Will your business survive the Coronavirus? Nope, this is not a health-related blog. No, we are not health experts or doctors. However, hopefully this blog will find those interested in securing the success of their small business through the tough economic times ahead. We are talking marketing, finances, and brand awareness here.
The Obvious
It is pretty obvious from the stock market, closures, and the craziness happening that we are about to go through a monstrous economic downturn. As a result, many will suffer if they are not prepared. You cannot argue that fact logically. It WILL happen. It may be a few weeks (hopefully) or it may be longer term. What must your company do to avoid falling into an abyss and suffering the fate of other ill-equipped businesses?
To clarify, the cancellations of trade shows, seminars, schools, business trips/meetings, sporting events, and many other high-profile large events will undoubtedly affect us all. In addition, restaurant, bar, and other establishment closures are imminent. Other small businesses are no exception. They will feel the heat also. In fact, many small businesses will be facing very turbulent times ahead. You need to prepare!
If you don’t want to hear anymore, go ahead and click the X button at the top of your screen. Consequently, what we say about preparation won’t matter. Don’t worry, we won’t hold it against you.
You’re still reading. So, what can you do as a small business owner to ensure that your company survives?
History
Throughout history, there are some fantastic stories of business success during or after an economic downturn. The story of Proctor & Gamble during the Great Depression is a great example.
To make a long story short: Proctor & Gamble doubled down on their advertising and marketing while other companies were cutting ad budgets. P&G understood that even during the Great Depression, people would still need soap. They started new radio ads and targeted homemakers with other new marketing avenues. They faced difficult financial times during the Great Depression, but never wavered on their marketing campaigns. When the recession ended, P&G came out on top as one of the leading soap companies in the world. These ads led to the creation of “soap operas.” Because they continued to stay in front of people. They were well recognized and created a brand awareness that other companies lacked. We’ll keep the story short. Look it up. See here for other success stories: https://money.cnn.com/galleries/2009/smallbusiness/0901/gallery.founded_in_a_recession.smb/3.html
Moral of the story: don’t get left behind. Tough economic times require a HUGE push on your marketing. Scrape together what you can and get your message out. Not just any message, but the right message. Make your business known and visible. Cutting your marketing/advertising budget is a recipe for disaster.
Recommendations
Will your business survive the coronavirus outbreak? Well, that is entirely dependent on you, the business owner. We do have some recommendations though.
Now that events are being cancelled, and working remotely is being encouraged, online marketing and social media will be more important than ever! Consumers will be home and will also be on their desktops, TVs, laptops, tablets, and phones even more.
We recommend looking into paid Google ads, consistent social media marketing, Geofencing, and/or pushing your business’s SEO (Search Engine Optimization) RIGHT NOW! Currently, we still have Facebook. Instagram and LinkedIn are still up. We still have Google. Cell phones are still working. Additionally, make sure that your company website is updated often and optimized. TV or radio ads will do wonders, too.
The creation of an interesting and visual marketing campaign is vital. Start thinking about it yesterday. Because, it will separate you from the competition. Your competition likely will cancel ads or downplay the importance of their marketing and advertising. They will suffer.
Conclusion
The cream will rise to the top. Prepared businesses will reap the benefits. The Coronavirus could be a serious hinderance or a unique opportunity to separate your business from the rest of your competition. The question is, how will you use this moment?
In conclusion, as a local marketing firm, we feel it is our obligation to help other local small businesses as much as possible. We are deeply concerned about the success of our colleagues within Westmoreland County, Pa. and the surrounding areas. The United States of America, our citizens, and the millions of small business owners here are a resilient bunch. We will get through, but it will be hard. Nothing new for any of us.
We must all be prepared though for the coming weeks, months, or hell…even years. As a result, you can plan to position your business for stability now. Will your business survive the Coronavirus?
Stay healthy. Stay smart. Don’t panic. Don’t let failure occur. We all need to stick together. Let us know how we can help. For a free consultation in creating a strategic marketing plan, feel free to touch base with us.
Reach out to us by phone at 412.889.3495, or rob@77designco.com or bobby@77designco.com.
Analyze. Create. Achieve.