4 Marketing Strategies Amid COVID-19

It’s no secret that the world is preoccupied with the coronavirus outbreak - at least in the short term. COVID-19 has not only caused a global health crisis and pandemic, it’s also critically impacted every facet on our national economy...and psyche.

Many economists and investors predict (or secretly hope) the economy will come roaring back, but what do you do in the intervening months? How do you survive shifting consumer perceptions, needs, and expectations? We’re all on a rollercoaster ride, yet businesses that can pivot quickly will fair better than those that are slow to react or adapt to new norms.

As you sit in your near-empty office and communicate digitally with your anxious workforce, consider these four simple marketing strategies to help you navigate in this challenging environment.

Communicate with Transparency

You likely have valid reasons to communicate with customers. If your business is critical to the public good – grocery stores, pharmacies, home improvement retailers, take out restaurants - then you may be communicating that you’re open, your stores are clean and sanitized, and you’ve taken steps to prevent the spread of the virus, i.e. conforming to social distancing criteria.

But what if you’re a B2B company? While it’s important to keep customers apprised of your current situation, think carefully about how much you share. We’re all being flooded with vast amounts of information, so make sure you communicate only what is relevant and necessary. Consider communicating changes in company policies, processes and procedures related to your products. If you’re experiencing shipping delays or backlogs, share that.

Whatever you decide to communicate, be mindful that it’s been a tough few weeks for us all. A little empathy and positivity will go a long way.

Continue Marketing and Communications

During this time, it’s natural that questions arise around how you’re going to move forward. Your customers are concerned. Your employees are anxious. Your supply chain is in limbo. Do you continue marketing as normal? Communicate the measures you’re taking as a brand to aid in the crisis? Should you push off planned announcements or new product releases? How much is enough and where do you draw the line?

Now may not be the time to make grand pronouncements or introductions, but it’s a great time to re-evaluate your marketing and plan for the sharp rise in demand that is expected. The following are ideal marketing initiatives to consider moving forward with in the meantime:

• Update your website: there’s no better time to build and launch - or re-fresh - a website that addresses the future of your business.
• Transition to digital platforms: is your business optimized for SEO or eCommerce? Do you have CRM in place? How about marketing and sales automation? If your workforce is idle, then now is the time to source, implement and train them.
• Evaluate your branding: in light of recent events, does your brand still convey the message and identity required to build trust and loyalty? Be creative. Be bold. Just don’t be complacent.
• Review your content: same goes with tools you’ve created to convey core messages and value propositions. Ask yourself whether you’re adequately positioned for the future that is sure to come.

Shift Your Focus to Digital

As many of us are forced to remain inside, our attention has shifted to smart phones, tablets and computers. In addition to being where your customers are, digital allows you to react quickly to change, take advantage of opportunities as they arise, and create targeted messaging that communicates specifically and effectively.

If your marketing plans call for dollars to be spread across retail, event, and other out-of-home mediums, consider reallocating that spend into a digital bucket that includes SEO, SEM, retargeting, account-based marketing (ABM), eCommerce, and targeted email.

Avoid the Temptation to Give it Away for Free

There’s a lot to be said about having empathy - for each other, for our community, and for our customers. As you contemplate the best way to meet customer demand, while being socially responsible, avoid decisions that may weaken your brand position.

In this time of ambiguity, there’s few products that can be given away for free that the market will immediately accept without question, i.e. surgical masks, N95 respirators, face shields, hand sanitizer, etc. Most everyone else in the B2B space has products with lengthy review cycles, require significant implementation and integration, and extensive staff training. If you’re in healthcare, for example, hospitals and providers simply don’t have the time or resources to evaluate and implement new technologies. They’re too busy saving the world.

With this prevailing uncertainty, many companies are holding off on critical purchase decisions or investments until we’ve turned the corner, flattened the COVID-19 curve, and are on a path towards normalcy. You worked too hard to build your brand’s value to see it diminished by market apathy or malaise. Instead, hold the course. Look for opportunities where you can help and add value - just don’t leap forward and give it away. Instead, evaluate, strategize, and be prepared to strike when the time is right.

It’s impossible to predict when things will go back to normal, but we will get there. What we can do now is support one another and prepare for the future. Your marketing efforts may have changed, but they need not have stopped entirely. There are many things you can do to strengthen your position and take advantage of the opportunities that are sure to arise.

Richard Allan Marketing, LLC delivers full-service branding, marketing and communications solutions to clients looking for something more than your typical agency. Check us out!