By Barbara Lowe
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March 19, 2020
It’s a different world today then it was just a few short weeks ago. Your business is faced with uncertainty due to circumstances beyond your control. You’re not alone. And, you’re more in control than you think. Your natural reaction right now may be to hunker down and wait out this storm. Now is not the time to be reactive, you need to be proactive in order to get through this. We have a saying in marketing: When times are good, you should advertise. When times are bad, you MUST. Today you have the opportunity to get in touch with your inner entrepreneur, you know, that voice inside that drove you to go into business to begin with? The one that said, “Hey, I have a really great idea!” You likely had a conversation with yourself and that voice convinced you to jump into business and you started innovating, brainstorming, creating, thinking outside of the box and then doing all the things!!!! FIND THAT INNER ENTREPRENEUR AGAIN! Now is the time to Adapt, Innovate and Initiate! Why now? Shouldn’t we be saving our pennies and tightening the purse strings? Not when it comes to marketing! Here’s why: Corporate Stability - People buy from people and businesses they KNOW, LIKE & TRUST. When they see you continuing with business as usual during a time of trouble, it gives them a sense of comfort during this crazy time. It makes them feel good. More importantly, it elevates the trust they have in your business, products and services. If you see businesses who have suspended advertising, you’re going to wonder if they’re still in business or will be in the near future. How confident would you feel buying from a business like that? When your old stove needs to be replaced, would you purchase a new one from a store that you don’t trust will be open in the near future if there is a problem with your purchase? Or, would you prefer to go to a store that doesn’t show signs of slowing business down? You’re competing for customers right now and you can’t afford to lose that competition! Noise Level - Speaking of competition, we all have it, it’s always there. It can be hard to stand out above the crowd. Right now, many business owners are doing exactly what you had been thinking of before reading this - hunkering down and waiting this out. That means there’s less “noise” in your industry. Meaning, there are fewer companies (your competition) trying to get their message out to potential customers (YOUR customers). This is the perfect opportunity to make connections with buyers who may not have found you before today! Back in the 1920s, Post was the leading cereal brand. Once the Great Depression hit, Post hunkered down to try and ride out the storm. They cut their advertising budget drastically. Kellog’s, on the other hand, doubled their advertising spend and invested heavily in radio (which was the best medium at the time, much like social media is today). Kellogg’s introduced a new cereal, Rice Krispies, and their profits grew by 30%. They became the industry leader and have held that position for decades. A more recent example is Amazon. During the “great recession”, their sales increased by 28% in 2009 because they continued to innovate during the slumping economy. Remember when the Kindle came out? Massive sales! And now Amazon is the massive company we know today. Digital Algorithms - Every piece of content you’ve posted on your website and social media has contributed to your search engine ranking. Think of it as climbing a rock wall. You and your competition all start at the bottom. The amount of focused effort you put into climbing (content) gets you closer to the top. There are a lot of other climbers on the wall. When you let go (stop advertising), they keep going. When you decide to restart your journey, not only have they climbed higher, you’ve also fallen down to the bottom only to have to start that same climb again. When you add in the trust from showing corporate stability and take advantage of the reduced noise levels, you’ll climb that wall a lot faster. You need to think about changing the way you do business. Can you move what you do online? Exercise classes - what would that look like? You may need to change up your class, but can it be done. Why do people join your class? To get healthy. So maybe instead of using particular equipment that you offer at your gym, have them use their own in any way they can but you can run the course - have the music playing, give the encouragement etc. The end result is still the same - improved health, but a different path to get there. Create a private Facebook group for your current clients and hold your classes there. You can also use software like Zoom or Google Hangouts. We need to socially distance ourselves but we also need community! This model works well with things like: Music lessons Martial arts Business Coaching Art Lessons Life Coaching Many others! By taking things online, you can service your current clients and still secure new ones. Can you offer touchless delivery for your products? Perhaps you have a natural foods store or sell dietary supplements. Hire a delivery driver who understands proper handwashing techniques and have your customer order and pay for products and receive them on their doorstep with a text from the driver when it’s placed. Both of these suggestions mean taking your products and services TO your client instead of them coming to you. What if these things aren’t possible? Now it’s time to start planting the seeds. There are many seasonal businesses around the world that function in the feast or famine mode - meaning high and low. The smart ones are busy in their slow times lining up the work for the busy times with a solid marketing strategy. HOW-TO VIDEOS: Maybe you own a bicycle repair shop. People aren’t dropping their bikes off right now, but you can live stream videos of you fixing common, simple issues. Explain as you go in simple terms. Now is not the time to show off your industry jargon. OFFERING ADVICE: You own a furniture store. Create videos or blogs about your preferred cleaning products and techniques for certain fabrics. ANSWER YOUR MOST ASKED QUESTIONS: What do you get asked over and over again by new customers/clients? Providing these answers will help educate your audience so they’re better prepared to buy from you. HOST A LIVE Q&A: Y o u’re the expert, prove it! Do a Facebook Live with people asking you about your industry. INVITE A RELATED INDUSTRY COLLEAGUE TO TALK : Me in digital marketing, I might have the owner of a sign shop on to talk. We both serve the same types of clients and refer to one another often. By connecting your audience to your colleague whose services they may need, they see you as a good resource. Barbara was a guest on the Teri Holland podcast, sharing tips and strategies to stay top of mind in the market place right now. Listen now! https://podcasts.apple.com/ca/podcast/the-teri-holland-show/id1001398897 These suggestions all provide exceptional value for your current and potential clients. You won’t be charging for them but you’ll be setting yourself up as the industry expert who’s secure in their business. When the client is ready to buy, they’re going to buy from you. When you set yourself up as an authority this also helps to connect with potential suppliers as well. They see you as a business with corporate stability, a business that they trust will pay their bills and be a long time client. This will often allow you to create enhanced partnerships with them in order to secure a better deal on the products or services they offer that you need. Find that entrepreneur’s voice and start innovating, brainstorming, creating, thinking outside of the box and then doing all the things!!!! Remember. .. When times are good, you should advertise. When times are bad, you MUST. Assisting You Social provides consulting, coaching, content creation and management for clients across North America. In order to help #FlattenTheCurve and protect the health of our team, we are currently working remotely. To reach Assisting You Social, please call 705-300-5565 or email us at info@assistingyou.ca