Everyone is familiar with the current global pandemic and its effects on our lives. Almost every affected nation has been quarantined for over two months, sabotaging the economy on a large scale. The recession is near and clear but we can’t just sit and watch that happen. So, having felt the uncertainty that Covid-19 has brought on, communities, businesses, and individuals kept on taking preventive measures to safeguard their operations just like they are keeping themselves safe from the infection. While expecting the spread might slow down soon, consumers are shifting their demands and purchase behavior. Likewise, the businesses are reconsidering their marketing strategies and models to withstand the prevailing storm.
Yes, there are firms that are letting their employees work from home but not every industry or business can be operated by just sitting at home. Several strategists have been working on the ways to help these businesses survive in these difficult times without catching the deadly infection. They are bolstering the right information, market insights, and processes to help them stay alive in the business world. Many of these entrepreneurs are in a quandary whether they should engage in coronavirus advertising or not. And the experts can only advise going for it without a second thought. Explained below are the reasons why.
The recession had been a part of our lives in ancient times and somehow, we managed to survive it back then. Every experience of those times can be used as a lesson to tackle current crises. The hard times that our economy faced earlier give us an opportunity to grow even in the worst of all situations now. While companies use their past lessons, they should consider a few important things. The market condition and demand are highly volatile these days, so companies must adapt to efficient processes and deal with them. Secondly, they must continually work on promoting their brand through excellent marketing tactics. Those who will stay relentless today are definitely going to reap hefty profits later in the forms of decreased competition and increased brand awareness.
There have been several examples of organizations leveraging their advertising campaigns during crises to keep their business going. Be it Kellogg’s during the 1920’s crises, Toyota during the 1973-75 recession, or Amazon during the great recession of 2009, their advertising spends helped them surpass the uncertainty and burgeon their market share.
In simple words, when everyone pulls back, those who continue, succeed. So, advertising, when others don’t, opens up several windows of opportunity. They achieve growth in market share, improvement in advertising deals, and an increase in brand awareness. Another way to see that coming is by keeping a tab on the competitors’ activities. What they are doing and when and how they are advertising foretell a lot about their strategies. Having understood their marketing ideas during Covid-19, businesses can improve their position in the search engine result pages by making only a few tweaks in their campaign. The reduced Cost-Per-Click (CPC) and top customer experience, eventually turn out to be the by-product of the gained market position due to continuous advertising efforts.
Businesses run on past experiences since there is no universal principle for this occupation to function. We encounter a certain situation, good or bad, act on it, and either win or lose. If we win, we set an epitome for the newcomers to follow; and if we fail, we learn from our mistakes and teach others what not to do. As everyone is taking preventive measures to survive, businesses are keeping up with their advertising efforts to stay alive. Although the tough times like these don’t last forever, it doesn’t hurt to continue connecting with the audience for a better future.