Many businesses are currently in a very difficult time due to the impact the Coronavirus has had on the world, causing many businesses to lose significant amounts of money. A lot of businesses make the mistake of cutting back on their marketing budget during times like these, which can be a tremendous mistake, as it has been proven that those companies that maintain their current marketing budget during difficult times outperform their competitors when they cut back on their marketing budgets. With this being said, it is not your marketing budget that needs to change, but your marketing strategy as the behavior of your customers begin to shift.
Our goal in this article is to help you better adapt your marketing strategy during the Coronavirus so that you can be one of the companies that outperforms their competitors and more importantly, stays in business after this epidemic.
Social Media Challenges and Stories
We are currently in a time where everyone is being forced to stay at home from work and school, which means boredom is really striking, you may even be experiencing it yourself. People are currently on their phones more than ever and have been forced to only communicate with their friends digitally. Because people are seeking entertainment, TikTok, the popular social media platform is currently experiencing an extreme growth in users during this epidemic. There has also been an increase in usage of Twitter, Instagram, and Facebook, which means it is the perfect time to take advantage of these platforms to promote your brand in unique ways, such as challenges and stories.
We have currently seen push up challenges, "see a shot, take a shot' challenges, beauty challenges, and more on social platforms as people attempt to overcome boredom after the self-imposed quarantine. This is a great time to possibly come up with a challenge of your own related to your business. For example, an ice cream shop can come up with a challenge between their audience or even their competitors on making the most unique ice creams! A pool cleaning service company can do something like a "How do you dive in the pool?" challenge, where people come up with unique way to dive in their pools! Whatever you decide, the purpose is to make the challenge fun and make people want to share it with their friends online so that your business can gain attention.
Another interesting trend we're seeing is many athletes telling stories of their careers and experiences. Telling stories is one thing that can really help both companies and professionals promote their brand during these difficult times in an entertaining way. For example, a financial services company can start a trend of having users on social media share the best financial advice they have been given. Marketing professionals can begin to tell stories about some of the more challenging obstacles they have faced in marketing and how they have overcome them. Video is currently very popular, therefor, it is in your best interest to make your story a video, where users can share it on platforms like LinkedIn or Twitter.
With more time on people's hands, this means people have more time to learn new things. This is an excellent time to create educational content for those who may be seeking to learn a new skill or maybe just gain more insight on a topic they are interested in. That being said, try to create educational content relevant to your area of expertise and share that content on social channels and blogs. Creating educational content gives you the opportunity to build credibility with your audience and this credibility may be lead to some much needed new customers during this difficult time.
With the spread of this virus, many people are experiencing new challenges in which they may have not faced before. As an example, gyms are currently closed, forcing many people to find ways to workout at home. Creating home workout videos would be an excellent way for a gym or personal trainers to educate potential and current customers during this time. These videos would not only build loyalty with current customers, but it could also attract new customers as they seek alternative ways to workout. If you are able to identify any new problems that your audience may be facing in their lives due to these changes, try to provide them with some educational content that could help them resolve their issues.
Data is beyond important right now. The behaviors of your customers are changing because the environment around them is changing. Your customer's income, the amount of time they have on their hands, what they prioritize, and more, is all very different than it was before. It is important to track how your customers behave overtime because this will give you better insight into how you should adapt your marketing efforts to these changes. Tracking and measuring data will also give you a better understanding of how your business is changing and what adjustments you need to make to stay afloat. It is possible that you may find your customers buying more or less of a certain product now.
As we mentioned before, consumer behavior is changing, and something we learned in the last economic crash in 2008 was that people became more receptive towards marketing messages that sparked emotions rather than marketing messages that were meant to capture attention via logic. In our current situation, it is possible that the marketing messages you were putting out before, may not have the same effect on your audience as it used to, so monitoring what works and what doesn't work now can really be a difference maker in the results of your marketing efforts at the moment. Depending on how complex your marketing is, you may have to measure the performance of email campaigns, ad campaigns, social media efforts, content marketing, and website traffic, as all of it will more than likely change and require adjustments. Using what you find in how the results of your marketing efforts have changed can be very useful in determining what you should keep and get rid of in your new marketing strategy moving forward.
Help with Your Marketing Efforts During the Coronavirus
Selva Digital is an analytics agency that offers analytics services and digital solutions based on our analyses to help your business operate more efficiently and drive sales, especially during these difficult times. Our analytics services help businesses create more effective strategies, better identify audiences, find areas of opportunities, uncover underlying issues, improve efficiency, and more.
Contact Selva Digital and we will help guide your business in the right direction by giving you a better understanding of your audience as their behavior changes and assist you in determining what the best decisions for your business are. Visit our website to learn more about us and how we can help your business by clicking below.