As most businesses across industries are taking a huge hit during the COVID19 pandemic, it is even more challenging now to find your footing in today’s market. Many companies are forced to lower their costs and unfortunately, one of the first to be affected is the marketing budget. Some companies have even decided to let go of all their marketing efforts altogether.
This is a grave mistake that can worsen the damage to your business and it is safe to assume that the pandemic is already costing you a lot. When people stay indoors and have more free time than ever before, it would be foolish not to take this opportunity and strengthen your growth marketing efforts to encourage them to make meaningful purchases from you.
Adjusting your marketing strategy is never an easy task and it is even more daunting when you are doing it during a period of uncertainty. If you wish to make changes to your growth marketing strategy during this pandemic, here are several marketing mistakes that you should definitely avoid.
- Offering products at high/raised prices
Many businesses are making the mistake of increasing the prices of their products during the pandemic. Yes, times are hard and your business is struggling, but this doesn’t mean that you need to put pressure on your customers. The economy is the worst it has been in decades and many people have either lost their jobs or experiencing massive pay cuts. The purchasing power has decreased significantly and increasing your prices will only drive away customers. Moreover, this is a time when it is crucial for you to maintain your brand and your business value, and a huge part of that is ensuring that you maintain your pricing. This also sends out a message to the customers that you are still the same, reliable, and trustworthy brand that they love.
- Ignoring the power of online growth marketing
During this pandemic, more people are staying home than ever before, and what do we do when we are bored at home in 2020? We go online and stay on our phone and laptops for hours on end. This means that you can reach a large number of people through online growth marketing. Whether it’s Facebook Ads or Google Ads or improving your social media presence, you cannot deny the benefits of a great online marketing strategy. At a time when everyone is staying indoors and spending time online more than ever, it doesn’t make sense to invest in traditional and outdoor advertising. Besides, going digital is cost-effective and can bring about the results you are looking for.
- Being tone-deaf in your communications
The COVID19 pandemic is an event that the world hasn’t faced before. It is a challenging, scary, and uncertain time for everyone and it is crucial that your business acknowledges and respects this in your communication. Do not be condescending or disrespectful to your customers or your competitors in any way in your marketing messaging. Do not try to minimize the pandemic’s impact on any group of people or try to make it sound like things are not as bad as they seem. Regardless of what your intention may be, this will only paint you in a bad light. Instead, show solidarity through your communications. Assure your customers that you are all in this together and that you believe you can come out of this stronger than before. Be compassionate, understanding, and inclusive. Your audience will appreciate it.
- Focusing too much on bringing in new customers
The truth is that even with your marketing efforts, achieving growth will be challenging during the pandemic. This is why instead of focusing your efforts on bringing in new customers, it would make more sense to pay attention to your existing customers. Your current customer base needs to know that that they are valued and appreciated, and that you have not forgotten about them even during tough times. It would serve you well to emphasize, in a sensitive manner, how your brand can help make hard times easier for them with your products and services. You can even offer special discounts for them to help increase your sales. Besides, keeping your current customers is more cost-effective than attracting new leads from outside and you need to be frugal in your investments during this time.
- Being too broad/universal in your marketing
You may think that adopting a broad approach to your growth marketing strategies is the way to go because it would make your appealing to larger groups of people, but this isn’t always the case, especially during a pandemic. Instead, what you should be doing is focusing on your target market, that is, the consumers who match your buyer persona. These people are much more likely to make purchases because the pandemic is a time when consumers are focusing on what is important to them. With a limited budget, they prioritize their purchases and would rather stick to brands that they know and love instead of buying from a brand that they have not interacted with before. During a time when people prioritize their needs over their interests, brand familiarity plays a huge role in determining purchasing decisions.
- Failing to optimize your website for mobile
Another important consideration to make during the 2020 pandemic for businesses is optimizing their website for mobile. A majority of consumers are accessing the internet using mobile phones and this shows how important it is for businesses to have a stable and reliable mobile platform where customers can make purchases smoothly and easily. Mobile-friendly websites with visually appealing designs that are easy to navigate can increase traffic to your site exponentially and reduce bounce rates. You should also consider mobile apps for a more smooth and seamless interaction for customers.
The pandemic has affected every aspect of our lives in ways that are new to us. For businesses to minimize their losses, it is essential that they adopt smart growth marketing strategies.