Stronger Than Ever Before
You’re probably fed up of hearing about how industries and businesses are falling on tough times due to the current pandemic. However, it’s not all doom and gloom and we want to focus on the silver lining to show you how your business and brand can become stronger than ever before.
Although Covid-19 may have caused a halt to your normal operations, it could also open the door to alternative opportunities that you may have never considered before or ones that were never an option. If you are willing to adapt, then you could start reaping the rewards.
Adapting to the times
One of the main business benefits of Covid-19 is the drive towards digitalisation. Being a tech company that provides innovative and useful technology is a great position to be in right now, especially if your solutions mitigate customer problems.
Due to the immediate effect of an entirely remote-based workforce, many companies are having to adapt to the changing work environment with immediate effect. This drastic change has uncovered flaws in the company’s IT infrastructure, leading them to have to rapidly invest in technology to continue operating efficiently. According to research, there has been a 40% increase in spending on software since lockdown was initiated.
Take FinTech for example, these companies provide vital services to the financial sector such as AI-driven transcribing and reporting or payment platforms. Recently, InsureTech and RegTech tools have experienced a boom in their sector due to unanticipated demand. Many financial intuitions such as the insurance sector are still predominately driven by customer interaction and continue to be highly regulated. So utilising InsureTech tools that will confirm all remote-based workers are having compliant conversations has become even more integral.
Make the most of the opportunity
If your company is innovative and adapts to the changing times, it has the potential to come out of lockdown stronger than before. Below are just some of the ways you can adapt to ensure you thrive during these difficult times.
Review Marketing Plans – In light of these drastic changes, it is important to review your existing marketing plans and ensure you are not being tone-deaf to the situation. You need to determine if each piece is now relevant or if you need to rework and or even remove them completely to ensure you are only releasing highly engaging content. You always have to bear in mind, does this serve your audience in a practical way? Does it add value and not noise?
Educational marketing:
Rather than focussing on the hard-sell, companies should use this time to deliver educational marketing content that advises your customer rather than directly selling. Referring back to earlier, if you are a FinTech company you could produce informative content around your product offering and how it directly benefits them, now more than ever.
PPC
Many companies have chosen to cut back on their marketing spend and this includes PPC. This has been evidenced to us by a call from Google asking if we need some help with our PPC campaigns! With less users bidding on keywords in your industry, right now might be the perfect time to create a really tactical campaign to garner some quick results.
Be digital:
With many companies becoming accustomed to a new way of working and regularly getting involved with video meetings and webinars, now is the time to seize the chance to create engaging video content, whether it’s for your social media or hosting industry-specific webinars.
If used wisely, you can transform this negative situation into an amazing opportunity and use it as a way to boost your brand and maintain clients’ trust and relationships.