Marketing and PR in a pandemic – why you need to do it
It is fair to say it is changing times and whilst many businesses will perish due to the winds of change brought on by the coronavirus, it is still a time of opportunity for many.
Focussing on the possibilities is something that all pro-active businesses are doing, or already have done, in the crazy months since March.
And a little lesson from history, which might give a pointer to those who are at a crossroads now, wondering how can they ensure that when the world gets over the initial impact of the pandemic that they still have a viable business, which in a few years’ time they can look back and say: “It was scary at the time, but with hindsight it was the best thing that ever happened to us.”
A nugget of wisdom we have unearthed is the work by https://www.mheducation.com/ in the United States, which analysed the growth of 600 companies across 16 different industries from 1980 through 1985, which overlapped a recession from 1981 to 1982.
The results were startling – for the firms that maintained or increased their marketing budgets during the recession period grew faster, far faster than both during and after the recession.
By 1985, those companies that continued to invest in marketing through the recession boasted an average sales growth of 275% over five years, whilst the other companies that chose to cut costs grew just 19% over the same period.
It is research which shows that during the current crisis keeping your profile high is vital.
It may be that your more expensive competitors become too pricy for their clients, who can then be your clients. After all, at a time when budgets are under scrutiny you may find people will listen to you now more than you every thought previously.
However, to do this you really have to keep your name out there. Really work hard on your PR – get your name in magazines, newspapers, online, and send interesting content to those who you could work with. Start really working on those potential customers.
Remember the first step in any customer journey is for a potential client to be aware of you. It really is not a time to go quiet. Go quiet and you become invisible. It’s utterly counterproductive and makes good business sense.
So recall this little lesson from history and plan your profile raising now. Who knows where you might be in five years’ time if you do.