Make COVID your moment to marketJune 2020
Why investing in marketing right now will set you up for future success: Part 1 of 2
Every business takes its ups and downs when it comes to marketing – but we’re truly facing something new with COVID-19. While some businesses are thriving, others are finding ways to innovate, adapt and even pivot to entirely new markets. If one thing is for sure, there really is NO playbook, manual or step-by-step method for marketing your business.
That doesn’t mean the opportunities are lacking. In fact, now is likely a great time to increase your marketing budget. Did you know that Google search and social advertising cost per click is down across the board? And that top talent is available to help you create those meaningful campaigns that people will be talking about five years from now? In a nutshell, marketing is LESS expensive than it has been in the past 5 years, and MORE people are spending time on the platforms where it’s easy to be seen.
So, where do you even start? Great question. Let’s get going.
1) Identify your research tools – why you need them to start building your marketing strategy
Some of the most notable gains in business were established during recessions – and marketing plays a key role in that. Knowing that gains can be made during recessions, it’s important to consider these key factors when it comes to marketing:
- Research what you’ve done: Digital tools are readily available to make sense of market trends. Use things like Google Analytics, Google Trends and other tools to measure your website and ads.
- Get serious about your goals: Set (and keep) your goals, even if you haven’t hit them in the first two quarters of 2020.
- Remember that top marketing talent wants to work with you: Scoop up talent while they’re available!
2) Lay the foundation for new marketing – especially with changes in work environments
Take a look at the past year of your marketing. What was working? What wasn’t? Are there underlying reasons for specific performance that are directly impacted by societal changes like working from home – or working from anywhere? If you were an event-based company, you’ve likely already switched to digital-first tactics. And the reality is that increased e-commerce is creating a ripple effect across industries. If you’re going digital – you’re doing things right.
While there are large sectors of the economy with futures that aren’t so clear, knowing where activity is happening can help you find ways to be a part of the action. What’s going on in your community and what are people participating in (even if it’s online)? Once you know that, you can begin effectively positioning your business by warming up new audiences with branding and testing different types of messaging.
And with advertising costs down across the board, the price tag associated with learning new markets is much less than it was just six months ago. Would you rather learn those lessons now, or pay double and start from scratch when everyone realizes the same opportunity?
3) Take advantage of the talent pool – it’s at your disposal
While it’s true that unemployment is high in Minnesota right now, it likely won’t stay that way for long. If history is any indicator, an upswing is in our near future. When unemployment is higher, it means the Class A talent pool is bigger. The all-star players that you’ve been dreaming of having on your team are ready to get to work – and they’re ready NOW.
Employment plays a huge role when it comes to setting and determining marketing strategies for 2020. And the first step is to analyze and strategize. Who’s working? Who has a budget? Where is it being spent? What’s the current market climate? How can I reach the talent I want?
That new brand campaign and test messaging you’ve been considering not only costs less to place, but the talent to help you execute simply wasn’t available just three months ago. Marketing and creative directors, copywriters, videographers, sound engineers and editors are all eager to work, and many will consider a contract job or contract-to-hire position that they wouldn’t have in 2019.
Let’s get talking
So, what’s your next step? Talk with True Talent Group. Let’s get a discussion going about your needs both now and in the near future. We are here to advise and help you find the right marketing, creative and digital talent. Get started by emailing: email@example.com.