Thrive in tough economic times

No matter how much planning you did, no-one could have predicted the roller-coaster ride that is 2020. While some businesses barely survived, others thrived. What made the difference? Those who are agile, creative and available to their customers are the ones that are thriving.

So, how does a business thrive in 2020?

Being creative and agile does not necessarily mean pivoting your product offering to something entirely different. It does however mean rethinking how you offer your products or services. So for instance, you may provide packaging to one specific industry that doesn’t do business like they used to anymore. They may now only offer home delivery options. Therefore your packaging products need to be presented to them in an appropriate way. It may also open up an avenue to a new type of customer.

Another way to be creative and agile is to change the way you communicate with your clients. So instead of site visits you may have needed to change your strategy to Zoom calls and Google meetings. You may have needed to do virtual tours or showcases of your products.

The same goes for your marketing. Reaching new customers may have previously meant printing flyers, but this is no longer suitable. You can’t do drop-in visits to your customers either, so how will you reach them? 

No one can predict how long the social and economic impact of the current global situation will be. Thus we need to adjust to the current situation and not attempt to “wait for things to go back to normal”. The reality is, things may never go back to the way they were. So, how does one thrive?

Right now, the best tools you have are your online assets. Now you need to make use of what you have to reach your current and potential clients without the luxury of personal, onsite interaction.

Here are some tools that you can use:

• Email marketing still has the highest ROI of all marketing channels.
• Your website, your online storefront and your number one asset
• Your Google My Business page
• Google Ads for you to reach potential customers
• Social media to reach those people who have already shown an interest in you and to reach new customers
• Remarketing for a cost-effective way to re-engage your previous website visitors for a second time
• Video marketing using testimonials, new footage, old footage or stock footage
• Online meetings

The advantage  is that you have all of these tools at your fingertips already. If you haven’t implemented all your strategies yet, it is simple to get this done right now. Some businesses are minimising their marketing budgets, which may mean cutting back on marketing spend or reducing staff levels in their marketing department. This is the ideal time to make use of experts such as DMM to assist you by doing things right the first time and eliminating unnecessary expenses and saving you time. If you are looking to boost your leads and income for the foreseeable future, DMM would love to assist you to thrive. There is nothing we love more than helping our time-poor clients achieve their desired results, fast.