Amidst the worldwide pandemic and historic economic shift, sales managers and business leaders everywhere are busy trying to adjust business models. A majority of business owners are re-inventing their business operations in a time where most people are "sheltering-in-place" and can no longer physically visit their place of business.
Once you figure out what this new world order entails for your organization, it’s time to re-examine your marketing strategy—not just your advertising and commercial messaging. COVID-19 is shifting consumer behavior and media habits, and we all need to make sure our strategy changes with them.
Regardless of your industry or title, a lot has happened as a direct or indirect result of COVID-19. Forbes states that in the coming months, businesses are going to become more reliant than ever on their digital strategy. In industries that are not digital-native, this is a big adjustment to their marketing strategy.
A marketing strategy involves so much more than advertising and commercial messaging. Still, this aspect is how you start getting your brand and message out; it’s how you start forming relationships that used to be built face-to-face. Right now, is the perfect time to adjust and update your marketing to reflect the changes in the world today.
3 Reasons to Update Your Marketing Strategy
1. Your Targets Have Changed
You know this is true—but seeing in writing is a bit shocking. Everyone has changed due to the results of COVID-19. Things that we never believed were possible, just happened. The world, overnight, flipped a switch, and we became a remote culture.
A lot of customers who have religiously drove to your location to do business—can't do that today. They either jump online and purchase your goods or services, or they have found an alternative. You need to take time to evaluate who your target customer is today, not two weeks ago. That answer will change how you build and update your marketing strategy.
2. Customers Want Different Things
Another big, shocking change has occurred —our priorities have changed. Our desires have evolved, and most importantly, our lifestyles will be different. How will that impact your business, your customers, and what they want from you?
Now is the time to think about this new world order and how it will impact the consumer journey that your customers take to purchase your products or services. You need to ask them what they want, how they want it, and how you will deliver it to them.
3. Your Competitors Are Doing It
Yes, your competition is re-evaluating their marketing strategy right now, maybe even last week.
- They’re asking themselves these questions
- They’re surveying their best customers to find out what they want
- They’re gathering their best people to figure out what are their next steps in this evolution of their customers and business
If you don't take this time, you’ll miss a golden opportunity to launch the next version of your business.
Ask yourself, what is the 2.0 version? And how can I get there? Once these questions are answered, then you can move on to how you will position yourself and what advertising and promotions will you use to communicate your message.
Now, is the time to make this happen and update your marketing strategy before it's too late and your future has been set in stone.