Whether your business has a solid marketing plan or not, now is the time to review and adapt your plan to fit with the ever-changing circumstances that we find ourselves in.
What was planned for digital brands in 2020 has since been put on the backburner. The COVID-19 outbreak has completely reshaped everything that this year was going to be across all industries. The coronavirus pandemic has already left a mark on society and is likely to be a pivot point in the way business and commerce works going forward.
There are a number of things that you should be sure to re-consider in your marketing plan:
For your marketing plan to work, you’ll need to figure out what exactly it is that you’re trying to achieve, and how this may have changed or may have to change due to the COVID-19 outbreak and all that comes with it. Now is a great time to set realistic post-pandemic targets for your business.
Online / Digital Marketing efforts
Restricted gatherings across the globe have meant that events, conferences, meetings and any other in-person gatherings have been pushed online in order for people to still be able to effectively communicate. Brands have had to rethink their consumer experiences taking them online, including webinars, presentations, teleconferences, social media usage and even virtual exhibitions and trade shows. The world is having to go digital faster than ever before, and your marketing plan needs to keep up.
Budgets may be considerably affected by the COVID-19 outbreak, meaning suppliers may have to reduce their costs due to decreased demand or many companies may consider deferring planned investments in order to prioritise money elsewhere in their businesses. It’s going to be important to re-consider where your budget should be used and what you can do to stay on a firm financial footing. This could be for example, consolidating your products into a smaller but more successful range.
This is an opportunity to evaluate strengths, weaknesses, opportunities and threats that could help or hinder your business. There are many things to consider here and the coronavirus pandemic could greatly affect them, such as threats of ongoing social distancing or a further lockdown situation and how that may affect your business, especially if you are in the hospitality industry. Opportunities here however could be an increase in online presence and therefore increase in social media following and awareness as well as the potential to be meeting new post-pandemic needs.
Direct to consumer brands have been becoming increasingly popular and successful in recent years, bypassing standard distribution channels and having a direct path from production to consumer. Brands who already worked on this basis not only could continue selling their products during the coronavirus lockdown, but even saw increased sales as the public are spending more time on the internet. If your business does not work on a D2C basis, now may be the time to rethink this.
Working from Home
With so many workers now working from home to meet with lockdown and social distancing measures it’s likely that, post-pandemic, companies will evaluate if they need to pay for potentially unnecessary office space and if their company resources could be better used elsewhere. There are also many benefits to remote working for employers including fewer sick days, improved employee morale and access to broader talent pools. Considering your own and other companies changing policies in this area should not be forgotten when re-evaluating your marketing plan.
In any kind of economic downturn, marketing is often the area where businesses first look to reduce their spend, however it is important to remember that marketing is what leads to customers, who buy your products and services, and so are the very reason your business exists and can grow.
For more information about Pinch of Salts and the bespoke marketing services we offer including events, social media, PR, brand management, website design and much more, or to get in touch:
www.pinchofsalts.com, email firstname.lastname@example.org or call 0845 388 5305 to speak to a member of the team.
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