The first step is to stay positive in a challenging situation. We always have two choices in life. Either we maintain an upbeat attitude amidst the storm or we become negative which will take us down a path to nowhere. The way you react to any situation is where the power lies and the ability to stay ahead of the curve. There is nothing we can do to change the present situation.
In terms of media consumption, the opportunities are huge and more people are consuming media than ever before. This includes TV, radio, Netflix, social media like Facebook and Instagram. Blogs such as West Island Blog with Rhonda Massad are booming with millions of visitors who are craving local information. And radio continues to inform and entertain.
Mark Cuban is an American entrepreneur and investor. He is the owner of the National Basketball Association’s Dallas Mavericks, co-owner of 2929 Entertainment, and chairman of AXS TV. He is also one of the main “shark” investors on the ABC reality television series, Shark Tank.
His point is very insightful. Plant the seeds of future business and cultivate a long term plan.
The process of brand building takes years. You have to commit to a long term strategy of educational marketing over direct response. The companies that advertise discounts and specials put themselves in a difficult position. My 90 year old mother always wanted to go to Madison’s for dinner on Sundays for the 2 for $22 special. Once they dropped it, she no longer wanted to go back. She was looking for another deal. These customers have been conditioned to chase discounts or they will not patronize the respective business. The companies that build their brand through education and storytelling will always rise above.
So what do you spend your time on as a marketer? Get ready. Stay in contact with your current customers and prepare a list of new prospects. And with respect to advertising, you must do several things.
1. Prepare your post Covid 19 messaging.
2. Focus on brand building and storytelling
3. Avoid price and item or direct response unless that’s the essence of your business
4. Maintain a balance of traditional and digital media. Do not put all your eggs in one basket
5. Remember the fine art of public relations which should always precede any advertising effort.
6. Tradigital advertising is the new watchword so that you can combine different media options based on your objectives
7. Broadcast Media like television and radio are still strong with audiences of almost 90% of the North American population
8. Be careful investing in print media as the numbers continue to tumble, however local newspapers still have a place for local businesses
9. Make certain that there is a universality of message in all media which focuses on a singular unique selling proposition
10. And have patience with your marketing efforts. Rome wasn’t built in a day and brand building takes time.