The health and economic challenges brought about by the COVID-19 are making it hard for businesses to stay afloat. The reduced activity prompted these organizations to cut down on their expenses wherever possible. Some have had to furlough employees, reduce their operations, and bring down their marketing spend.
If you’re among those firms who chose to cut down their marketing budgets, you might find these insights interesting:
- B2Bs in the United States are expected to spend $8.14 billion on digital ads in 2020. This is a 22.6% increase from their spending in 2019. (eMarketer)
- Email marketing performance has skyrocketed even amid the pandemic; email revenue has gone up by 86%. (AdWeek)
If you have been struggling to drive business, investing in your digital strategies once again can help you stay afloat and prepare your firm once the world reopens.
Here are three tips to make the most out of your marketing budget and achieve successful online marketing amid the pandemic:
1. Always Be Ready to Adjust to Craft the Right Campaigns
These unprecedented times are demanding all brands and businesses to be flexible and adaptable to changes. While the world may have gotten acclimated to the new normal, the pandemic continues to unfold and present new challenges every day.
Because of this, marketers need to constantly be on the lookout for strategies that are and are not working. Consequently, they must find ways to respond to these by adjusting their strategies depending on the world’s situation.
Email marketing is one agile strategy you must leverage in these times. Emails can be easily changed in terms of the message, tone, and frequency. On top of that, they are relatively low cost, but they have the potential to bring high ROI.
2. Aim to Strengthen Relationships with Your Audience
Email and other digital marketing strategies, such as social media and content marketing, help you increase your visibility. They also help you put your product or service offerings at your customers’ “top of mind.”
However, you may want to shift gears in these sensitive times and focus on building and strengthening relationships with your customers.
You can do this by striking the right balance between sending offers and sharing useful and personal information. Don’t be satisfied with simply selling. Strive to provide value to both your prospects and existing customers through your email newsletters, blog posts, or social media content. They will surely appreciate our efforts during this pandemic.
3. Meet and Tap Buyers at the Right Place
One of the most significant changes brought about by the pandemic is the reduction of physical operations and face-to-face interactions. This led to an increase in online transactions and purchases over the recent months.
While this is indeed a big shift, this does not seem to be a big problem for buyers. This is especially true for B2B firms, with a McKinsey study showing that 80% of them prefer B2B sales online. On top of that, 75% of them say that today’s’ new digital sales models are as effective or more effective.
This means that it’s not impossible to drive business amid COVID-19. However, you will need to show your customers the right ads in the right places. To get the best results, tap email and digital ads for your sales as these are where the buyers are.
The world today is greatly impacted by the COVID-19 pandemic. While the current situation is indeed challenging, you can successfully keep your business afloat by leveraging smart marketing practices. Exercising flexibility, providing helpful content to your target market, and showing ads at the right places all help you navigate this crisis safely. Finally, discovering what works for your firm will enable you to drive business opportunities, even amid this crisis.
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