It would be a huge understatement to say that the coronavirus pandemic has dramatically altered the marketing landscape. Some of the strategies, tactics and messaging that were once acceptable and effective are no longer and different approaches have taken their place.
The way that businesses acquire new customers has also changed. While states are reopening in phases, in-person networking will likely be viewed as risky for a while. As a result, obtaining leads virtually has become more important than ever.
So, how can you successfully market your products or services during the pandemic?
Create or Increase Your Digital Advertising Budget
The cost of pay-per-click (PPC)N advertising has fallen due to a decrease in demand. Market uncertainty has driven many companies to pare down their advertising budget.
Organizations that ramp up their advertising efforts will come out winners thanks to falling demand, because the cost of PPC ads has tumbled along with the demand. Further enhancing the benefits of digital advertising is the surge in traffic on social media platforms. With many people still spending the majority of their time at home for the foreseeable future, the time they used to spend socializing is now spent online.
The equation of lower ad cost plus higher online traffic adds up to more digital advertising ROI.
The current situation is unprecedented in many ways and one of them is the market. Who could have predicted that toilet paper would become sought after and out of stock for months? This means that organizations need to be nimble in their approaches and responses. Prepare to pivot on a dime if necessary and have contingency plans at the ready.
Rely on Data
Budgetary concerns must be addressed and resolved in a timely manner with a volatile market and crumbling economy. An excellent way to trim your budget is leveraging data to track and improve the performance of your campaigns. Programs like Google Analytics are user-friendly and free-of-charge. That said, if your data analysis needs are more sophisticated, you should enlist the services of a good marketing agency.
Create Value for Previous and Current Clients
Landing new clients may be challenging for a while. You should still make an effort to add clients, but retaining current clients and reaching out to previous clients should become a priority. Strengthening your company’s value proposition is an excellent way of accomplishing these goals.
Think about how you can create value for clients. Ideas include:
- Creating a loyalty program. 79% of consumers are willing to purchase again from companies that have loyalty programs.
- Making original content that educates clients readily available to them; content that is relevant to current circumstances will prove especially valuable.
- Personalizing customers’ experiences with your brand; personalization greatly improves engagement.
- Ask clients for feedback; people want to feel like their experience and insight is valued.
Navigating the current marketing landscape takes some creativity, but it will be worth the effort in the long run. Think about it this way: Going the extra mile could mean the survival or demise of your business.