COVID-19: 3 marketing tips to thrive in the new norm
Updated: Sep 3, 2020
COVID-19 has spread all over the world and millions of people are forced to change their lifestyle habits until things get better. This pandemic is predicted to stay for the long-term and all companies need to rethink their operations, marketing inclusive. A long-term crisis can bring on negative effects financially so businesses like yourself have to be quick on your feet.
As for the Chinese word for crisis [危机] literally translate to danger 危 + opportunity 机 - every crisis is an opportunity. Don't wait before it is too late! Adapt your marketing strategy to the pandemic with just these 3 most important tips.
1. Observe the shift in consumers' behavior
With more people working from home, we see a 38% increased their social network activities. You may read on the other interesting insights on Covid-19 effect on Singapore published by Nielsen here.
How is Covid-19 affecting your business? Observe the trends and ask yourself deeply. People are ordering deliveries more often. E-commerce adoption rate has increased sharply compared to same period last year. The E-commerce product/service reviews are more important ever. Singaporeans' demand for massage/ facials services have shot up due to travel ban (we know you like to go Thailand/ Malaysia for these). So get the facts right on how Covid-19 will affect your business.
2. Strategize and plan
Next is to do your homework and find out which platform will work best at reaching out to your target audience. After shortlisting, you can prioritize winning channels and promotion strategy that is best suited to your product or service. Find out what are some of the different platforms here. It is critical that you deduce insights fast, to decide on the best ways to complete your ad spend and ROI. With WFH and social distancing implemented, the best way to be social is of course through social media. If you haven't started working on your social media presence, you should get to work now! Make sure all your information are up-to-date, start uploading content that keeps your brand afloat and address your audience’s changing needs in this trying times.
3. Don't just cut cost, start reinvesting!
The empirical evidence in undeniable: a Mercer Co. study of 800 companies that simply cut costs in slowdowns found that 70% failed to get profitable growth for five consecutive years. This pandemic or any recessions in general are market share growth opportunities. Many of your competitors will adopt a 'survival' approach. You must adopt a 'thriving' attitude. Many of your competitors will leave the marketplace to you. TAKE IT. Don't know where or how to start but you know that digital marketing is crucial?
Don't be shy! Leave us your contact details for a free consultation to see how we can serve your marketing needs in the new norm.