Top 5 marketing tips during economic downturn

Wow, what a start to the year. The year that was supposed to be “the year” for many people. I guess it has delivered, just not in the way we hoped.

As someone who has worked in marketing for over 20 years now (yes, I’m old!), I feel like it is time for me to add my two cents worth to this conversation. I am not planning on mentioning “the c word” as I am far from an expert in health matters, but I have seen a few things in my days which might be helpful.

Here are my top 5 marketing tips during economic downturn  to help you navigate these tricky times.

1. Go back to basics.
   In the years before digital and social media we relied so heavily on great customer service. There wasn’t the abundance of choice or the shiny distractions of who could be better.
   Nope, we went to the business that treated us well, the business that knew we liked our marshmallow on the side without asking, they added that extra sample in our shopping bag that they just knew we would love.
   That’s right, we were loyal and our favourite businesses were almost like part of the family. Now is the time to up your customer service game, make life easier for people to buy from you – and enjoy handing their money over to you.
   If you are not clear on your why and values, now is the time to confirm this. Spend the time and get it right.
   Everyone is stressed and anxiety is at an all time high so be that one part of someones day that puts a smile on their face.

2. Don’t listen to the “experts”.
   All around the world marketing experts are encouraging you to keep advertising, even spend more if you can. After all, history proves that businesses that spend more on marketing during times of economic downturn bounce back quicker.
   That might be true, but we have never experienced a pandemic like this since the rise of digital marketing and social media.
   If you can afford to keep advertising, GREAT, you should do that but if you can’t and you need your cash to pay your wage or keep your business going, don’t.
   Now, I am not telling you to give up, not at all. Every business needs to retain a presence but this time round we have a free gateway into people’s daily life that we have never had before. SO. Post organically, even increase your number of posts, work on your SEO, get on Instagram stories, network in Facebook groups, add a new social media channel like YouTube or Pinterest into the mix.
   There are plenty of ways your business can be front of mind  in 2020 without spending dollars.

3. Learn new skills & get organised.
   Now is the time to create or streamline your business systems and processes.
   Been wanting to set up that CRM? Want to automate your email replies? Need a sales funnel?  Want to build a new website? Do it now.
   Then when the world returns to our new normal, you are ready and won’t face inevitable burn out as the business comes flooding back in and you scramble to keep up.
   While you are at it, do some online training and up skill yourself in those areas you have always been desperate to learn. With so many training businesses moving online, it has never been a better time to be a student.

4. Be innovative.
   As business owners we have to pivot sometimes.
   Now I’m not talking full rebrand based on a whim and hastily decided due to anxiety, nope, I am talking, create that product or service that has been in the back of your mind for years. That way you are going to be ready to launch when the time is right and will be one step ahead.
   Always wanted to set up that e-commerce site to compliment your bricks and mortar store? Do it now.
   Have a little side hustle you think has real potential – you heard me, start it now.

5. Be kind.
   People are stressed and anxious, not a great combination. As cliche as being kind sounds, it is more important than ever. Every person is fighting their own internal demons, be the person who changes someone’s day – for the positive.

Now I know some of these are open to interpretation and you need practical tips you can implement today. So here are some things any business can do today to keep their doors open a bit longer.

• Give a virtual shopping experience. Use FaceTime to walk your customers around the store, take their payment details over the phone then either provide a curb side collection or delivery service.

• Offer private shopping experiences. Allow someone to book a 20 minute exclusive time in your store to shop alone.

• Implement free local delivery.

• Upload popular items onto your social media account and allow people to phone order.

• Introduce take away and delivery services for hospitality industry shop owners. People are working from home, they still want their favourite coffee.

• Create and sell gift vouchers with no expiry.

• Move your classes or trainings online using platforms such as Zoom, Thinkrific, Kajabi etc

If you have a specific question or concern, why not join our free Facebook Group and join one of our live Q&A’s and get many more tips and advice in this rapidly changing environment.

Good luck, together we will get through this.

To contact us, our details can be found here.