No matter what your industry, these 3 crucial tips will serve you well.
Whilst 2020 was an extremely difficult time for many businesses, some continue to thrive despite the extraordinary challenges we have all faced.
It’s NOT business as usual and we can’t carry on as such.
Instead, we need to take action and adapt, which is the cornerstone of any agile business leader these days.
And so I decided to write this article, in order to share the 3 most important actions you can take – right now – to succeed and continue success into the New Year and beyond.
And here’s a few examples why…
#1
In April this year, we generated a 280% ROI (while scaling budgets) for a chain of hairdressing and beauty salons on the Gold Coast and in Brisbane. They jumped to eCommerce.
It was their biggest sales month in the companies history.
#2
We have a client in the hospitality industry, that saw lead costs drop by 45%…at a time when people couldn’t dine out! Yes you guessed it, home delivery!
#3
We initially experienced a large drop in sales for an apparel brand, only to see an aggressive 500% ROI after pivoting our approach in response to the changes and challenges they were faced with.
Furthermore, we’re now seeing an 800% ROI for this brand since the beginning of April, selling luxury apparel into heavily quarantined cities.
We’re generating nearly 3x more sales for this brand, in the middle of the biggest marketing challenges we have ever faced.
And here are our 3 tips for your marketing…
TIP #1 – DON’T Cut Your Advertisng Budgets
Why?
Because internet traffic is exploding and will continue to grow.
Facebook online shopping has increased by 32% across all markets.
And advertising is getting cheaper.
For the first time in a decade, the cost to advertise on Facebook is actually decreasing!
And your competitors are cutting budgets. They’re spending less. They’re dropping out!
If you cut your budgets now, you’re preemptively reducing sales and cashflow.
And your growth will STALL over the next two years during recovery.
TIP #2– Be Real With Your Client’s and Show Them Who You Are
If there’s one thing standing between you and your ability to succeed. It’s your ability to connect with your customer’s current emotional state.
Now is the time to be REAL. To be AUTHENTIC….and GENUINE.
We all feel vulnerable and exposed. And that’s ok!
So open the door.
Peel back the curtains.
Take your customers behind the scenes, and relate to them.
Now is the time to dig deep. Really think about your customers and their current needs not only now but into the years ahead.
This simple approach has achieved record-breaking returns for several of our clients.
Think about the following questions:
- What can your business do to demonstrate you genuinely understand what your customers are going through?
- How can your business naturally fit into the new normal?
- What’s the best way to convey this, empathetically?
- How can your product or service make your customers feel better?
Answer these questions and develop your own unique messaging around them.
TIP #2– Conduct Market Research
Market research is a key part of developing your market strategy. It is about collecting information that provides an insight into your customers thinking, buying patterns, and location.
Trying to promote your product or service to everyone can be costly and ineffective. Grouping or segmenting your potential customers based on certain characteristics will help to focus your marketing efforts.
Generally segmentation is based on factors such as:
- geography – location
- demographics – age, gender, education level, income, occupation
- behaviour – loyalty, attitude, readiness to buy, usage rates
- lifestyle – social class, personality, personal values.
Your target market should have a need for your product or service and be willing to pay for your offer.
Conclusion
In conclusion, the times ahead may and will be tough…but extraordinary times call for extraordinary measures.
It’s not business as usual, so plan accordingly and take action within your business.
If you need help adapting your marketing in the age of coronavirus we should talk.
We’ve got a plan to help you succeed.
So go ahead, ask us anything. Let’s collaborate and make it through this together.
Good luck out there…and stay safe.
