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Today, because of COVID-19, many companies are facing the biggest challenge of their existence: uncertainty. Beyond the consequences that the world is already experiencing because of the coronavirus and the measures that each country has decided to take, business leaders may feel that they must take a 'leap of faith' in each step they decide to take, since there is no clear path as to what the future will bring.
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 will remember you today more than ever and reach your business goals despite the current circumstances. Remember that money has not disappeared, it has simply accumulated in certain industries of first necessity.
What actions can I take?
The best way to ensure that you are in the minds of your customers and prospects during difficult times is through advertising and the facts confirm it. During the U.S. recession, 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 so 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 x 1 plane tickets for Italy or Spain at the moment would be counterproductive, so what would you do?
Here we leave you with 3 clear actions so you can accelerate your sales and be in the minds of your potential customers at this time.
Know the state of the industry and focus on where the resources are
There are sectors whose demand has increased exponentially at the moment, due to the priority of their supply. A clear example is the food and beverage industry, medical materials, biotechnology, cleaning products, personal hygiene products, transport and logistics.
Other sectors have gone from being an option to a necessity, due to the change in people's routines, such as technology companies, which 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 have 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 workouts (some are already doing so), 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 have needs 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 network users it is important that brands take a stand on social and political issues. In fact, 50% of them say that they could 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 fits the current context. For example, if you have a brand of bicycles, it would be advisable to pause the content that invites people to go out and exercise, and start creating content that invites people to maintain a healthy and active life from home.
Creating new content may require quick action and creative thinking, allowing companies to reflect on how their users are being affected by Coronavirus and focus on providing solutions.
This may mean that you have to pause current content and work on new quality publications with various 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 generally facilitate people's lives 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 teleworking solutions and tools, just to mention one example.
Sourcing leads now and finding new ways to sell
Just as you must stock up on the supplies you think your house might need in the quarantine period, so must your company "stock up" on potential customers. You should do it now and not later. It is very important to devote time, effort and resources to prospecting and lead generation right now, even if you or your team are "busy.
This also applies to companies 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 the possibility that the pandemic will have a wider economic impact as time goes by. Your business will be well served if it has an abundance of leads to work on over the long term, and better yet, 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 shot up 129% as of March 15, because people are not leaving their homes. So if you're not doing it, now is the time to implement strategies that allow you to sell online and provide home services.
Finally, it is important to consider that any online strategy to accelerate sales, must carry constant analysis that allows you to visualize what is giving the best results and optimize to have the highest possible return on investment. That is why having a marketing team allied to support your sales team, with experience in creating all these strategies, is vital at this time.
"When times are good, it's good to advertise, when times are hard, you MUST advertise."
If you want to know how to achieve sales results with digital strategies, contact us now.