Why investing in marketing is essential during COVID-19
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
