Connecting with Your Market in the Age of COVID-19

To say that we are living in unprecedented times might be an understatement. Within a few short weeks, companies all over the globe have had to realign and regroup thanks to lockdowns, quarantines, and social distancing efforts as governments struggle to stem the tide of COVID-19.Since the World Health Organization (WHO) classified the novel coronavirus (COVID-19) as a pandemic, businesses large and small have been bracing for impact as operations, services, and supply lines have been interrupted.

While the long-term effects of these multiple shutdowns across the world have yet to be determined, markets are already feeling the pinch. Wall Street plunged 12% on March 17, 2020, resulting in some of its worst numbers since 1987. In addition, the World Economic Forum reports that traders have been panic-selling over the past weeks as fears about the global pandemic feed into the market’s volatility.

CNBC claims that veteran analysts have begun warning of a global recession, possibly the worst since 1929. It’s safe to say that economists and businesspeople worldwide have certainly been in a whirlwind of concern over the state of the global economy over the past couple of weeks. However, all that doom and gloom may not necessarily have to spell disaster for your business.

In our post about the ‘4 Emerging Technologies for Small Business Growth’ we made an effort to underline the growing relationship between small businesses and technology. This period may provide an opportunity for businesses to maximize their technological capabilities. Despite the upending of traditional modes of operation, it’s still possible for businesses to reach out to their markets. After all, social distancing is about keeping each other safe, but it doesn’t mean that you have to stop marketing altogether.

Here are a few marketing tips that businesses can use to connect with customers in the age of COVID-19.

Go Back to Basics

The development of marketing strategies in the digital age has been all about jumping on to the next shiny new thing, but Small Business Trends notes that old school marketing techniques may be coming back into the saddle. The Internet and online connectivity has democratized advertising and marketing in many ways, but it’s also created a culture of expectation. Modern consumers are smart and wary of a hard sell.

Going back to the fundamentals may help your business create more meaningful connections with potential customers. Despite innovations in science, tech, and business popping up left and right, consumers are more likely to appreciate personal touches in their relationships with businesses.

Rethink Digital Marketing

Digital marketing has become a key part of marketing efforts over the past decade or so, and with good reason. It’s generally cheaper, easier, and can be executed more quickly. Everything from a grocery store to a book-buying service makes use of digital marketing, and customers are certainly used to promotional emails sitting in their inbox.

But while digital marketing is quick, easy, and affordable, it also has a downside. Customers value personalization and authenticity above all, and marketing experts like Martin Wilkins have found that most digital marketing tactics aren’t enough to create a real, personal connection with customers. The online marketing world is saturated, and businesses may find that they aren’t getting the return on advertising that they’re likely expecting due to digital ad fatigue.

Explore Direct Mail

What can businesses do when tried-and-tested digital techniques just aren’t pulling in the same ROI? Enter direct mail. Direct mail marketing may seem like a thing of the past; after all, opening your mailbox to sift through a collection of junk mail is hardly a favorite pastime. However, marketers are finding that direct mail is back and on its way up.

PFL released a survey in 2019 that found that 83% of marketers reported good or very good ROI when direct mail was fully integrated into their marketing strategies. They also found that direct mail in a multichannel marketing mix led to an improved performance in the campaign overall, ranging from moderate to major improvements.

According to Triadex Services, direct mail marketing is a more personalized approach that provides some of the highest conversion rates around, far better than electronic mail or other digital marketing techniques. Modern customers may be expecting their email inboxes to be full of promotions from this or that company, but getting a personalized die-cut postcard instead could be a welcome surprise.

During a period where customers may be feeling more isolated than ever, businesses may be able to create lasting, personal connections with their markets through the right methods. COVID-19 could have lasting effects on the economy and on our ways of working, but businesses that are able to think ahead may just come out on top.