The COVID-19 pandemic has affected almost every aspect of our lives, including the way businesses operate. Not only are they reeling from a significant drop in retail sales, but they also have had to change their models quickly in order to stay afloat.
Market experts and government officials expect the virus to cost the global economy $2.7 trillion. This converts to cuts in paychecks, loss of conversions, and reduced consumer traffic. No matter the business’ size, a significant shift in marketing tactics is the need of the hour.
There are several strategies companies can adopt in order to leverage their brand during the pandemic.
Many businesses shifted to offer some of their premium services for free, soon after the pandemic broke loose. This strategy not just helps people who are facing a cash crunch due to COVID-19 but also helps generate goodwill from customers. Such a strategy can help you reach a wider audience on social media and thus increase traffic to your business.
Take a look at your business and evaluate what products or services you can give away for free. Be sure that the products you choose are beneficial or useful for your customers during this time.
Pay Per Click Ads
One of the most efficient and cost-effective ways to advertise is to invest in PPC ads. Both Google and Facebook have great reach, and you must utilize these platforms for well-designed PPC ads. Since you only pay when a potential customer clicks on your ad, you will save a lot of money.
A lot of people are stuck indoors due to the pandemic and are spending a lot more time online than they usually would. Facebook, Google, YouTube, Instagram, and Twitter are all reporting large spikes in traffic. With so many eyeballs on the internet, it would be remiss to miss out on this opportunity to put your brand name out there.
Buy Now, Pay Later
In normal times, most potential customers would make a decision to purchase based on if they could afford it. In COVID-19 times, people are more hesitant to make purchases that they might deem unnecessary. Since millions of people have lost their jobs and plenty are furloughed, it makes sense that they would want to save money for an emergency situation.
Payment services like Afterpay and Affirm make it easier for customers to make the decision to buy your product or service. These services have a proven track record of increasing conversion rates. You can easily ingrate a payment plan into your online store to ease the burden on your customers while increasing conversion rates.
Most people are looking to upgrade their resumes as the job market continues to shrink. Leverage your expertise to offer education-based training to your customers. Most educational opportunities online are tech-based or are too theoretical. This leaves out a sizeable chunk of the population who want to learn an applicable skill that will pad their resumes.
Base your training videos on your core business. If you manufacture and sell clothes, then have an educational series on how to read and execute clothing patterns. You can also convert your business insider knowledge to provide invaluable training.
The possibilities of educational training are endless, and they will help you reach a wide audience. There are many resources available to build your own training module. All you need is your expertise and a good video maker.
Email marketing is one of the most powerful tools in your arsenal for increasing conversions. In order to have a good email-based campaign, you have to first funnel your visitors. A good landing page based funnel should help you create a powerful list of leads. You can also add funnels to individual product pages based on your PPC ads. Offer coupon codes, discounts, and even free products to capture new leads.
Base your email marketing strategy on the demographics that have worked for your before. Then expand on the segmentation to capture new audiences whose spending behaviors might have changed in recent times. It is almost impossible to predict trends in the current environment, but a good analytics team should be able to help you identify the right trend for your marketing campaign.
Follow Through with Analytics
Analytics has come a long way in helping businesses make important marketing decisions. You can now implement AI-based analytics that can deliver real-time trends and reports. These can help you make the required adjustments to your marketing campaigns to achieve the best results.
Before utilizing analytics, it is important that you establish your goals for your campaign. Are you looking to boost conversion rates? Or do you want more unique conversions? This parameter will depend on where you are currently in your campaign journey.
Video marketing can be the difference between being just another brand and one that delights its customers. People are spending more time online than ever before, and brands must capture the right audience. Having video as part of a marketing strategy can provide increased engagement, unlike most traditional campaigns.
It is important that you understand the different types of marketing videos, which allows you to create the right video for your business. The different types include:
- Demo Videos
- Brand Videos
- Expert Interviews
- Animated Videos
- Live Video
- Personalized Messages
- AR Videos
While the pandemic, by definition, has affected almost every country, some regions are handling the crisis better than others. Capturing a global audience that is not has embattled as your current audience can help you grow traffic and can even result in increased conversion rates.
Employ international SEO to capture audiences from around the globe. This way you can get a lead on regions where you might nor face as much competition as your local market. Since this doesn’t require much change to your marketing strategy, the ROI can potentially be big.
COVID-19 has changed the way the world and businesses work. In this unstable time, it is important that you have the capability to adapt new strategies and execute them professionally with a keen eye on analytics.