The Covid-19 virus has had much negative impact on businesses worldwide and has made it harder to market your business in tough times.
Numerous news channels have reported that events big and small have been cancelled or rescheduled. Companies are having staff freezes and retrenchments.
Fortunately, as the Chinese saying goes, “inside every crisis, there is an opportunity.”
Most likely you are a business owner looking at how to ride through this pandemic. One important consideration would be using cost effective marketing strategies to market your business.
First, let’s take a high level look at how a business can leverage this crisis to improve and enhance its financial results.
First thing’s first, there are two type of business, the first one plays it safe. Meaning to say that they tighten their belts during economic hard times and hope to ride out the storm. They only start stirring after the crisis has ended.
Meanwhile, the second type of business sees the crisis as an opportunity. They tap into this crisis by extending new product lines, enhancing their current offerings or leveraging digital medium as part of their brand awareness that will help them get that unfair advantage when the crisis ends.
However, most businesses feel that since there is a sharp drop in sales, there is no point marketing. Truth is, if you don’t, your competition will.
Marketing your business in tough times like these calls for strategic marketing changes.
As buyer behaviour changes during a crisis like this, it is prudent for you to take a step back and look at things from a different perspective.
One major consideration is expectation.
While it can be expected to have lower sales in time of crisis, how one manages this expectation is crucial.
As the old saying goes, “if you have a limited budget, then do it in the limited budget way.”
How well we do depends on how we manage the resources around us.
For a start, let’s see how we can help your business steadily achieve brand awareness online while on a limited budget.
3 Cost Effective Marketing Strategies To Market Your Business In Tough Times
Since buying behaviour changes, you can consider expanding your outreach or digital marketing channel to Facebook Live, Youtube or Search Engine Optimization.
Let’s go through each of these in greater detail.
Most people are now used to Facebook Live and more freelance and individual sellers are using this channel to sell their products while on Facebook.
This is super cost effective to do and all you need is a mobile phone.
You can then start doing Facebook Lives; talking about your products and services. If you sell physical products, you can even take orders right there and then during your live session.
If you are running an eCommerce business or have the ability to allow your customers to pay online on your website, you can do that too by directing them to your website during and at the end of your live session.
As you can see, this helps your brand gain awareness within social media. You can also use the platform to educate and entertain your potential customers.
Youtube is a wonderful platform to market your business in tough times too.
That said, there is a right and wrong way to marketing using Youtube videos.
As most people are on Youtube for learning and entertainment, you might want to gear towards that angle.
- Do a mini story about your flagship product or service
- Do a FAQ of your offerings
- Do a “take a peek” of your daily operations
All these are inexpensive to do and easy to execute. This not only helps in humanising your business, it also bridges and bring your business and your potential customers closer.
Consumers feel a connection with you and want to help you succeed by buying or referring other people to you.
Tips for doing cost effective Youtube video: Insert your company name or product or service keyword in your title. Also, remember to add a link to your website and your business address in your description. Last but not least, add relevant tags so that your Youtube video can be easily found.
The last marketing strategy to market your business in tough times is Search engine Optimization or SEO. There are 2 broad categories – SEO and Local SEO. We will discuss Local SEO as it is more relevant for businesses whose immediate concern is to ride out these tough times.
Local SEO if done correctly, can help your business rank in search engines better locally.
By that we mean that, your product and services can easily be found on Google maps, search engine rankings and be discovered via listings. You can start claiming your business in Google My Business.
After that, you will need to optimize your Google My Business listing by listing your product pictures, services and your address.
Next, you will also want to do a Local SEO site audit on your website. This is to check whether your site is structurally sound. If you don’t know how to do this, you can engage a seo professional to do it for you.
After you have done your audit and the necessary SEO research and adjustments, you will be ready to launch your Local SEO campaign. As Google advises, give your campaign 3 to 6 months to gain traction.
So there you have it, 3 Cost Effective yet Profitable Methods to Market Your Business In Tough Times.
Let’s ride through these COVID-19 times together. Should you need some advice on how you might want to adjust your marketing strategies; give us a call. We are here to help.