Planning your Marketing through Coronavirus
Businesses and marketing teams are facing unprecedented challenges due to the Coronavirus (Covid-19) pandemic. There is no doubt that this health crisis will test us all. But now, more than ever, having a long-term marketing strategy is key. The spread of Covid-19 has put company expenditure under the microscope and forced cost efficiencies into sharp focus. In this turbulent time, marketing budgets can be a soft target. Here are our marketing and Coronavirus tips to help you think long-term.
Adapting your Marketing to Coronavirus
Maintaining brand awareness remains important so you do not cede market share post-crisis. Businesses that sell ‘big ticket’ products or services need extra focus to influence consideration due to delays to large purchases or investments until post-crisis. Finally, struggling businesses losing sales during the crisis must focus on driving action, converting the fewer sales opportunities coming your way.
Now is the time for marketers to adapt.
Here, we outline 3 ways you can market smarter during the Coronavirus outbreak.
Look after your existing customers
It is well documented that the cost of acquiring a new customer is far greater than the cost of retaining an existing customer. The message here is simple: Look after your base and they’ll look after you. One study identified that increasing customer retention by 5% can increase profits by 25-95% .
Take time to segment your customer lists and serve them with targeted, relevant content across channels. Don’t confuse this as a hard sell. Share some good news, company insights or get involved in conversations on social media about your products and services. The world is still spending and they’ll spend with brands they trust.
With consumer mobility hit by Coronavirus, the push to online is clear. Increase your online visibility to those who are ready to purchase with smart digital marketing techniques.
Consider adjusting your Pay Per Click targeting to in-market audiences, experiment with machine learning algorithms to maximise conversions and invest in your content to climb organic search engine rankings.
Always be thinking ahead. Use this time to grow remarketing lists as even this virus will pass.
Measure and test
Get your marketing analytics on track. If you are not measuring what good looks like, you are at risk of wasting precious marketing budget.
Clearly define what your KPIs are and how these feed into the wider business direction. Test and retest your tracking in Google Analytics, call tracking and more to ensure that marketing return is accurately calculated. Contracting spend could mean that you are forced to make quick decisions so it’s vital that you have the correct data to make the right call at the right time.
Marketing help during Coronavirus
Work smarter and make your marketing budget work harder for you.
The Coronavirus pandemic poses challenges to which we must all rise. In the midst of this uncertainty, it is important to remember that there are opportunities to learn, grow and succeed.
If you’d like help getting your marketing strategy ready for the long term, get in touch with Think Beyond today. Our Chartered Marketers offer a free no obligation virtual marketing review to businesses across the UK.
Alternatively, you can request a call back by completing our easy contact form.
Finally, why not browse Think Beyond’s range of marketing support services or hear what our clients have to say about working with us.