The first most important thing to do right now is to “Breathe”
There is no doubt that we are facing a major worldwide event but this is not the first time the world has and it might not be the last.
There are things you can do that will help ensure you and your business survives this.
Recession and even economic depressions have happened before. Interesting some of the most innovative, ground breaking new business models have come from recent recessions and even depressions. However the trick is to survive them, marshal your resources and remember not to be taken in by the atmosphere of doom and gloom.
In uncertain times the tough get going.
They innovate and pivot to meet new and evolving marketplaces.
They create their own opportunities and disrupt business models.
What we don't know
- How long this is going to last?
- Sadly, how many people will die
- What new conditions Governments may impose on us short and long term?
- What the business environment may look like short and long term?
- How this will change buyer behaviour – but we can make educated guesses?
What we do know
- The number of people looking at social media is well up – estimates say by about 20%
- There has never been a cheaper time to advertise as ad spend on FB is significantly down
- More and more people are discovering that they can buy via the internet
- We will need to pivot and innovate to survive
- It’s going to be tough for a while but will get better
- If you don’t stay front of mind with your ideal client your competitor will
- Many businesses are still making money right now
- It’s a great time to work on your business strategy and infrastructure – get that to do list right down to zero
- Take the time to self care, be there for your family, your pets and yourself
- You don’t need money to innovate and pivot
- If you don’t know how to keep your business alive then reach out. So many top marketers are currently offering free or heavily discounted services.
- Businesses are needing to find ways to work with virtual teams.
- You need to look after those clients who are staying with you. Don’t do what I have seen other business owners do, which is to tell them not to keep buying your services. Be careful what fears you have that you infect your clients and staff with.
- Don’t wait forever to come out the other side. It is better to be too fast than too slow.
Build Relationships | Be Authentic | Be Human | Surround yourself with Winners | Be a leader
Types of Marketing Activity - What is working right now?
- Lead Generation - people still want to talk. In fact they now have the time to talk but don't try and sell them.
- Building Audiences - making sure people know who you are, where you are, what you offer and most importantly how they can stay in touch with you when they are ready to buy. Retarging is critical to surviving this.
- Good old fashioned organic marketing - the free stuff.
- Ecommerce if you are selling health related items. For other Ecommerce people are still browsing so make sure you have Google Analytics and the FB Pixel installed for retargeting. There is reports of sales but it is very up and down at the moment. Place your budget on top of funnel awareness (traffic) rather than conversions. Give people a reason to come back to you once they feel more like buying. Extend discount voucher times.
- Educational campaigns - especially for parents at home struggling to keep kids occupied or adults looking to expand their skills. Udemy and other educational institutions are going hard with ads right now
- Long term products - cars, houses, investment even holidays. Yes they are not wiling to commit right now but are still looking, so stay front of mind. Most people will be optimistic that this will eventually pass as it is human nature not to be fatalistic. Yes some will but let them wallow in the end of the world scenarios.
- Home entertainment - apparently board games are back in vogue. Netflix, Stan and other live streaming platforms are booming. Gaming has never been more popular. People have more leisure time than in a very long time and are seeking to entertain themselves.
- Get onto YouTube and do it now!
- People are still willing to interact with their favourite brands and businesses - in fact more so than ever. Now is the time to use that groups, emails, bot lists, followers or likers on your social media. They are hungry to connect and hear how you are doing. Make it personal, make it inspirational, be a leader and inspire.
- How can you reinvent what you are doing? Heard about all the fitness instructors now offering online classes?
- Do you offer a service that provides career change counselling? Now is your time to star telling people you are out there. Thousands are now unemployed and are looking for the next step in their lives.
- The niches that are booming include: Lawyers, wealth and savings management funds, credit services, staffing services, health and elderly care but there are many more.
Where to from here?
I could go on with hundreds of ideas gained from thousands of hours of talking to and implementing marketing for many clients but general advice is not what you need right now.
You need someone who can look at what you are doing and help you brainstorm what will work.
What are you waiting for?
