Creating a Marketing Strategy That Works During and After COVID-19
A 2019 report estimated that the global marketing industry was worth $1.7 trillion.
Along with the massive growth in the industry over recent years has come a lot of change. Traditional marketing methods have made way for online marketing tactics like SEO and content marketing.
However, perhaps the biggest change in our lifetime has been the COVID-19 pandemic. This global health emergency has forced everyone in marketing to take a different approach to their work.
Read on as we look at how you should modify your marketing strategy in response to the COVID-19 pandemic.
Marketing Strategy in 2020
Let's consider modern lead generation strategies before the onset of COVID-19 for a moment.
As our attention began to move towards the online world, clever marketing executives began to focus their attention there as well. Where television, radio, and newspaper were once the media through which advertising primarily took place, social media, streaming sites, and blogs began to step up.
Some ad types translated well from old media to new platforms. TV-style ads, for instance, work quite well on streaming platforms like YouTube.
However, other forms of marketing are entirely new, and require executives to learn modern skills and approaches.
How Has the Pandemic Changed Marketing?
Doctors recorded the first cases of COVID-19 in America in January 2020. Since then, the virus has gone on to claim hundreds of thousands of lives around the world, and has brought many areas of commerce to a standstill.
Marketing has undergone massive changes in response to this.
Many people are unemployed and can barely afford to pay for basic necessities. Unfortunately, for these people, no amount of marketing of a non-essential good will achieve anything.
Also, many goods and services are now unusable due to movement restrictions. The tourism industry is an example of this; if you're working in the marketing department of an airline or package holiday company, there is unfortunately not much you can do to change the fortunes of your company right now.
However, consumer demand still exists. In fact, demand for certain goods and service is higher than ever.
For example, the video conferencing market has exploded since the onset of the virus. Office-based workers need a method by which to communicate without leaving their homes, and video conferencing tools have emerged as the best solution.
This is a limited example, but it speaks to a broader trend. For companies to survive, they need to find a way to capitalize on the "new normal." Marketing operatives, in turn, need to communicate to customers that they need what the company is selling, now more than ever.
As we move forward, we'll look at how to leverage this knowledge using both modern and traditional marketing techniques.
Inbound Marketing
In the world of online marketing, this is the strategy that has emerged as the most effective. Inbound marketing is any strategy which gets customers to come to you
SEO
Search engine optimization (SEO) is the science of getting your web pages to rank higher on search engines like Google. There are a couple of tools that are key to achieving this.
One is keyword usage. When you're writing a blog post on your website, you need to pick the word or phrase that is most central to the content and use this strategically throughout the post. Introductions, conclusions, and headers are particularly important when it comes to keyword placement.
Another key element of SEO strategy is linking. Having a good number of relevant external links shows search engines that your content is well-researched, which will result in better ranking.
Once you've increased the amount of traffic to your site, you should start to see an increase in leads.
Content Marketing
Content marketing is another means of selling products through online content. What sets it apart from SEO is that the focus is on creating high-quality, engaging content, rather than performing well on search engines.
Some commentators like to pit content marketing against SEO, outlining why one is better than the other. In truth, however, the two work best when used in conjunction with each other, rather than in competition.
Social Media
When it comes to marketing for small business, cost-effectiveness is key. You can't afford to spend huge money on an ad campaign if it doesn't translate to an immediate return on investment.
With this in mind, social media is a dream come true for marketing operatives on a tight budget. With an estimated 3.8 billion users worldwide, social media platforms can expose your business to countless new leads without any of the costs associated with traditional media outlets.
Of course, not every social media advertisement is free. While posting an ad might cost nothing, the best social media campaigns take time and effort to perfect.
However, this is absolutely a worthwhile investment. If you get your social media strategy just right, it will pay untold dividends.
This is especially true in the context of the pandemic, as people are spending more time on their devices now than ever before.
While there are professional providers of social media marketing, it is entirely possible to do it yourself.
Outbound Marketing
Outbound marketing is any strategy that actively looks for business. While inbound marketing gets the customer to come to you, outbound marketing requires you to go to the customer.
While inbound marketing is thought of as the winner when it comes to digital marketing strategy, outbound marketing offers advantages in some respects. There is a good chance that your marketing plan could benefit from outbound marketing strategies in conjunction with inbound approaches.
Cold Calling
Everyone has received a cold call in their lives. In truth, many people simply choose to hang up as quickly as they can.
However, cold calling is a numbers game. If you call 100 people in a day and 92 of them hang up on you, you still have eight potential customers to work with.
If you can convert three of those eight, that might well be a very good day's work.
The pandemic has left a lot of people sitting at home with more time on their hands than ever before. Where some of these people might never have responded to a cold call before, they might do so now simply out of boredom.
If this results in even one or two more customers a day, it could be a worthwhile pursuit.
Traditional Media
While online marketing has taken off at pace over the last number of years, traditional media still has a role to play in a complete marketing strategy. This can be especially important for you if your target market is a less tech-savvy one, such as over-65s.
TV
There isn't much that can add an air of prestige to a business like a television ad.
If you're in charge of marketing for a small business, especially one with a more traditional customer base, now might be the time to find room in your budget for a TV ad.
Radio
There are a few reasons why radio advertising is still hugely relevant.
One is that it captures the attention of the passive listener. Pretty much every car in the country has a radio, and many drivers will turn theirs on simply to fill the silence.
This is equally true of workplaces, waiting rooms, and other public areas. For whatever reason, people like to avoid dead silence, and more often than not they'll use the radio to achieve this end.
This is a dream opportunity for advertisers. If you can plant a well-made ad into the right time slot on the radio, you'll reach thousands of listeners.
Another benefit of radio is its local focus. Every big town and city in America has a local radio station.
Therefore, small business owners can target ads directly to their customer base. Are you selling used cars in Muskogee, Oklahoma? Call up your local radio station and tell your city about it, and you can be sure you're reaching the people you want to reach.
Newspaper
Print media still remains hugely popular, especially among older generations. For many people, the feel of a physical newspaper will never be replaced by a laptop, tablet, or phone.
While there has been a definite decline in the popularity of the daily newspaper, this has been mirrored by a fall in the price charged for ads. Advertising your brand in a newspaper has never been cheaper, especially since the onset of the pandemic.
With paper deliveries ongoing around the country, this is a definite marketing opportunity.
Reconsidering Your Brand
With the priorities of many consumers now turned on their head, the effectiveness of certain brands may be diminished. Conversely, of course, strategies which rang hollow before may be just what you need to drive sales today.
Consider how the following qualities relate to your brand.
Empathy
People always respond to businesses that understand their concerns.
Given today's situation, the tone of your ads needs to reflect the seriousness of the pandemic. Now is not the time for flashy themes or irreverent campaigns. Right now, you need to show people that you understand the sadness and stress of the situation, and that you feel it too.
Moving forward, however this approach should change. When trends in relation to the virus start to improve, it might be time to consider a more upbeat marketing strategy.
Capitalize on New Trends
The COVID-19 pandemic has changed the way we live and work in the short-term. However, many of these changes are likely to stay with us in the longer-term as well.
One key example of this is people working from home.
There had been a shift towards working from home in many areas even before the onset of this pandemic. Office space is at a premium in many congested cities, and traffic and public transport overcrowding had made getting to work a bigger ordeal than work itself.
COVID-19 is sure to bring this even more to the fore in the months and years to come. This will create many new opportunities for products and services that facilitate working from home.
Prioritize Selflessness
A business that can show that it has priorities other than its bottom line will attract a lot of customers.
Consider making a charitable donation of some kind through your business. A local hospital or charity for elderly care might be particularly appropriate in view of the pandemic.
Not only will this benefit your community, it will paint your business in a very positive light. Marketing for change is highly effective, especially in the current climate.
New Opportunities
Despite its devastating public health consequences, the COVID-19 pandemic has opened up many opportunities. If you're in a position to invest, there are a number of reasons why this might be the right time.
We've looked at some of the most significant of these here.
Low Interest Rates
In order to prevent excessive negative growth in the American economy, the Federal Reserve lowered interest rates to almost zero as the pandemic was beginning to take hold. This makes it a great time for businesses to borrow money.
If you don't have the capital to fund a new marketing plan, consider taking out a loan. This may be the best time there has ever been to borrow money, as long as you have a viable plan to pay it back.
New Markets
The pandemic may have shut off some markets to businesses, but it's also opened up many more.
The video conferencing industry, as we mentioned above, is just one example. Other tech solutions are likely to come into greater demand going forward as well.
If you can identify an area in which there will be an unmet demand before your competitors can, you will have success.
Cheaper Paid Ads
As fewer businesses are advertising, ad space has become cheaper. This is true online as well as on traditional media outlets.
If you can afford it, you'll never get a better deal on an ad than right now.
Making the Best of a Bad Situation
The COVID-19 pandemic has unfortunately affected all of our lives. Even those of us fortunate enough not to know anyone who has contracted the virus itself have felt the effects of movement restrictions on our personal or business lives.
However, this seismic shift in the world's lifestyle has presented businesses with an opportunity to rethink their marketing strategy. The changes you make now could keep your business competitive for years to come.
If you'd like to learn more about the value our DIY marketing strategies could add to your business, contact us today.
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