisis. He mentions how SnackNation made sure that they are able to continue sending out products even as employees transitioned to working from home, instead of in the offices.

With these changing times comes changing needs. The sooner your business is able to adapt and innovate ethical ways to deliver your products, the better.

Conclusion

They say that change is inevitable, but with something as tremendous as a global pandemic forcing you to adapt, there is no other choice. Whatever business sector you’re in, whatever the size of your company, and whether you’re already engaged in eCommerce or not, you have to make sure that your marketing strategy is still relevant to the times.

Because being able to change your marketing strategy in a time of uncertainty could be key for sustaining your business during this time of crisis.

If you need help making sure that your digital marketing strategies are virus-proof, wash your hands, and get in touch with us now.

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