Since the spread of the coronavirus, we have all been affected in some way, which is why it’s important we follow precautions in order to slow the spread and flatten the curve. As we know, the main precautions are to promote social distancing and stay home, both of which have significantly changed the dynamic of our consumer behavior. Businesses have either closed or are unsure how to conduct business during this time. If you’re running a business and are wondering how to adjust your marketing strategies in light of the current situation, keep reading to find out why it’s important to keep advertising.
Continue Advertising to Grow Your Business
With many businesses unsure how to react during this pandemic, you can stand out by staying consistent with your advertising strategy. There’s likely to be a decrease in competition as some companies are either closed for the time being or are unsure whether to advertise as usual. So spreading brand awareness could stimulate more business, benefiting you in the long run. Businesses can also utilize the paycheck Protection Program, which provides the opportunity to keep employees on payroll to keep the ball rolling. Situations like these don’t last forever, so it’s important to stay relevant in order to retain your customers.
Market Share Opportunity
With less of a competitive landscape in times like these, there’s actually more opportunities for businesses to jump on, such as possible growth in market shares, improved advertising deals, and continued brand awareness. Anything you do now that your competitors are not can put you ahead. This is also a great time to expand your target audience. By continuing to advertise when others are not, you’re more likely to gain position in search results simply by continuing your marketing strategy.
Now more than ever, people are searching the web and spending more time on their devices. This means that there is a better opportunity for brand exposure online, so continuing to advertise can stimulate business. For example, the consumer electronics company Nintendo has seen a spike in sales as people are buying consoles for entertainment while staying at home. Word of mouth online can sell products alone if enough people are interested in the product or service, so continuing online advertising is a great way to gain brand recognition right now.
Strategic Marketing Efforts
People are looking for places that provide products or services that are no longer readily available, so let customers know what you’re doing as a business to provide service as usual. Now is not the time to stop your marketing efforts, but there are a few things to keep in mind during this time. Remember there are a lot of people who are distraught about the ongoing situation, so flooding advertisements could draw customers away. Stay on track with your regularly scheduled content or posts while ensuring your tone and message is appropriate at a time like this.
Stay in Touch with Your Customers
Staying in touch with your customers right now is also important. Being empathetic on social media and letting your customers know you’re there for them during this time can promote customer loyalty. It will also help you stand out against businesses that have gone dark, and possibly help you gain new customers as well.