It will get better. Stay positive.
For many businesses things have become very difficult right now. If you’re one of the few businesses thriving, good for you. If not, know that it will get better. As the United States Surgeon General said on Monday, “Things are going to get worse before they get better.”
That doesn’t mean they won’t get better but it does mean we need to stick together to weather the storm.
learn from history and invest in your business
We’ve been through difficult times before, from the 2008 financial crisis to the Great Depression. Take the lessons from those times that companies have learned and invest in your business. Here are 4 of those lessons:
- Innovation counts—Successful businesses offer new products and services often and quickly adopt new technology.
- Get help—Networking, hiring consultants and setting up an advisory board are ways successful businesses get external advice.
- Map it out—Developing a strategic marketing plan with specific targets will help to keep your business on track even as economic conditions change.
- Master financial management—Keeping tabs on your finances allows you to plan better, see trouble brewing and react quickly.
A Harvard Business Review study of 4,500+ companies analyzed three years before, during and after recessions identified the percentage of companies that outperformed their rivals: 21% for businesses that opted for a prevention focus (more cost-cutting) and 37% for a more progressive focus. The study found that “firms that cut costs faster and deeper than rivals don’t necessarily flourish. They have the lowest profitability (21%) of pulling ahead of the competition when times get better.”
In another report, done by Bain, it was found that getting it right during the lean years has a marked impact on a company’s growth rate after the economy improves.
5 Digital marketing ideas during the coronavirus
connect with customers on social media
Whether you’re new to social media or your company is a pro at it, now is THE time to engage your customers on social media. With the majority of the American workforce, and even global workforce, working from home they’re spending more time on social networks than ever before and have a greater possibility of connecting with, and buying from, your company.
For tips on connecting with your customers on social media during this pandemic, read our blog on “Embracing Social Media During Social Distancing”. For those of you doing good deeds, giving back to the community, offering free food to truckers, sewing masks for healthcare workers, giving small businesses discounts, promote those good deeds on social media.
ensure you can be found online
It likely comes as no surprise that Google search traffic has increased significantly over the past week and a half and will continue to climb as we comply with the shelter-at-home and social distancing guidelines. We’re all online, be it on our smartphones, computers or tablets – looking for updates on the news – or looking to get away from the news and find ways to pass the time. For many, that includes shopping online.
Anything online right now will be consumed more than ever before. This is not the time to be hidden online. You should be using search engine optimization (SEO) strategies to climb to the top of Google’s search engine results pages (SERPs) so your business can be easily found. This is not a time for a business to go become a turtle, disappearing into a shell and poking it’s head out once this crisis has passed.
Google Ads (PPC) are a good move now
Google ads or pay-per-click (PPC) is a great strategy right now as, according to the Washington Post report yesterday, users are seeing screen times increase by as much as 185% on a weekly basis.
In addition, a report last week showed that the cost-per-click (CPC) is down nearly 6.5% across most verticals which reduces the amount of money you for every ad click.
Local seo is more relevant than ever
With people staying close to home, it’s essential that they can find nearby businesses for services and supplies in the rare instances when they do leave home. That’s where Local SEO strategies come in to play.
You want to make sure your business is using Local SEO to optimize your website for “near me” searches. You want customers in your geo region (e.g. Naperville, Milwaukee, Indianapolis, Bucktown, Aurora, CO, etc.) to be able to easily find you online so they turn to you first. At a time when we’re all looking for more convenience, this gives your business a chance to provide assistance during this critical time.
get creative with your offerings
If you’re on of the many businesses that’s had to close it’s doors to the public, try to be creative with servicing your customers. For a gym, launch online classes via Zoom. For dental offices, launch an online billing payment portal to process payments and offer to do urgent consults via the web. Are you a therapist and can’t see clients? Offer phone therapy sessions. Do you run a restaurant? Offer free delivery or curbside pick up – even Burger King is now offering free delivery as of last night.
Now is the time to tap into your creative juices and get them flowing. Just yesterday someone in our office received a message from their shoe cobbler saying they were offering free drop off and pick up so they could continue to do shoe repair.