There are various opinions on how to market business during a crisis such as this one. People are unsure – after all, these are uncertain times and uncharted territories we’re living in.
The first thing we want to mention is to think of your marketing in terms of short, medium- and long-term objectives. It’s important to know where you should and shouldn’t be making changes. Also, remember that a one-size-fits-all approach rarely works, but here are a few principals and concepts that can be applied during the current public-health crisis.
Short term solutions are arriving in the near future. The crisis is likely having its most dramatic impact right now. What’s most important is to grab hold of the things that are
easily changeable, i.e. social media, ads, any other type of digital promotion. These can be
monitored and changed as needed. A good example of this is how some restaurants have shut
down their dining rooms but are still offering delivery and pick-up options. They all made sure
that their social media followers were aware of the new rules in place, new hours of
operation, and how they were handling sanitization around the restaurant. This has resulted in
positive feedback from the community and an outpouring of support.
With medium-term solutions, you’re looking at three to six months. While the changes won’t be as dramatic as the first one to two months, your strategy may need some adjusting for you to stay successful. This is the time where you should evaluate what tactics you plan to use in the medium term and think about anticipated performance during this time. Make sure your most critical lines and services will remain in demand during this brief downturn. This is also a prime time to focus on volume at a potentially lower ROL.
Long term solutions are classified as one to three years, and while there is no crystal ball
prediction concerning the current circumstances, it is recommended that clients don’t make any long-term changes during this time. As conditions and forecasts change regularly, adapting to change is something that should be at the forefront of your strategic plan. For now, though,
most companies should hold tight and not make any drastic changes that could potentially hurt
them in the future.
In summary, don’t make any hasty decisions. Watch the data and drive your decisions based on
factual information. Everyone is facing the same battle you are and keeping yourself and your
business positioned as best as you possibly can help you to reach the light at the end of the
tunnel. Your marketing and how you handle the next little bit will be the determining factor on
how you come out of the other side. Keep informed and keep safe.