In mid-March the Summa Media team saw many businesses pause or redirect their marketing campaigns without giving much thought as to what their new strategy was going to look like. Brands knew that given the current situation, they needed to adjust certain goals, halt now irrelevant campaigns, and prioritize ensuring their business stayed afloat in other ways.
While this sudden freeze made sense at the time, the Summa Media team has unfortunately noticed that many brands have not figured out how to adjust and prioritize their marketing strategy again. Because of the uncertainty of this time many brands have a fear of spending precious dollars on marketing right now. Those that do have budget to spend are concerned about coming across as tone-deaf or insensitive in any campaigns they run. As a result of these fears, many marketers across the country have simply stopped marketing.
In order for your brand to achieve any of the business goals you set back in January 2020, you need to focus on your marketing efforts through the remainder of the calendar year. This doesn’t mean spending money you don’t have on crazy campaigns or pretending that everything is the same as it was at the beginning of the year.
To help your team achieve your goals there are four key areas of marketing you should be focusing on. Today, the Summa Media team is going to explain each area in detail to help you make the most of the last few months of 2020.
1. Customer Retention
During a difficult time for your business and for the rest of the world, the most important area of marketing your team needs to be focused on is customer retention. It is less expensive to retain a current customer than it is to bring a new one on, so spend your energy nurturing the customer relationships that you already have.
Find new ways to engage with your customers via social media, email, and your website. Keep them up to date on your current offerings and any news you have to share. Don’t be afraid to try and up-sell your current customers during this time either. Customers that already know, trust, and like your services or products are much more likely to invest in additional services than those unfamiliar.
Finally, keep customer service a top priority. Find small ways to say thank you to your clients and show them how much you value and appreciate their continued loyalty.
2. Your Pipeline
You also need to spend this time nurturing your pipeline. It is likely that you will see customer turnover slightly heightened this year no matter what you do to retain them so you must not forget about your pipeline.
Focus on generating new leads through social media campaigns and cold outreach. Keep your efforts as low cost as possible to protect your budget during the remainder of the year.
3. New Opportunities
New opportunities can come in many different shapes and sizes and will look different brand to brand. Sometimes we tend to get tunnel vision with our offerings, but there is no time like the present to diversify a bit. New opportunities can take the form of:
- Additional services or products you have been debating launching
- Neighborhood partnerships — give discounts to another local businesses customers to drive new visitors and vice versa to help support a neighbor in need
- Leverage relationships and partnerships you have worked with in the past. Invite a friend on your podcast or host an IGTV with another business to help boost exposure
- Have an e-book or webinar idea that you have been working on? Now is a great time to put that content out in the world!
As human beings we tend to fear change, but often times our choices are adapt or die and at Summa Media we choose adapt every time.
4. Digital Connection
During this crazy time we are all relying on digital platforms — Instagram, Zoom, iMessage, etc. — more than ever before to connect with one another and entertain ourselves. Use this increased reliance on technology to your brand’s advantage. Take the time to fine tune your social media strategy, create a free webinar series, and use Zoom to host your sessions. The options for connection are limitless in this day and age so don’t be afraid to think outside the box!
If you are struggling to market your brand in a cost effective, sensitive manner during this time, the Summa Media team is here to help. Give our team a call today to discuss how we can help you redirect your marketing efforts to focus on customer retention, your pipeline, new opportunities, and digital connections to maximize the final quarter of 2020.