After COVID-19 Marketing Strategies
After Covid – 19 Marketing Strategies
This pandemic will not last forever, so get prepared now for how to market your business after the pandemic. There is supposed to be a big boom, so get ready, get prepared, and don’t get left behind. We have compiled these articles to assist you in that preparation.
Marketing Strategies to Grow Your Business After COVID-19
The prolonged lockdown to counter the spread of COVID-19 has been lifted or is being eased in phases. Businesses are resuming operations in whatever capacity possible, but uncertainty is still staring everyone dead in the eye. The conundrum to save money wherever possible if things get worse or grab the attention of customers is plaguing the marketers and executives all around. Some companies have completely frozen their new customer acquisition and customer retention budgets and plan to wait until they deem it safe to resume.
Freezing Customer Retention Budgets May Be the Wrong Idea
Freezing customer retention budgets will land these businesses in trouble. A survey by the American Association of Advertising Agencies states that 43% of consumers find it reassuring to hear from brands during this lockdown. Without an allocated budget, the business will not be able to reach out to its customers. So, a competitor could market to the business’ customers and steal them away, leading to a reduction in business. This is a perilous situation for any business.
In our last blog titled Is It Possible to ‘Pandemic Proof’ Your Business? We emphasized how an engaging customer loyalty program can set your business up for steady growth. A good loyalty program has many facets. The most important aspect of any customer loyalty program is targeted marketing campaigns to increase customer acquisition and retention.
Customer Loyalty Programs: The Silver Bullet for Growth
To achieve effective targeting, data science and user segmentation can make all the difference. Data analysis can help you set up an optimized customer loyalty program. Machine learning techniques can use insights from customer buying behaviour to segment loyal customers into user clusters. A separate promotion strategy specific to each user cluster is an efficient way to customer retention budgets. This clustering and targeting technique enables businesses to maximize revenue from existing customers.
With marketing budgets being tighter than ever, user segmentation will help marketers use their budgets efficiently. With businesses currently struggling with reduced revenue, loyalty programs operating with efficient customer retention budgets can prove to be their silver bullet for growth. Retention is the new growth. With a targeted approach, businesses can be the success story that others want to emulate.
Post-Pandemic Marketing Strategies With Long-Term Benefits
As the world grapples with COVID-19, it is imperative to consider what the post-COVID world is going to mean for those of us in the digital marketing realm. The pandemic has accelerated the speed at which we are “going digital” and has given new power to many online industries. Never before have we been so dependent on Amazon or Zoom to get through the day, which means that we want to make decisions that use this new reliance on technology to our advantage as digital marketers.
This article is going to cover six ways to do that. I’m going to discuss:
- The strategies that you can and should put into place to market successfully in a post-pandemic world.
- Tools you’ll want to have by your side to increase your efficiency and increase your ROI.
- Ways to use your pre-COVID foundation to build a well-run system that works for you.
1. Focus on the customers you already have
If you are struggling to bring in new customers, try focusing more on those you already have or who are still with you despite the economic downturn.
In addition to creating services and ad campaigns to target their new needs, you may also want to issue refunds to clients who had prepaid memberships or were on auto-pay during the lockdown period. While this could hurt your cash flow for the short term, the money you give back will most likely come back to you tenfold when the economy restabilizes, and your now loyal customers are ready to start buying again.
Neil Patel, for example, started to offer his premium UberSuggest features with the free version. But while he saw a decrease in free trial signups, he did see an outpouring of appreciation from dozens of people within the industry, emailing and thanking him. Some even buy the paid plan as a gesture of their gratitude.
Also, while he did not see more money coming in, he DID see more traffic coming in.
The point is, look out for your customers, clients, and coworkers when times are tough, and unemployment rates are high. They will thank you for it in some way or another. And you will likely see growth in other areas such as customer loyalty, brand awareness, organic traffic, social media engagement, and maybe even new prospects.
2. Move everything online
With the lockdowns and travel restrictions of the pandemic, it’s no surprise that everything is shifting online. Scott Jones, the CEO of 123InternetGroup, told Forbes that they had seen a spike in companies who want to create or update websites, create new social media campaigns focused on home-based workers, and focus more on eCommerce trends and channels.
Now is the time to increase your online presence. You likely already have some of your business functions online (perhaps you’re using one of these 64 affordable online marketing tools), but the pandemic has shown us just how much more we can do online.
For example, you could automate your email communication or even your services. iNECTA, a cloud ERP software for the food industry, now allows customers to receive merchandise, track lots, create invoices, and manage their food business all through a tool that is 100% online.
The same goes for something as basic as online classes. Preply, a language learning company saw a spike in sales after COVID-19 because they were ahead in the game. No matter what industry you are in, there are always more things you can take online, and having those capabilities will help set you apart from your competitors and stand out to potential customers.
A couple of ideas on what this might look like:
- Investing in good customer relationship management (CRM) software.
- Hosting informative webinars to build trust and attract new customers, or even employees to take their skills up a notch.
- Supporting your employees’ work-from-home needs.
The bottom line is, the more processes you can bring online, the more you can stay engaged with your customers and employees, which is crucial for a business to stay resilient and thrive.
3. Invest in Facebook ads
As more people spend time at home and on social media, the ROI on PPC ads in many industries has skyrocketed. This is a good way to remind people that your business is alive and well and that you aim to be a very significant part of the ‘new normal.
Facebook ads, in particular, are quite affordable—even for local businesses—and can help you showcase any changes you have made to your business or any COVID-19-exclusive discounts or promotions you might be offering. Online ads have always been engaging, affordable, and well-targeted, but now more than ever before, they offer you the ability to scale your business truly.
With Facebook’s granular audience targeting capabilities, you can reach customers based on gender, location, hobbies and interest, marital status, profession, and the list goes on.
The pandemic has also lowered the CPM (cost per thousand impressions) on ads since companies do not have a huge marketing budget to play around with. This is a good time to invest in a good Facebook ads strategy that can serve as an affordable way to bring in leads and sales to help you make more money.
Advertising messages are most effective when consistent and repeated, which makes Facebook retargeting another strategy to try during/after the COVID-19 pandemic. With retargeting, you target your ads at people that have already had some form of contact with your brand. Referring to my first point about investing in your existing customers—it really is the same logic.
4. Run exclusive deals and offers
As businesses begin to reopen, a good way to get people interested in coming in is by offering exclusive sales promotions or deals. You can announce or even advertise these offers on social media platforms as well as promotional emails.
These offers will help bring in new customers while also getting old ones interested in coming back. This idea can work for multiple industries (theatres, spas, gyms, etc.). Still, it works particularly well for industries that have been hit hard by the coronavirus—restaurants and travel, for example.
Discounts, freebies, and similar saving options could be the incentive customers need to invest in you. You could even offer membership deals for customers that choose to invest in you during a certain time period. This will help you earn some money even when times are tough.
5. Give your communication strategy an overhaul
As people’s priorities and schedules change, the previous communication strategy you had in action may not be right. It would be wise to rethink the newsletters you are sending out, the content you are creating, and the general approach you have towards your customers.
This could mean redoing your content calendar altogether or maybe putting some blog posts on the back burner. At the same time, you focus more on articles that cater to doubts, fears, and questions related to the current situation. This also means that you need to take the time to get to know your post-COVID-19 customers.
One way to do this is to send out an email survey with questions about their current priorities, pain points, and desires. Make them easy to answer (multiple choice or choose a point on a scale), but keep some questions open-ended because this way, you might discover a few golden nuggets of information about your customers.
You can then use this information to rethink your communication strategy and serve your customers better.
You may even give your ads, emails, videos, webinars, and podcast episodes an overhaul, so you are keeping the current priorities of your customers in mind. (For more help in this area, head to our post on marketing during COVID-19).
6. Be Transparent with Pricing and Consider Lowering Delivery Charges
Post-COVID-19, customer loyalty will be extremely crucial for your company. Consumers share their experiences, both positive and negative, on social media and review sites. Negative reviews can have a major negative impact on your profit margin. Avoid concealing extra fees or details that may come as an undesirable surprise during the final stages of finalizing a purchase. Be transparent from the initial stages to keep customers pleased and loyal.
A large number of regular online shoppers end up making more purchases when shipping is free or considerably low. Lowering or doing away with delivery charges could result in a significant uptick in sales. If your current profit margins can’t accommodate this, consider value addition. You can give a discounted delivery on purchases exceeding a specific value.
7. BE FLEXIBLE
Most small business owners in Australia already had a business plan and goals that they wanted to achieve. However, the disruption that comes with this pandemic makes it necessary to be flexible and ready for future changes. Changes in consumer trends, the labour market, and the economy will require that you make some adjustments. As a business owner, making sound decisions swiftly will allow you to maximize opportunities and grow.
8. PREPARE FOR THE RECOVERY
There is definitely hope that the pandemic will be put under control, although we do not know how long this will take. Businesses that seek growth have to focus on the future and prepare for recovery. Staying ahead of the game will involve purchasing materials, receiving new shipments, improving the work environment for your staff, and building a strong business culture. Business leaders will need to adopt effective leadership practices to encourage employees and deliver the desired business growth.
There are many more growth strategies that you can use to ensure your business survives both during and after the pandemic. However, you will need to find measures that address your specific needs and goals. Nationwide Super is committed to helping small businesses grow through exceptional products and services. Contact us today to learn more about how we can support you as you navigate these tough times.
The high e-commerce demand caused by the COVID-19 pandemic is likely to become permanent even after brick-mortar stores resume operation, especially if it follows the normal trends of online shopping habits. Companies that adapt quickly will stand a better chance at growing their businesses and expanding their profit margins by exploiting this great opportunity. The above 6 tips will help them grow their businesses even in post-pandemic circumstances.
Article Compiled by hughesagency.ca
Article Reference Links:
- https://www.zinrelo.com/marketing-strategies-grow-business-after-covid-19-lockdown.html ↑
- https://www.wordstream.com/blog/ws/2020/10/27/post-pandemic-marketing-strategies ↑
- https://www.wordstream.com/blog/ws/2020/10/27/post-pandemic-marketing-strategies ↑
- https://www.globaltrademag.com/how-to-grow-your-business-after-covid-19/ ↑
- https://www.nationwidesuper.com.au/key-business-growth-strategies-during-and-after-covid19/ ↑