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Today, due to COVID-19, many companies are facing the greatest challenge of their existence: uncertainty. Beyond the consequences the world is already experiencing because of the coronavirus and the measures each country has decided to take, business leaders may feel they must take a 'leap of faith' at every step they decide to take, as there is no clear path as to what the future holds.
However, there is much that can be done. There are strategies that will help you and your team plan your next actions so that your customers keep you in mind today more than ever and you reach your business goals despite the current circumstances. Remember that money has not disappeared, it has simply accumulated in certain industries of prime necessity.
What actions can I take?
The best way to make sure you stay in the minds of your customers and prospects during tough times is through advertising, and the facts bear this out. During the recession in the United States, a McGraw-Hill study found that those brands that had maintained or increased their advertising during the crisis years (1980 - 1985) increased their sales by 256% compared to those brands that chose to do nothing.
However, it is important not only to advertise, but to do it with a clear, defined strategy and with content relevant to the context of your customers. For example, if you were a travel agency, promoting 2 for 1 airline tickets to Italy or Spain at this moment would be counterproductive, so what to do?
Here we leave you 3 clear actions so you can accelerate your sales and be in the minds of your potential customers right now.
Know the state of the industry and focus on where the resources are.
There are sectors whose demand has increased exponentially at this time, due to the priority of their supply. A clear example is the food and beverage, medical materials, biotechnology, cleaning products, personal hygiene products, transportation and logistics industries.
Other sectors have gone from being an option to a necessity, due to the change in people's routines, such as technology companies that provide connectivity solutions, software development and outsourcing services, among others. We can also see an increase in certain platforms or business methodologies, such as delivery services, online education, e-commerce and home-based entertainment such as video games and streaming technologies.
On the other hand, some industries could face setbacks if they do not take action now to continue to earn income.
This is the case of educational institutions, gyms, restaurants, retail companies, among others. However, all of them have the opportunity to reinvent themselves and find new ways to sell, for example: gyms can offer online training (some are already doing it), restaurants that anticipated, strengthened their platforms for express service and retail companies are already opening their virtual store, if they did not have one, or are strengthening their online strategy.
So think, based on the products or services your company provides,what can you offer to these industries that are in need right now and how can you innovate? Focus your efforts there. It will be a win-win.
Practical guide to increase your conversion rate
and close more business.
Redefine your content strategy
According to Sprout Social, for 70% of social media users it is important that brands take a position on social and political issues. In fact, 50% of them say they might stop buying from brands that take positions that do not align with their perceptions.
That's why we reiterate that you need to create a content strategy that adapts to the current context. For example, if you have a brand that sells bicycles, it would be advisable to pause the content that invites people to go out on the streets and exercise, and start creating content that invites people to maintain a healthy and active life from home.
Creating new content can require quick action and creative thinking, allowing companies to reflect on how their users are being affected by the Coronavirus and focus on providing solutions.
This may mean that you have to pause the current content and work on new quality publications with different formats that can range from podcasts or videos, to webinars with valuable training for your customers or prospects.
Focus on creating content to educate, inform and, in general, make people's lives easier in these uncertain times. If you don't know where to start or how to do it, rely on expert agencies.
In fact, this is the time when it is even more important to stand out from the competition as most brands are creating content around COVID-19, so there is a lot of noise.
Just to mention another example, software and technology companies, could create content around how to support their customers and prospects with telework solutions and tools, just to mention one example.
Stock up on leads now and find new ways to sell
Just as you should stock up on the supplies you think your home might need in the quarantine season, so should your business "stock up" on potential customers. You should do it now and not later. It is very important to devote time, effort and whatever resources are necessary to prospecting and lead generation right now, even if you or your team are "busy."
This also applies to businesses that are not even in an industry that has been directly affected by the coronavirus so far, as for now everything is uncertain and there is a possibility that the pandemic will have a wider economic impact as time goes on. Your business will be well served if you have an abundance of leads to work with for the long term, and even better qualified leads.
On the other hand, if the nature of your business allows it and the sales cycles are short, starting to sell online is the option, this is the time to get creative to keep selling and prospecting.
According to e-commerce News, online sales skyrocketed 129% as of March 15, due to the fact that people are not leaving their homes. So if you are not doing so, now is the time to implement strategies that allow you to sell online and deliver services at home.
Finally, it is important to consider that any online strategy to accelerate sales, must have constant analysis that allows you to visualize what is giving the best results and optimize to have the highest return on investment possible. Therefore, having an allied marketing team to support your sales team, with experience in the creation of all these strategies, is vital at this time.
"When times are good, it pays to advertise, when times are tough, you MUST advertise."
If you want to know how to achieve sales results with digital strategies, contact us now.