During these difficult times it’s important to know the strengths behind investing:
The coronavirus outbreak is affecting almost every part of life all over the world. With the global economy uncertain, businesses are shifting strategies to work smarter while preparing for these uncharted territories.
History has shown that companies who strategically invest in marketing during
recessionary periods tend to come out on top. An article published by Forbes evidences multiple brands that have profited from doubling-down
on their marketing investments during economic slides. A key example would be
the household brand Kellogg’s, who doubled their investments during the Great
Depression. As a result, their profits grew by 30%, placing them leagues in
front of their counterparts.
HOW CAN MARKETING BE PROFITABLE FOR BUSINESSES DURING COVID-19?
People will still
require your products or services, even if they are self-quarantined for
fourteen days at home. Whilst social activity continues to decrease, there is
likely to be a surge in online activity. With more people at home, their time
spent online may be longer than usual, meaning they are even more likely to see
your online marketing efforts.
EDGE Creative can
support you in an investment like this, helping you to get in front of your
target audience when they need you most during these uncertain times.
IN TIMES OF SHORTAGE, PEOPLE TURN TO SEARCHING ONLINE
There has been an increase in panic
buying across the UK out of fears of supplies running out during lockdown. When
goods are scarce on the shelves, consumers are likely to start searching for
them online. If these are then not available, consumers will search for
alternatives.
Even if you are not offering the exact product or service which consumers are looking for, by appearing in the search results, through search engine optimisation, your business can be the recipient of a windfall.
By assessing the need and rank for
specific items and assessing the ranking topics around those items, you can
build campaigns around alternatives for products or services that are hard to
find.
PROVIDING YOUR AUDIENCE WITH WHAT THEY NEED, WHEN THEY NEED IT
When experiencing a budget crunch, it makes sense to move your marketing efforts to engaging those consumers with a more immediate intent to buy. Market research, data analysis and paid advertisements allow you to build your digital presence and do just that.
The data gathered
allows you to evaluate your buyer’s behaviour and pivot your marketing efforts
based on reliable, relevant, more focused and more accurate data. By gathering
this information and reacting fittingly and changing your marketing tactics,
you can gain trust from your audience and economic stability during this
difficult time.
At EDGE Creative,
we can support you with this. We can utilise the data gathered from your
website and marketing efforts and move your budget to the most appropriate
methods to push sales or business. In doing so, you can appeal to the current
mood of your consumers. If budget is sparse, every pound you spend needs to be
tactical, and we can support you in establishing this quickly and efficiently.
BEING FLEXIBLE IN TIMES THAT ARE TEMPORARY
It is important to remember that
although we are currently experiencing a very difficult situation, we will come
out of it eventually. Whilst we are in the thick of it, you should remain
flexible to new things, collaborate digitally as much as you can, and make
quick adjustments if they are not working.
EDGE Creative will continue to support our current clients to the best of our ability during these uncertain times. We also welcoming new partners who are looking to take an active step in improving their marketing efforts. For more on how we can support you and your business contact us on 0121 355 8092 or email us at info@edge-creative.com
Looking for ways to make the most of your marketing budget? Have a look at some of our other blogs:
How to be efficient with your marketing budget – EDGE Creative