A 3 minute insight into our current situation.
This past weekend was to be the annual Kentucky Derby. Unfortunately, due to COVID-19 the race has been delayed until September. While we didn't get to experience the normal excitement and pageantry the Derby provides, another race has already begun. Did you miss it? Were you even aware that it has started?
The race I'm speaking of is the rebound out of the COVID-19 crisis. While we may still be seeing increasing amount of cases, across the nation some states are beginning to relax restrictions. The pressure to reopen businesses is growing. Is your business ready for this race or have you already missed the start?
As of May 4th, I believe businesses fall into 3 categories; those that never stopped running, those that slowed down, and those that stopped. I'd like to add a fourth, those that kicked into high gear and did more, but I think only a rare few businesses fall into this category. Now I could analyze each based on operational performance but I'm going to focus on their marketing actions. Operations could have ceased while marketing efforts were still running.
If your business marketing kept running along at its pre-COVID-19 pace then it's business as usual. Maybe you changed your message but your implementation stayed consistent. Your brand remained active and ready for sales increases as life returns to normal or the new normal, whatever that will be.
When the world began shutting down on March 12th, if your business lightened the reigns and slowed down, you are now in catch up mode. Hopefully, you have taken time to reflect, and even develop new campaigns to relaunch your business. What have your competitors done during this time? Are they charging ahead or holding back? Have you already lost market share due to their efforts? If they are already running at full speed, you may find it difficult to take back the market share you've lost. This is not a good place to find yourself. The time is now to snap the whip and go all out.
For the final group that pulled back and stopped, you've lost your momentum. Rebuilding it will take much more effort than those businesses that slowed down. You say you were forced to shut down? Operationally, maybe you were, but your marketing shouldn't have stopped. This was the time to continue developing relationships with your current clients. One coffeeshop I frequent has been active on social media documenting the new products they are testing for when they can reopen. They are doing all they can to stay top of mind. So if you've halted your marketing, get on it today!
No matter which category you find yourself in, the time has come to be running fast. Your message at minimum needs to say that you are preparing to open, expand, or return to normal once the restrictions are lifted. I expect there to be a sales explosion as there is pent up demand. Consumers will want to experience their lives as they were by patronizing their favorite spots. Prepare now for the onslaught as the race out of COVID-19 has already started.
At Shockwave Marketing Systems, we help business owners who are frustrated with their marketing results by taking them through a four-step process to clarify their marketing, save time and money, and build sales. Getting your message right is step 1. Through a few exercises we'll help you find the clarity your marketing needs to get the better results you are looking for.
If you desire better marketing results please contact us at 314-467-8404 or firstname.lastname@example.org.