Crisis has been prevalent since the days of our forefathers. No one can predict it nor control it. It’s one of the most consequential events that can either be prevented or be inevitable.
It has a major impact especially in the entrepreneurial industry. This is why small businesses are being corrupted while the latest ones are forced to close down.
But what do you think? Should you follow this trend?
Why Is Marketing Most Essential During A Crisis?
You surely want to market your business when you’re desperate. You have to do it whether or not you need customers. Take for example the Apple Products. They’ve been earning millions of dollars yet they still promote their products consistently.
What about Coca-Cola? They’ve been running for decades now, and they surely don’t want to stop at their peak. Have you considered why?
Simply because “You need to be in front of people of all time”.
People need to hear about you, and to constantly hear from you. It’s how marketing works! You have to spend an amount of money to create an advertisement that would get people’s attention. As a result, people would know you, and help you increase your profit.
Cutting Marketing Strategies would actually make it worse! It creates a long-term problem which makes it harder for you to recover. For instance, this is what TOYOTA did. They didn’t follow their competitor’s lead in cutting costs, and dropping their marketing budget.
Instead, they continue building their branding and marketing strategies which leads them to be the one of the, if not, the #1 Car Company today!
This is what you call ‘counterintuitive’, going against the current. Before getting started, make sure you think of a creative way to market your business, and consider the sensitivity of your latest products or services to offer. In this way, you can smoothly go with the flow.
Nonetheless, there’s nothing much to change during a crisis. The thing is, you have to adjust your marketing approach, and give more empathy towards your target audience.
If you’re going to continue your marketing strategy before the crisis, then the result could differ.
What Are The Advantages of Marketing During A Crisis
Now that we’ve talked about why you shouldn’t stop marketing your business during a crisis, let’s consider some of the best reasons why this step is more advantageous..
● There are less competitors in the market.
Undoubtedly, no one would try to stay put, and continue their marketing strategies under crisis. Most entrepreneurs don’t think that far, and aren’t very brave. This is your chance to compete against them in your most favorable time.
You’ll have the chance to spend your money through advertisement, make adjustments, and give off vibes that would help the people to see these changes. Most likely, they would bring profit to you while you hit your competitors in the back as they sit comfortably in their couches.
● It creates stability as you stay transparent to your customers.
Once more, people need to see your presence every single time possible whether there’s a crisis or everything is back to normal! It has a psychological explanation that motivates your customers to continue coming back, and rely on your products and services no matter what happened.
● You can take advantage of the market by advertising products or services with lower-cost opportunities.
Since many businesses are taking a time off, the marketing industry – commercials, advertisement, and so on, are offering their services at a lower cost. Maybe because they’re desperate, they wanted to help business owners, or for whatever reason it is, it’s definitely much affordable.
On the other hand, if you don’t want to rely on other third-party marketing, and typically creates your original marketing strategies, make sure that finances that you have to spend could keep up with the current situation yet it’s still highly-effective and sufficient enough to work during a crisis.
● Brings Confidence and a Peace of Mind
This most likely suggests the emotional contrast to what the majority of people are experiencing.
Why do we say this? It’s because when you continue to value your business and put in extra effort and penny to your market, this would help you to recover right away without suffering the consequences of those who wish to stop their businesses in times of crisis.
Since we’re in the 21st century, we have to keep up with the ongoing changes and the current trends in the market.
Think about the most effective and creative way you can promote your business. I mean, instead of giving out flyers on the street or spending tons of money in billboards and other physical facilities, why not make use of the internet instead?
Everyone’s using it. I’m pretty sure you’re currently using it as you read this article. Make use of the resources available, and be good at it!
But if you’re worried about the amount of saturation the internet offers or social media produces, we have the right advice just for you. Are you confident enough to spend time and talk to people about their interests and concerns? Consider your option for Email Marketing.
Do you have prior knowledge about advertising online whether on social media or other forums? Digital Advertising is most suitable for you then!
Or did you finish a degree in entrepreneurship or business management/administration? You can effectively do content marketing then.
Education is not the issue here. Your talent, skills, and wisdom would help you survive and take advantage in marketing your business during a crisis.
In case we encouraged you to apply the tips we’ve given, let us know your experience, how it feels like, how effective (or ineffective) the strategies you’ve thought of, and what suggestions can you make!
We’re all in this fight together, and we’re happy to hear from you!
