We are living in unprecedented times. COVID-19 has changed our day to day lives impacting how we interact with friends and family, go to the grocery store and the way we do business. Individuals and business owners alike are feeling the pressure to tighten their belts and scrutinize budgets as unemployment rates skyrocket in the wake of the COVID-19 pandemic.
If you are looking for ways to reduce spending as a business owner, you are probably eyeing up your marketing budget and looking to cut it back or temporarily stop marketing practices altogether. This is a common practice, but as most marketing companies and strategists will tell you, it is a faulty practice during a crisis.
While you might want to cut back on your marketing budget, you should also want to stay relevant. Right now the way to stay relevant is to let your target audience know that you are in this with them. During any crisis, we are drawn to and comforted by what we know, including businesses that we have connections with.
Social media marketing is a great way to stay relevant and continue to interact with your audience. In fact, social media usage has skyrocketed during the COVID-19 pandemic, so when you continue to market via social media you essentially have a captive audience that is reassured by your presence. Why wouldn’t you want to take advantage of the opportunity to cultivate these organic connections?
Figure 1: Source
Marketing is a Long-Term Commitment
We live and work in a fast-paced society; our culture is one that appreciates instant gratification, but marketing does not work like that. Marketing is a long-term commitment because work that you do today to market your business may not benefit you fully for a year. With an effective marketing plan, you are driving your brand message and making connections with current and future clients. You need to continue to make those connections and foster relationships to be successful.
Marketing During Economic Downturn Can Be More Effective
Believe it or not, studies have shown that marketing during economic downturns may be more effective than anyone would have guessed. While it can be tempting to cut your budget, stay in the game! Marketing during an economic downturn is effective because fewer people are putting their brand information out there.
Why is that good for you? With fewer people advertising your brand message will not get lost in the shuffle. In other words, more potential clients will have the opportunity to learn about what you do and why you do it, leading to a meaningful connection. While not every connection will result in an immediate sale, you are building brand recognition when others have chosen to go quiet. Take advantage of a less crowded stage and a bigger microphone.
Let Convergent1 Help You Marketing Amid Crisis
If you have decided that you don’t want to do away with marketing and you want to take advantage of the opportunities in front of you, Convergent1 can help. Search engine optimization, social media, video production, website design, marketing action plans, and email marketing are just a few of the services that we can offer to help with. With your determination to succeed and our marketing knowledge, you can come away from crisis better than ever.
Contact us today for a free consultation to set your marketing action plan in motion!