The pandemic changed the way many businesses conducted themselves for over a year. Many businesses found themselves in need of ways to thrive during the uncertain times and found themselves at a loss for what they should do. The pandemic showed many business owners that the way of the future was and continues to be the Internet as online marketing strategies rose and are still currently on the rise.
Many businesses changed their marketing strategies during the pandemic and were able to maintain stability. Some of the marketing strategies that proved to be useful for these businesses during the pandemic were:
Adapting to The Situation
The global pandemic was a shock to businesses and consumers alike. It effectively changed many people’s buying habits as more and more people became more protective of their money and less likely to spend it frivolously. When people reduced their spending, many businesses’ marketing tactics became ineffective. The current marketing strategies that they used did not account for how the pandemic affected the majority of consumers around the country. Businesses were advertising for their normal level of consumerism instead of advertising to those who were penny-pinching in 2020. Forbes has an in-depth article with more information on how the pandemic changed consumer’s buying habits.
In order to create a successful business, you will need to watch what is going on in the world and adapt to it. Adaptability comes in many different forms, some common ones include:
- Understanding the consumer- As people, we are all consumers. When thinking about your customers, put yourselves in their shoes and allow that perspective to assist you in any business choices that you make.
- Stay in-the-know about what people are buying as it pertains to your business- Look at your business and businesses like yours to see what people are buying. The pandemic slowed down the consumers’ average spending habits, so paying close attention to where their limited money went can help you promote certain products and services to them.
- Be ready to change direction at any point- Even if you implement a new marketing strategy, it could become ineffective at the drop of a dime. In order to be successful, you need to be flexible and adaptable to any situation or circumstance that renders your marketing strategy unprofitable.
Utilizing Social Media
Social media has always been popular, however, it gained even more popularity during the pandemic when people couldn’t connect in person anymore. Social media has always been a great option for many businesses for a few key reasons:
- It’s easy to connect with customers- When you have an active and public social media presence, people take notice. Having a social media presence allows your customers to come to you directly with questions, concerns, and comments. Social media builds a more personal connection between customers and businesses and builds a higher level of trust.
- It helps build your brand- Social media is a great place to establish your brand’s identity. Posting content relating to your business and what you stand for will attract like-minded individuals who genuinely enjoy your brand.
- You can raise your SEO- You can post links to articles on your website, products for sale, and other important content that will drive people to your webpage. Every interaction, like, comment, share, and so on will raise your brand’s relevancy on search engines.
- You can advertise on social media- The pandemic has made ads even more important than ever. Social media sites like Facebook allow businesses to pay for advertisements on their site. The ads will be targeted towards audiences that have expressed an interest or need in your service or product. This is a quick and passive way to gain more clients.
There are a variety of social media sites that may be beneficial for your brand, some more than others. Though you have a wide-range of options, some of the most popular social media sites for businesses are Facebook, LinkedIn, Instagram, and Twitter.
Understanding How to Budget and Allocate Funds
When the pandemic began and businesses were forced to close, many found themselves in a difficult place financially. Due to the sudden and surprising aspect of the pandemic, many businesses could not prepare to be closed down for a certain period of time and ended up having to close permanently. Though it is unlikely that another world-changing pandemic will happen again soon, there are many unforeseen instances that could cause a business to temporarily shut down. Before those situations arise, it is important to successfully budget your money. Along with setting aside money for what you absolutely need, you should also be funneling a percentage of your capital into an emergency fund in case your business ever needs to temporarily shut down. Having this amount of money set up will provide you with more peace of mind and allow you time to come up with a plan for the future.
One key to starting to manage your established budget for business expenses is to utilize budget fluidity. Budget fluidity is essentially going where the money is. Often, top-performing products or services fall short for certain months while average or low-performing products and services may increase in popularity. Instead of trying to increase media attention for the former top-performing aspects of your business, budget fluidity maintains that you should begin marketing for what is currently doing well for your business. By being flexible with your finances and investing in what is currently popular, you will save money on marketing, because you will no longer be trying to force the consumption of one under-selling product over one that is practically selling itself. In addition, remaining flexible and fluid will help you and your business in the future when something unprecedented happens.
Contact NOVA Advertising
If your business is struggling to increase your marketing and exposure post-pandemic, contact the professionals at NOVA Advertising. We offer competitive SEO services and will help manage and market your business to a variety of new clients. Request a complimentary consultation today!