TIME TO ASSESS, ADAPT & PREPARE
Covid-19 has had quite an impact on our business and work lives, added to which is uncertainty because we can’t see too far into the future. Some companies are experiencing more downtime and in the world of marketing, print service providers are definitely seeing a drop off in sales and cancelled orders during this time. One thing we can focus for future growth is developing or adapting our marketing strategy. This is definitely not a new idea and of course part of the marketing process is to assess and adapt, but it’s a good idea to remind ourselves of what we should be thinking about.
Inform, support and be authentic
Marketing practices are looking a little different right now, but it is still important to develop solid, long-term marketing plans that will develop or continue to develop long lasting relationships with your audience.
Now is not the time for hard selling and short-term impact. The approach during a crisis when people are concerned with bottom lines is one of support and assistance, taking opportunities to inform intended audiences of how your product and service can really help. It is important to be authentic and identify what your audience really needs at this time and that means ensuring that your marketing planning is solid.
Assess your strategy and adapt
A good exercise is to look at your resources and assess what is working, what isn’t and identify where there are gaps you could fill. Ensure you have targeted your market and are not trying to be everything to everyone which would dissipate your marketing spend and diffuse your message. Look at a different metrics for measurement. Sales and revenues may be down, but a measure of engagement and form of engagement will give an indication of relationship building and guidance to future conversion.
As businesses have adapted to the restrictions imposed to keep us safe, trade shows are being attended virtually or an increase in budget on the following tactics:
- Online resources – content, video, 3rd party webinars
- Social media tactics
- Email marketing,
- Virtual events/seminars
- Organic search
For B2B marketers the focus has been on content.
- 34% B2B marketers expected budget increase on Content marketing in 2020 by 1–9%
- 12% of marketers will increase budget more than 9%
- 35% to remain the same as 2019
81% of B2B marketers believe that content marketing spend will give them the best return
Many businesses that have spent large proportions of budget on trade shows are having to rethink their activities. A leading direction at this time is to focus on informed and helpful content for customers and how it will get to them.
It is not enough just to have your website and social media profiles up and running, it is time to plan towards realistic outcomes in a rolling and timed strategy of activity that is measure against set objectives.
Take this time to assess, plan, create, engage and stay connected. Let your customers know that you are dedicated to providing help and support now and being service or product of choice when the time is right.
There is a lot of information available for marketers during this time but if you are interested in more specific help on developing a strategy that will ensure long-term relationships with your customers give us a call.