3 key business principles to apply during the Coronavirus crisis
The Coronavirus crisis has permanently changed the way we live and how we do business.
Are you unsure how to approach your marketing strategy during the COVID-19 pandemic? Are you working from home and struggling to find ways to get your customer’s attention? Where should we all prioritize our marketing budget and efforts?
In times of crisis, the strongest will survive. You are strong, and we are here to help you and your business survive.
There are three key principles to follow when adapting your marketing strategies to a crisis: protect, pivot, and profit. We will apply these three principles to your business’ digital marketing strategy and provide actionable steps you can take today.
1) PROTECT Your Current Customer Base
When marketing in a time of crisis you must first PROTECT your core business.
When a major crisis knocks us down, we are forced to prioritize what is most important. Right now business leaders are having to make hard business decisions. Do I cancel my advertising campaigns? Should I cut back on my marketing efforts? What can I do to PROTECT my current business?
Check in with Customers
Get a message out to your customers as soon as possible. Include these core topics: business hours, service or product offering update, new expected timelines, and reinforce stability. Let them know the basics and reinforce that you are still available.
A crisis may point out areas for improvement in your communication system to your customers. Do you have a good system in place that allows you to reach all of your customers quickly?
Write down the different communication channels that you can use to reach your customers.
Do you feel these communication channels will be the most effective?
Marketing Channels for Communication
Here are 5 key marketing channels that can be used to communicate with your customers:
- Website
- Email Marketing Campaigns
- Social Media Profiles
- Google My Business Listing
- Industry Specific Directories
What action will you take today to PROTECT your business?
2) PIVOT Your Marketing Strategies
After protecting your core business, it’s time to PIVOT your marketing strategies to meet the needs of your customers.
During the Coronavirus pandemic, experts have suggested people stay home. This change in behavior will forever affect the way we conduct business and live our day to day lives. Your customers are online now more than ever. This opens up new opportunities.
3 Ways to PIVOT
Stop and think about what your customer is going through. What can you do to best serve them?
You offer a valuable service or product. If you didn’t, you wouldn’t be in business. Consider these 4 ways to pivot your marketing strategies:
- Adjust the tone of your marketing efforts
Analyze what you can bring to your customers, both current and potential, and figure out how your message can rise above the noise. Connect with your customers and offer them value, consistency, and hope. Do this through your website, social media, and email marketing campaigns.
- Use content to serve and help your customers
What are the top questions your customer have? Create a list of frequently asked questions (FAQs) and provide useful responses. Add these FAQs to your website, send out an email campaign, or create informational blogs related to the core topics. Your customers have questions. It is your job to make it easy for them to find answers.
- Sell your product or service online
Restaurants were especially hit hard during the Coronavirus pandemic. One way they pivoted to stay alive was to offer online ordering, sell discounted gift cards, and offer meal plans.
Do you have the ability to sell your product or service online? More than likely the answer is yes. If it is not your main product or service, is there something else that you can offer online that is of great value to your target customer? Now is the time to set up your ecommerce store to better serve your customer online.
Which of these 3 options can you apply today to PIVOT and keep your business alive?
3) Maintain PROFIT
So you have taken steps to PROTECT your business, you made PIVOTS to adapt to the situation, and now it is time to make sure your business maintains PROFIT.
How can your business maintain PROFIT during a crisis? The answer is simple, your business must sell to survive. The brands that don’t maintain sales in these tough times will likely struggle to survive.
Now is a great time to analyze your sales channels. Which of these channels is providing the most return? Which of these channels makes sense to continue during the crisis?
Find the most profitable and efficient sales channels and get busy. Your customers are waiting.
What step can you take today to get your sales team focused on PROFIT?
Take Action Now
In times of despair, the leaders will shine through. It’s time for you and your team to take action today. Apply the protect, pivot and profit principles to not only keep your business alive, but keep it thriving!
If you need help applying these principles or just developing a marketing strategy, The Green Hills Group is here to help. Contact our team today to discuss a digital marketing strategy that will keep you in business.
