Discounts and Desperation
Offering 50% off your product for the next 6 months may be seen as helpful, but it could also be seen as just another sales offer trying to profit from what’s going on.
If you know your customers are likely to struggle and are considering cutting back on your service or product you could
pre-empt this. A ton depends on the product and industries your customers are in.
If you have a low-cost product for a large audience, the price is unlikely to be a big issue. However, if you have a mid to enterprise product, say for the travel industry anything you can do to help your customers save costs at this time will be helpful.
You may also need to consider more paused contracts and shorter contracts.
They’ll thank you afterward.
Don’t spend the deposits!
For many, this now may be a moot point. Yet it is necessary, ethically responsible, and overall good business. Don’t believe us? Look at the change in reviews for some competitors since the outbreak.
Don’t do anything controversial or “funny”
Whilst you may have a creative idea for a fun campaign around Coronavirus – our advice is ‘don’t do it’! Yes, we need to keep spirits high at this time, but you don’t know who will see your so-called funny meme or quote. It’s unlikely you will not have a client who has in some way been negatively affected by
COVID-19. This is not going to go down well and could have long term damage to your brand identity. You may have spent your life invested in your company, but one wrong share and it can all be demolished.
Changing Times
Priorities will shift both in business and people’s personal priorities and you must accept your service or product may not be top of everyone’s agenda right now! Many projects may go on pause or hold and have an impact on your leads and customer numbers.
Despite this Don’t stop marketing!
This virus is terrible, yet it is also an opportunity. Continuing investment in marketing or starting is going to be the differentiating factor in where you’re going to end up after this historical pandemic. You want to aim for growth as your competitors make cutbacks. Yes, the risks can be high for some, but if they are not taken you can be sure forward-thinking competitors will rise victorious.
Many studies show those businesses that keep marketing during a recession can gain big growth over their competitors that slow down or go out of business and can come out the other side a lot stronger. Go ahead and Google that for yourself.
Our Current Situation COVID-19
At the time of writing this blog, the situation is fast-moving affecting more and more by the hour. New York has essentially gone into lockdown, along with New Jersey and parts of our hometown Connecticut. This is a powerful enemy, but don’t for a second forget that we are much stronger.
Tough Times Ahead
We’re all in for a tough time now in business, and in our personal lives. Experience from previous recessions shows what uncertain times such as these are capable of. Coronavirus has proven to be fast pasted and unpredictable in nature. Don’t allow this enemy to define your future. Fight back, and don’t do it alone.
We’re here for all small business owners. Our purpose is to assist small businesses throughout this nation in uncertain times. We work with you, consider your personal circumstances and tailor-make comprehensive campaigns and strategies that have a positive impact on you and your business. We’re Promotonics Marketing Agency, an agency made for small business owners.
Expert Marketing & Communication Support
As your business shifts, so does ours. That’s why, whether you need a simple walkthrough on using social video, or you have questions about how to pivot your brand’s messaging, our expert marketing and communication team members are here to support you – FREE temporary 45-minute consultation with absolutely no obligations asked.
Ways We Can Help:
How to shift your company’s current promotional marketing to a communication strategy
What to communicate with your customers and the best methods
Additional resources and tools available to you
Website and social messaging recommendations
Ways to pivot your business into a “socially distanced” format
Please stay safe, distant, healthy, and driven.