The Impact of Covid-19 on Marketing and the Best Ways to Deal with It
Working from home is gaining popularity due to the Covid-19 pandemic that has put the world under siege. To stop the spread of the virus, everybody has been asked to practice social distancing, avoid public places, and stay at home as much as possible.
While the end goal of all these preventive measures is to save lives, they’ve got a strong negative impact on business marketing and growth opportunities.
In this post, I’m going to address two major questions:
- What is the impact of the Covid-19 crisis on marketing?
- What are the best ways to deal with these newfound challenges and sustain your business?
Read on to learn the best possible ways to sustain your business and build strong communities during these troubled times.
What Are the Effects of Covid-19 on Marketing and Business Opportunities?
Bellwethr reached out to 400 small business owners based in the US to conduct a survey March 17-19. They found that 55% of business owners already seen negative ramifications for their businesses. Seventy-seven percent of them reported a decrease in sales and revenue.
Is that all? No. Covid-19 has also impacted other aspects of businesses.
According to the same survey results, 56.8% of businesses said that their employees are not able to work, and 42.8% of them reported delays in vendor or supply chain processes. Some businesses are also struggling with slower payments from clients.
Half of the companies reduced their overhead expenses while 71.3% of them reduced marketing budgets and ad spend. However, 67% of business owners said that they are making more efforts to retain customers.
These facts and figures are not everything. The world is also dealing with emotional stress, anxiety, and fear during these troubled times. Learn about Brand Value before you start your company to offer a better service.
How Can You Deal with the Effects of Covid-19?
As an alternative to face-to-face meetings, the most obvious solution for businesses is to focus on leveraging online marketing and streamlining remote operations. What’s the best way to do that?
I’d recommend that you use platforms that can help you connect and collaborate with your team members remotely. At the same time, you should try to connect with and engage your target consumers through digital channels.
If you find it difficult to manage it all on your own, you can also reach out to reliable online and social media marketing agencies to sail your business through these troubled waters. Due to the economic instability caused by Covid-19, it may be nearly impossible to get new customers. So you should put in more effort into retaining your existing customers.
Here are a few points that can help you retain your customers and build a good reputation for your brand.
Keep in touch with your customers and show them that you care. You should let them know that your business is still open.
Tell them what measures you’ve taken to ensure your customers’ and employees’ well-being during this time. And don’t forget to send them good wishes for their health and safety.
Pro tip: Use personalized email campaigns to send the right messages to the right consumer segments.
Leverage High-Quality Content
Consistently create high-quality content to keep your customers updated and informed. You should ensure that the tone and messaging are empathetic, positive, and light.
Publishing such content will not only help you engage and entertain your customers but also keep your brand on the top of their minds. Creating Covid-19 related content can help you get more likes and shares and increase awareness about your brand. However, you should carefully plan the content you share.
Pro tip: You can also use content marketing platforms to streamline the process of strategizing, content creation, publishing, and distribution. I’ve reviewed some of the best platforms to help you make an informed choice.
Listen to Your Customers
You should open a variety of communication channels so that your customers can reach out to you during these troubled times. It is important for you to understand your customers’ needs and show them that you care. Tell them how you can help them during the pandemic.
Pro tip: Encourage your customers to connect with you via email, social media, or a live chat solution.
The Future Sales Should Go On
You shouldn’t be so caught up in the current moment that you forget that things will eventually go back to normal in the coming months.
You need to think about the future and define your long-term growth plans. You can use this time to strengthen your customer relationships and find new business opportunities.