Make these 3 Basic Changes to Your Marketing Strategy in 2020
Most, if not all, businesses started 2020 with a marketing strategy they thought would take their business profitability through the roof.
Most, if not all, businesses also realized only a month or two in that it would be a miracle if it even reached the roof.
But there was nothing wrong with their marketing strategy plan – instead, the thing that has changed the world as we know it was behind their failure to meet their goals too.
Whether you look at a marketing strategy for startups or for medium to large businesses, one thing remains constant – the plan needs to be custom-tailored based on the circumstances surrounding the business.
And right now, those circumstances consist of a crisis that has forced businesses to change the way in which they carry out their operations. Some have even temporarily been closed.
And they revolve around tweaking your marketing strategy so that it works for you during this difficult time.
But wait – there is a very important step to take before you make any amendments to your existing marketing strategy:
Welcome change with open arms!
With life taking a 180-degree turn with a new development every few days, change is becoming a vice for many.
People whose routines, processes, and entire lives have been turned upside down are trying to hold onto things they don’t have to change in an attempt for life to feel normal.
But in this case, we have to say, being open to changing your marketing strategy will only work in your favor.
See, the purpose of a marketing strategy is to give you direction and lead to results in the short and long term.
Even if the steps you take are not beneficial to you immediately, you will see a welcome change soon enough.
So, without wasting any time, let’s begin!
Marketing Strategy Change 1: Turn to digital advertising!
Are you used to advertising on billboards?
People aren’t going to see the billboards if they aren’t allowed to leave their homes.
Do you usually distribute flyers to get people to come check out your store?
Again, these will do you no good at such a time.
So, what is the solution?
You need to be where the customers are. And that is ONLINE.
Large corporations that have been hardest hit by the pandemic have reduced their digital ad spending massively. This has resulted in a drop in ad price that YOU can take advantage of.
Direct response digital ads are dominating the market in the current circumstances, according to a report by Reuters.
You should start creating ads that call for immediate action by consumers, whether that is in the form of buying a product or service at a reduced price, downloading a game, and so on.
Having said that, creating ads that promise a high ROI is an art.
Check out these resources before you attempt to give it a shot:
You can also reach out to one of our experts for more information.
Many businesses, unfortunately, have had to shut down their operations for the meantime.
That’s something you can recover from once you put those gears back in motion.
But do you know what you can’t recover as well from?
A diminished digital presence.
Did you know that during the lockdown, social media consumption has increased by 44% around the world (Source: Statista)?
People are freer than they used to be and are turning to social media, among other things, to keep them busy. And that gives you the perfect opportunity to engage with them.
You are the owner of a car enhancement workshop who posts on Facebook and Instagram a couple of times a week. You mostly post pictures of finished work, with a few auto tips and tricks here and there.
Because of the COVID-19 crisis, you are having to take a break from work. No matter how demotivated you may be, you cannot allow yourself to abandon your social media accounts.
Your consumers, as well as readers, look forward to your posts and that will not change. Heck, they need your tips and tricks all the more now due to shelter in place.
You need to maintain your social media activity, if not increase it. This way, you’ll keep in touch with your audience and potentially help them out of a pickle.
But most importantly, you won’t have trouble reaching them once your business is up and running at full speed again.
Think you need assistance with your social media? Check out how our social media experts can help!
You can also check out these super helpful blog posts:
Marketing Strategy Change 3: If you can’t sell products and services, start sharing information.
Buyer trends have changed immensely with the lockdowns in place. According to Survata, 64% Americans are reevaluating their spending in light of the crisis.
While online sales have gone up for most essential products that people cannot do without, other markets are suffering.
If you are a clothing store, for example, you are likely witnessing reduced sales because of decreasing purchasing power. While many people are working from home, MANY more have been laid off and are struggling financially during this time.
This means that they will not be buying non-essentials any time soon.
But this doesn’t mean that your business and what you do is completely useless at this time.
Instead of advertising products to your customers, use your skillset in a better way – change up for marketing strategy and start teaching them how they can do things on their own.
Let’s go back to the example we just shared: you own a local clothing store. Start sharing basic DIYs so your consumers can reform their closet. Share a tie-dye video so they can get creative with their kids. The possibilities are endless.
And this doesn’t just apply to businesses selling products. Let’s suppose you are a biz providing copywriting services to your clients. You can do a Masterclass on how to create an engaging social media post.
At a time where unemployment is a massive threat, teaching your followers and clients a new skill may help them out more than you think. And they will remember you for that once all this is over.
This is a brilliant marketing strategy for startups too. You can establish yourself as an authority in the field, as well as build an engaged audience.
So, what next?
Remember, your aim is to stay connected with your consumers and followers, offer them assistance where you can, and make their lives easier, as well as yours.
And to do that…
Are you convinced that you need to make some major (or minor) changes to your current marketing strategy? We thought so.
So what is the next step?
You need to revise your marketing strategy plan so that it suits your current needs and begin to implement it ASAP.
And if you are a little confused about where to begin, that’s okay! Get in touch with one of the experts at Canz Marketing and get a free consultation today!