Marketing During COVID-19: Advice and Best Practices
Organizations Can Not Only Survive, But Thrive
Unexpected events such as floods, earthquakes or epidemics can rattle even the most prepared business. The events that have unfolded in the past several weeks have demonstrated that it’s important to have well-document strategies for your business that are based on sound data and can be revised quickly as economic conditions shift.
During this time, I suggest that you have the right individuals participating during your internal conversations about business strategy and marketing. Be mindful that your initial reactions can and will affect the perception of your organization and it’s smart to have an external (third-party) voice participate in these conversations.
Don’t Exploit the Situation
Don’t Stop Marketing
It’s easy to “turn off” your marketing. It’s extremely difficult to rebuild your momentum when you attempt to turn it back on. Studies going as far back as the 1920s indicate the advantages of maintaining or even increasing your marketing budget during a weak economy.
The relative noise level in your particular industry might drop as competitors cut their budget, creating an opportunity for you. This is also a great time to project stability and strength.
As my long-time business advisor Ron Finkelstein said, “I’ve seen companies cut marketing in times of crisis and it’s the single biggest mistake they can make.”
For many of Hersh PR’s service-based business clients, offering discounts would immediately cheapen the brand. Right now, it’s wise to focus on brand-building initiatives that support your mission. Remember that clients will return and will be in need of your products and services.
Flex Your Creative Muscles
Now is the time to flex your creative muscles. Try something you’ve been thinking about for ages but didn’t have the time to implement. Create the video you’ve been brainstorming, but perhaps held-off because you wanted the production value to be “perfect.” Leverage the resources you have and market heavily to your existing clients. They need, and probably want to hear from you.
Many organizations don’t know how to market during times of uncertainty. If you have questions or want to discuss next steps, don’t hesitate to contact us.
*Generating action such as a phone call or a sale from potential clients will involve a level of healthy fear. For example, you can give clients a feeling of exclusivity without using doom and gloom.
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