Businesses everywhere are confronting a new reality. Tough times which has been forced upon us by the COVID-19 pandemic. For some, it has meant an unprecedented reduction in sales and a disruption of day-to-day business operations. For others in harder-hit areas, it means a near, or complete shutdown of their local economies.
Three months ago, did you ever imagine waking up, making your morning coffee, and commuting to the office or classroom in your home office? A lot has changed very quickly, and our emotions and decision-making have become up and down like a yo-yo. We seem to be more down than up. When you’re up, it’s more than likely because you remember upheaval has happened before, and with turmoil comes excellent opportunities.
You might well ask, “why do businesses go broke so fast”. Small numbers can create big risks, but significant numbers like a drop in sales of 50% plus are catastrophic.
I had a sense in January we were underestimating the impact of the COVID-19 virus, and began planting seeds. Now, it’s one thing that keeps me sane as I and most other businesses lose customers and deals we had in the pipeline.
Perhaps the best way to strengthen fragile customer relationships is by enhancing better communication strategies. Like many, I have stepped up my marketing planning and utilisation of modern digital technologies to help.
Tough times need new resources.
When it comes to digital transformation initiatives, organisations are focused on those that improve customer and employee experience. Productivity improvements, automation and cloud services, all areas which are crucial to forward sustainable growth
With a sudden halt to operations, it could deal a death blow to all types of businesses. Without adequate resources to ride out the crisis, it will be hard-pressed to find ways to remain viable. Those that do have the financial wherewithal to get through it face the challenge of forecasting what kind of market will greet them when they reopen their doors.
For them, there should be just one major priority while waiting: sales and marketing. It’s the one activity that can continue while the world-at-large sits in quarantine. It’s also the surest way that businesses can emerge from the crisis in a reasonably strong position, ready to pick up where they left off.
Marketing must become a top priority in tough times.
Your marketing efforts will probably be your number one activity when it comes to recession-proofing your business. There is much to learn from the Jonny Walker Whisky, and the Pears Soap stories of the 1930s depression.
In a marketplace shaken with uncertainty, how should you respond? How do you position your organisation for the future? And what will marketing even look like in a COVID-19 world?
Your sales and marketing messages aren’t supposed to look like a textbook. Keep them simple so customers and prospects will simply understand and take action. Let’s get real in tough times. Big, useless, mind-numbing blocks of text won’t work.
Are you struggling to drive a continuous improvement culture in your organisation? Do you need to revive a sales culture which has lost momentum? If you’re like so many others, it can be challenging to know which questions to ask and where to start. Contact us for specific tools, processes and checklists to kick start your change management. https://faqsupport.com.au/contact-us/
Key Message: Go ahead in tough times and learn more about marketing in the new economy. You can start enhancing your marketing efforts which will protect both your business and peace of mind no matter what the world throws at you tomorrow. Keep your marketing assets organised.
“Your ability to create deeper engagement and strengthen relationships with customers becomes more critical with every day that passes”. Peter Sergeant.