Hi everybody, this is Alex and this is another episode of makers and marketers.
At the moment that growing a virus crisis is unravelling and it does have the potential to disrupt quite a lot of marketing budgets and marketing activity overall.
If you are in the restaurant and travel verticals, especially I think the next few months are going to be very, very critical.
So we’re going to talk about some strategies around how to navigate the current ecosystem. We’re not going to lie, I think is going to be very, very difficult at the moment, especially over the next three to four months to actually see an uplift in sales or even do marketing properly.
So going back to the Retail and Travel verticals, I think the best way to sort of deal with the next few months is changing slightly your marketing strategy. So I would say instead of trying to drive people towards your stores, instead of trying to get people to buy excursions, which they’re not going to do on at the moment, the best thing would be to turn your content into a bit more of an educational twist.
And what I mean by that is, for example, if you are a restaurant and you have a really good chef working in your premises, you could have them create a video of them cooking.
You could also have some recipes coming out. Obviously make sure that you’re not featuring a lot of pasta, heavy recipes because we all know due to panic buying their insurance supply. So by doing that, you’re still maintaining that one to one relationship with your consumers.
The other thing you can do is issue vouchers. The vouchers have the huge benefit that can be bought now. So you basically get the money upfront and there also a future promise that people are going to be visiting your business. So I think it’s a really, really good way of engaging with the consumer right now, making them essentially a promise that you’re going to be around for the next months to come. And you both are in this together.
The other thing that’s happening as well, and I’m sure a lot of people have noticed this, is that there’s a change in attitudes and behaviours around things like remote working. So if you are positively affected by this, if you are a SaaS company that is seeing quite the uplift, this is the time to be kind and generous. This is a time to go out in the market and give people your software potentially for free or give a substantial discount.
Be a bit careful about general sales communication and how you approach this during this time. Because I think the last thing you want to do is appear like you’re profiteering from a bad situation.
The other thing to talk about is cashflow.
So if you are cashflow positive and you’re going to be a bit less obviously in the next few months that’s a good thing. I would say. What do you need to be thinking about at the moment is conquesting. What I mean by that is that most likely your competitors are going to be pulling out of activity.
Most likely they’re going to be decreasing budgets. So in terms of the biddable channels, this is a great opportunity to go in and and grab a bit more of a market share.
If on the other hand you’re a bit tight on cash, what I would suggest doing is doubling down or your core channels, not doing too much experimentation but basically focusing on what you know works has worked in the past and is likely to work in the future. So it’s not so much about going out and discovering new channels at this stage for you, but is mostly about making sure that what works works.
Finally, if you are into a account based marketing, if you are part of a sales team, I would say overall be a little bit careful around outreach during these times.
I have seen personally countless messages on LinkedIn complaining about too many salespeople trying to sort of sell stuff during this time. And you have to think about people’s mindsets.
Now, a lot of people are stressed.
A lot of people have been made redundant.
A lot of people have kids at home at the moment or elderly relatives and they’re not, aware of the current situation in the market.
So they’re not in that mindset of let’s go out and buy software or let’s go out and buy whatever you’re trying to sell them. I think the key thing here is to be relevant is to be considered.
And overall, don’t overdo it.
Don’t pass through people during this time because I think our, the end of the day is going to reflect on you quite badly.
You have to make sure that their relationships you’re forming during these times are quite meaningful. So this is it from us.
Obviously. If you have any more ideas, feel free to email us, comment and sort of share them with us. Thank you very much. Thank you for listening. And we’d be right back.