A recession is always a challenging time to manage a business. Factor in a global pandemic and the difficulties only pile up when it comes to attracting customers and preserving their safety. By considering both your business’s needs and those of your consumers, you can create a cost-effective marketing approach that’s perfect for your brand.
Extend Your Reopening Budget
Sticking to a budget is nothing new for most business owners. Especially post-pandemic, working within your means is essential. But if you need a bit of a boost, consider finding alternative ways to fund your reopening and manage your finances.
Look for funding opportunities within your community to help ease the burden of business ownership in the recession. You can find financial information that can help your small business weather the pandemic and the recovery phase. From traditional small business loans to non-government grant options, explore every funding avenue possible.
Make Compassion Your Top Policy
Though it might feel like the economy has returned to normal, people are still reeling from the effects of the pandemic. Rather than heading into your reopening with traditional marketing strategies, approach from a different angle: one of compassion.
Changing your marketing messages to suit the times is a small yet meaningful way to connect with consumers. Consider the crisis messaging of top brands as an example. Then, craft a unique approach for your audience that factors in their specific needs.
Pivot to Meet Pandemic Needs
Ideally, by the reopening stage, you will have already found ways to pivot during the pandemic. If a state-required closure forced your hand, however, it might be time to explore additional paths for your brand.
Many companies are finding that their pandemic adaptations are ideal for the long-term, too. After all, people are relying on technology more than ever. That means shopping and obtaining services from home will remain sustainable well into the future.
Head Online When Possible
For brands with a physical location, meeting social distancing requirements can mean significant changes to your business model. But if you’re in the retail industry, shifting your business operations online could mean lower overhead costs and more sales.
Moving your business online can be done in a weekend, depending on the size of your inventory. And, as Her Money explains, it can cost you as little as $200 to make the move. Though retail continues to decline, e-commerce sales are still growing, and it makes sense that the trend will outlast the effects of the pandemic.
Incorporate Social Distancing Measures
For business owners who opt to keep brick-and-mortar locations, reopening can be intimidating. The rules seem to be changing constantly, and it can be a challenge to enforce social distancing measures.
One effective and inexpensive way to encourage distancing is by adding contactless payment methods to your business. As Digital Transactions confirms, contactless transactions have more than doubled in many small businesses since the pandemic began. Making it easier and safer for your customers to buy from you via mobile payments is one affordable way to stay in business.
Seek Customers in New Places
Even if your business is a physical location rather than an online marketplace, using social media can offer a significant advantage. Heading online can help you seek new audiences that are more than happy to buy from you.
In fact, in March 2020, most survey respondents thought they would use social media more while confined at home, notes Statista. That means finding a new customer base could be as simple as creating low-cost, targeted social media advertisements.
Dialing in your online branding can help preserve your livelihood over the short term. But your efforts will also pay off outside of the pandemic. In the modern marketing era, connecting digitally is often the best way to attract and retain new customers. Reach out to Branding Creatively for their expertise in building your brand in a manner that ensures your continued success.
A proactive approach to meeting customers’ needs is always a winning marketing plan. At the same time, it doesn’t have to break the bank. By taking these steps toward creating a sound (and recession-proof) marketing plan, you can keep your costs low and your odds of success high.
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