Amidst the panic and mayhem surrounding the current corona virus outbreak, a unique opportunity for your business awaits.
As the economy is hit and restricted movement of the population is likely to continue for weeks to come, now is still the time to invest in the future of your business.
The use of social media and Google to find products and services is up.
Consumer online activity is on the rise.
Data published on eMarketer shows an increase in usage of mobile apps, social media and search of around 20% in China. The same behaviour is expected in the UK.
Through the use of digital marketing you can reach your customers, wherever they are, at a time when they need you most.
Marketing In A Downturn
When a recession or epidemic hits, marketing is typically one of the first activities businesses are tempted to stop to save costs.
This is a mistake.
Research from Harvard Business School categorically refutes this idea, and explains that your business’ brand will emerge from the downturn weaker and less profitable if you chose to do so.
When competitors are cutting back, improve your market share and benefit from a greater return on investment at lower cost by investing in marketing.
Building and maintaining a brand that consumers recognise and trust is one of the best ways to reduce risk when the economy takes a turn for the worst.
So, while some of your competitors stop working, take advantage of the opportunity to invest in your business and come out the other side better for it.
With households across the globe quarantined and all non-essential travel off the cards, make sure your brand is appearing in front of your ideal customer profile across all relevant social media channels. Nomura analysts reported that in China smart phone app usage has rocketed, especially for social media channels.
Produce new content and promotions that will entice engagement with your brand’s social accounts. The trick to successful advertising during a downturn lies in consumer psychology and emotion.
The coronavirus has caused an undercurrent of fear, worry, and stress across the globe. By tapping into and appealing to the emotional side of consumers you have a better chance of connecting with and persuading them.
Research from AdWeek shows that advertising campaigns that focus on emotional engagement tend to be more profitable than campaigns that focus on rational logical messaging.
Therefore create video, guides, infographics, memes and blog posts using emotive language and offers to build your brand and promote your products. Good-will and compassion will go a long way in the coming weeks.
Use Facebook, LinkedIn, Instagram and Twitter’s advertising platforms to push your content into the newsfeed of your target demographic. Don’t rely only on organic social media newsfeed reach.
If you are going down to organic reach route, make sure to take part in trending hashtags on Twitter, Instagram and Linkedin such as #StayHomeChallenge #COVID19, #StaySafeStayHome, #UKLockDown, #CoronaVirusOutbreak. Avoid the use of hashtags on Facebook.
Even if most people are not spending, they would still be consuming information — as it is generally free to do so.
During recession, you can double down on content creation. This will give you a short-term and long-term advantage.
With high-quality and regular content, you will be able to increase your brand awareness, authority, and fans. Later, it would be easier to convert these people into paying customers.
Because of higher engagement and more high-quality content, you may even rank higher in the search engine results pages. This will give you a lot more traffic that you could convert at no additional cost, which will keep your income steady and offer an excellent ROI.
If you'd like to learn Facebook ads, how to craft a marketing strategy or if you need someone to do it all for you check out the services section of my website.
Info credit: improvemysearchranking.com