More than ever before, there is an expectation of businesses and companies to be a source of trust and information. With the technology consumers have access to 24/7, it’s no wonder this is the case, as people expect more, faster. But what happens when the world falls on hard times and things change when job security is as weak as the stock market? Do consumers still care what a business has to say after they’ve shifted gears and gone into survival mode?
The answer is a resounding yes. Read on to find out how to stay (or become) the leader of your market in troubled times.
Survival of the Fittest
Now is not the time for panicking; be it over essential groceries or the fate of your company. Now is the time to take a breath, think, and adapt to the current situation. Many of your competitors are going to panic and shut up shop, giving you the perfect opportunity to become the source your consumers can rely on for reassurance, information, and essential updates during this time. They will also, of course, still have a reliable service to count on from your company.
However, this comes with the requirement of flexibility. Businesses across the world are changing their marketing approach to be more sensitive to the current situation, or are in some cases completely changing their business such as Australian distilleries helping to make much-needed hand-sanitiser. We aren’t saying to jump into a new industry, but we are saying if you don’t adapt, the likelihood of making it out the other end is reduced. This can be as simple as thinking outside the box to still deliver your products to consumers and to still trade as normally as possible.
SPEAK UP, PLEASE!
Imagine, for a moment, the difference between two hypothetical hospitality venues during the current COVID-19 pandemic. One venue panics and “temporarily” closes its doors, leaving staff and patrons in the dark. The other heeds the government recommendations and transforms to take-away only and while doing this, regularly communicates with its clients and the broader community through social media and by keeping their website updated. Which do you think will come out better in the end?
Right now, a lot of people are worrying, stressed and scared of the unknown. This is fair enough, but it’s also the perfect time to connect with your audience on an emotional level and engage them. We can’t emphasise how important it is to keep communicating with your market at this time because even if your business has nothing to do with the current situation, we guarantee your market will want to be reassured and updated by a trusted source.
RE-EVALUATE YOUR NEXT MOVE
If you’re a diligent, smart-thinking business owner we are sure you’ve got all your strategic ducks in a row. You might even have your social media marketing planned and scheduled for weeks to come. If that’s the case, you’ll do very well to check what you’re about to say to the world, now the global climate has shifted. If you’ve got posts scheduled that are promoting a dine-in special, a discount on groups, or even if your entire business is based around a big event, changing your social media strategy now is not so much a suggestion but more of a necessity.
Shifting your marketing strategy to reflect the current climate is vital to ensure you maintain your audience and their attention. Promote your new way of business, give your market honest communication about the situation, reassure them it’ll be business as usual when it’s all over.