Weeks ago, when the coronavirus pandemic was beginning to take shape, we started talking to our customers and helping them prepare for the inevitable changes in the economy and their business strategy.
Whether that turnaround is weeks or months in the future, we can be sure that it will come. One thing we’ve learned from our long tenure in business – including the aftermath of September 11th and the 2008 financial crisis – is that conditions can change quickly. It’s always darkest before dawn, and the good news is usually closer than you think.
So while we don’t want to downplay the pain and problems associated with the coronavirus outbreak in Germany and beyond, we also want to do the right thing and get customers and readers to think about what’s to come.
Let’s look at some of the steps you can take to prepare for the economic boom that is sure to come after Covid-19 is gone from everyday business life. Think of new ways to reach customers and clients.
Short-Term Customer Loyalty Or A Step Further?
While most business owners, executives, and marketing managers will focus on their business growth and customer loyalty strategies shortly, we invite you to think a step further. Wonder what your best customers will be looking for when life returns to a new normal.
The answers you could think of are almost endless. Some customers may need flexible financing. Others may want short-term contracts, new equipment, or help with expanding their workforce quickly. There could be new automation or supply chain management apps or tools that will be of great value. To get the most out of this exercise, you might even want to ask some of the people you are working with. Get their opinion on what you can do right now or in the future to help them make the breakthrough.
By brainstorming in this way, you can accomplish several things. For one, you will become an invaluable partner to the men and women who count on your company. Second, you can get a head start on your competitors who will scramble to bring out new marketing campaigns and messages when it matters most.
Start Planning Your Campaigns Now
Time can be a weird thing. Right now, there are tens of thousands of ordinarily busy and productive people who have the flexibility to come up with new campaigns, promotions, and ideas. Not only do business owners and executives work from home, but many of us in the creative industry also have more time than we have in years.
Experience has taught us that all of this will change suddenly when the economy picks up again. Just as the companies come to us with online ads, e-commerce improvements, etc., they’ll come back as a group just before the holiday season when the marketing budgets suddenly relax. It is far more appealing to plan and start new marketing campaigns for an upturn than trying to catch up with your competitors when everyone struggles to stay up to date.
Stick To The Latest Changes Or Improvements
In the wake of the coronavirus pandemic, it is common for executives to speak of life “returning to normal.” Be aware, however, that “normal” will likely look a little different than it did before.
We’re sure many companies will prioritize online ordering, fast deliveries, and working from home. Likewise, many will stick to video conferencing instead of face-to-face appointments, along with a host of other changes or improvements introduced in the wake of the pandemic and lockdown.
If you’ve been putting off picking up on these trends until now, now is an excellent time to catch up with the rest of the business world. Not only are these types of solutions safer for you and your team, but they are also efficient. And when you’ve made adjustments to the way you run your business, think about which of these changes you might want to make permanent, even if they aren’t mandatory.
Be Strategic With Your Marketing Campaigns
Many people tend to view the economy as “on” or “off.” This is an oversimplification. Even now, there are companies like grocery stores and delivery services that are doing well. Some do everything they can to target customers, while others stop all marketing activities entirely. Both can be useful, depending on the prevailing conditions for the respective company.
We mention this because we want you to think carefully about your industry and strategic situation. Which areas of your company are likely to pick up again quickly? What areas might lag for a while? How will all of this affect your sales, your workforce, or your operations?
When you have the answers to these questions, you can create a plan for restoring, transforming, or emphasizing your marketing campaigns shortly. You shouldn’t make the mistake of simply resuming your old activities when they don’t work. Instead, think about what you will need soon so that you can put your time and money to good use.
