When you are in a violent storm at sea in a yacht, there are three key things that you do:
1. Batten down the hatches – literally
2. Trim the sails
3. Keep calm.
The pandemic we find ourselves in at the present time can be likened to a storm and whilst it is an unsettling and difficult time for us all, no business is untouched by this situation. More importantly, many businesses are having to work differently; with staff in remote locations and unable to meet face to face. Most are having to use the telephone or one of the myriad of video interfaces that are now available.
Such a storm is not easily navigated, and it is those that are best equipped that do so well. There are also business ‘pirates’ who are better able to respond to storm conditions and adapt quickly; using their inherent agility to raid otherwise impenetrable markets and establish footholds where they were previously unable to do so.
As a senior Marketeer, what surprises me is that so many companies either reduce – or totally cut – their marketing budgets when faced with such a storm. Why take such a decision and hand opportunity to your competition on a plate when your presence needs to be INCREASED to ensure your business rides out the waves of uncertainty that could otherwise sink you?
There are some basic things you can do that are cost effective and well worth considering, such as:
1. Review your website: Is it up to date? How are people finding your website? What initiatives have you implemented to get visitors there?
2. Communicate with your customers: Do they know your current trading status? Do they have to do anything different to contact you / purchase from you? Remind them that you are still around and thank them for supporting you.
3. Consider your product initiatives: Have you had to adapt to the current situation and offer a streamlined offering, additional products, does a product meet a demand that is more relevant now?
4. Don’t forget your social media presence: Are you updating all your platforms? Are you engaging with your audiences? If you have information that is useful such as data, research, interesting news from your industry, then share it.
5. Review your processes: If you are continuing your marketing activity, now is an ideal time to review your marketing plan and the processes you have in place, especially as some of these may have to change due to the current (and future) circumstances we find ourselves in. Does your CRM system need to be cleaned, updated, streamlined? Do you need to review your product lines? Is it time to review your KPIs and adapt your marketing analytics?
Whether your marketing has carried on during the pandemic, or you have had to reduce your expenditure, don’t forget that the effort you put in now will determine how your business trades over the coming weeks and months. More importantly, it will keep your business ‘front of mind’ and deny those pirates the opportunity to loot your market!
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