‘Business revival always needs a marketing plan.’
Your customer has introduced new ideologies, new plans, new routines and new ways to move ahead in life. While he/she may be a customer gained earlier, he/she holds new behaviours today.
Bluntly said – you’ll need to undo your previous marketing strategies that worked for very long for your business.
Stay Calm – the plan by default.
Economies across the globe have slowed down. With business rolling coming to a halt amidst restrictions and safety precautions, it can be difficult to think straight. Being calm under heightened pressure is a requirement for firefighters, leaders, doctors; to name a few fields. Before we go onto see how to recover business, it’s important to know that this is a cardinal requirement today for anyone and everyone. Staying calm can give you larger visions and invite ideas to re-build. Try to set this as your default plan.
Now, that you’ve done so, let’s move ahead to see how marketing can help your business recover in this new era.
#1 Value-based marketing to address the new customer’s pain points
Don’t just promote your product. Re-position your product.
You’ll need to base your marketing strategies to address the hassles, pain points, worries and anxieties being faced by your customer – who too has gone through a whirlwind of changes, emotions, routines in merely three months.
Understanding your customer’s worries, design your sales to bring value to him/ her. Depending on your industry type, formulate a degree of questions that are/ aren’t bothering your customer. Instance,
- Is your customer worried about home supplies?
- Is your customer facing back problems due to lack of proper desk/ work essentials?
- Is he/ she worried about cash flows?
- Is he/she worried about how safe public transport is to travel to different points in the city?
- Is he/she still buying in bulk?
- Is your customer struggling to balance work, house chores, tame the garden, pets, etc. given lack of house help due to restrictions?
Now, don’t just promote your product. Re-position your product. Can your liquid dish washing gel help your customer save few more minutes by removing stains in one stroke? Can your cushions help improve back postures on a regular dining chair? Can your banking policy temporarily waive off interest payment from this to the next quarter? Can your cab service sanitize the cab post each rider’s ride? Can your fitness app afford to go free for a month to attract registrations?
#2 Be Ready for demand that is pent-up
If you notice around, there are two types of demand ongoing.
One is the demand for items that are actually short in supply. The need for certain types of daily vegetables, healthcare. Everyday efforts are being made to meet this demand.
The other is the demand that is curtailed to quite a great extent to secure one’s existing financial resource pool. This is the type of expenses made for entertainment, non-essentials, treating oneself at a spa or pub, buying a new watch etc.
With every minor relaxation introduced, people are trying to treat themselves (it can be purchasing funky home wear from the web or watching a paid stand-up comic act on the web). They are getting back to non-essentials – simply to feel good. Just like the good old days.
Be ready with marketing campaigns that can address this pent-up demand. Plan your offers, discounts, banners and delivery modalities.
#3 Pick marketing tools and channels wisely
Until February, I would head to the quaint bakery to purchase Danish bread right after my jog. This bakery gave me a useful insight. By now, the owner knows that he needs a website wherein one can place orders. But, he isn’t losing out business even in this interim period until his website is ready to launch. His daughter is taking orders on Instagram. She stays active on the app from 9 AM to 6 PM.
Although physical movement has slashed, the need for products and services hasn’t really. Sales within the store might have cut, but this doesn’t mean overall sales must drop.
For instance, as people wouldn’t visit a showroom, here’s what Mercedes Benz did. Using interactive video technology, Benz ran a campaign that allows customers to see a 360-degree interior view of the GLB SUV. Absolute Vodka tied up with local DJs and launched a live stream through a video sharing app.
Now is the time to leverage the best of marketing tools such as interactive video and mediums such as social channels. Another powerful marketing tool is corporate animation. The power of corporate animation is limitless and the beauty is that it can be executed in a remote manner. Corporate animation can literally help you create scenes in a video as well as enhance earlier shot footage. Right rom story boarding, illustration, element creation, working out graphics, editing your business’ story; your marketing advert can be conveyed in a damn good and impactful manner. Twisted Frame’s next blog article will talk on this in detail.
By adopting a value-based marketing approach for your business, you can increase brand repute, awareness and connect deeper with consumers who do need you – probably more than ever before.
At Twisted Frame, we’ve constantly been producing videos to get out versatile messages of multiple brands to their ‘newly shaped’ consumers in the COVID era. Do you want to educate, reinforce or entertain your ‘audiences with revised consumer patterns’ and kick-start business? Let’s have a chat as to how your business can leverage from the different video types through our Toronto video production and motion graphic services. Reach out for a free chat at (416) 619-1116.