Adapting your Business During Crisis

If 2020 taught us anything it is that in the midst of a pandemic or not, a crisis requires adaptation. To combat this, here’s a handful of key points to help you fare any future storms.

Be Kind

People, as well as businesses, are hurting, especially as this pandemic rollercoaster continues. It’s vital to communicate that your brand stands in solidarity with everyone and that you’re a bastion against the chaos of the global, social, political, and economic conditions we’re all under; The key is empathy and lots of it. For example, a handful of banks are waiving overdraft fees and subscription services are offering months free, not only in an act of compassion but also to remain competitive.

New Media

It’s important to also become more sympatric in your media offerings. Global brands contextualised their messaging in order to avoid being inconsiderate or heartless. Here are a few examples:

• Pret A Manger (UK) offers all National Health Service workers a 50% off all their products
• Coca-Cola’s tagline has been “staying apart is the best way to stay united.”
• Ford rolled out their campaign “built to lend a hand”

Capitalise on Affordable Ad Space

Ad networks operate using an auction system, typically relying on the influx of small businesses increasing cost-per-click (CPC) prices for their ads, leveraging this into more expensive ads for larger companies. Unfortunately, COVID-19 has resulted in an influx of small businesses no longer operating, though fortunately for you this means you have the opportunity to capitalise on more affordable ad spaces opportunities due to reduced competition.

Increased Return On Investment For Paid Ads

These price benefits are compounded now that digital traffic has spiked with the globe spending more time online with many inside. Paid ads are not only cheaper but more effective, even with reduced conversion rates across a number of industries they’re yielding significantly greater returns than they were prior to the outbreak of the pandemic.

Always Look On The Brightside

Crisis means growth from different pressures, which can either burst pipes or make diamonds – let’s make diamonds. It’s a steep learning curve for us all but we must adapt to make the best of a bad situation.

From a public-policy perspective, we need to do what we can to manage the consequences of any crisis, though in this case practising social distancing and staying indoors. From a marketing perspective, it means changing with the times and having a heart.

Good luck!