MARKETING FOR BUSINESS GROWTH
Businesses across categories are shutting down or downsizing or just left in a state of paralysis due to the global health crisis and economic environment. High Overheads, Reducing Sales, Longer Sale Cycles, Long-term Financial Stability, Diminishing Cash Flow, Overwhelming Credit Cycles etc., are making it difficult and scary even for the boldest and most optimistic business owner.
But all is not lost and the future is actually a lot brighter and positive that we can currently see. It is just that none of us have ever had to deal with this kind of problem in our lifetime.
Yes, times are tough ... But they have always been tough
Yes, it is going to get harder ... But anything worth having, is going to be a fight.
Yes, change is difficult ... But without change how can things get better
“Your big opportunity may be right where you are now.”
~ Napoleon Hill
In the current pandemic, consumers are experiencing a Loss of Power. They are forced to change habits (e.g. going out with friends, movies, shopping, travel, indulgences etc) and adopt new realities (social distancing, face masks, higher hygiene standards, improve money management and so on). Our world has changed at least for the perceivable future.
People are innovative non the less (Friday night drinks with the boys continued … now via WhatsApp video calls. Weekend Family Movies continued … now movies are streamed).
The point is, while some things may change, Consumers will continue to want what they don’t have - (even during a pandemic) and will find a way to get it.
So how should Businesses conduct Marketing to Consumers in these trying times?
To find the answer, here are 4 powerful questions to ask and answer; considering the pandemic crisis:
What are the underlying psychological ~ emotional needs that people currently have, that your business can address?
What can your business do, so that people feel like they are back in control?
How can your business redesign the new fulfillment gap?
(i.e. provide the solution in the manner that your consumer wants it to be given to them)
How can you cater to those needs discretely?
MIND THE GAP(s)
Some businesses might already have campaigns in the pipeline, It is prudent to evaluate those campaigns to determine what needs to be paused right now. Some top campaigns might need to be pivoted to improve while others might need to reprioritised
Evaluate the Brand Language and Imagery being used. Bear in mind the current pandemic (reconsider images of crowds and physical interactions etc)
Avoid campaigns that appear to capitalise on the crisis ~ or at least tone them down
Shift focus from promoting premium products to entry-level/ everyday items
While no one can accurately predict the end of this crisis, it is highly unlikely that consumers will revert to prior habits even after the pandemic. The future is unwritten and is filled with endless possibilities, if you are up to the challenge.
Related Reading: Viral Marketing, Customer Centricity
Trigger Worldwide is a Brand Marketing Agency, built specifically for businesses to create Sustainable Growth. Our proprietary tools and process methodologies harness Technology, Creativity & Innovation, leverage Economic Drivers and Consumer Beliefs to help businesses overcome marketing inefficiencies and achieve their Growth Agendas.
“CREATE AN INSPIRED FUTURE FOR YOUR BUSINESS”
~ Trigger Worldwide
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