A Few Things to Think About During the Coronavirus
So here we are...if you are like me, the pandemic means more time at work at the office (home office) but still. Thankfully, no one in my immediate circle has been directly affected by the virus BUT there are a lot of people that have been indirectly impacted. From job loss to business downturn to going crazy inside your own home (we have teenagers). Seriously, this is real, it's scary and people are afraid. I'm here to tell you it's going to be ok. Here are a few things (both business and otherwise to think about and reflect on)
1 - IT"S GOING TO BE OK!
I know it may not look like it now but it will be. If you are like me, you came through Y2K, 9/11 and 2007-2009. We though the world was ending then or it might. It didn't. As bad as the news is (DON'T get me started on the news media) don't obsess on the news. Business will come back, we will get back to work and (spoiler alert) it will be better than it was for most of us. Need proof, look at China. They are starting to lift restrictions and most economists say that they will come out on the other side of this better than before the virus.
The U.S. is somewhere between a month to two months behind China in the spread of the virus. If that's the case, most people agree that the U.S. should also see a dramatic decrease in positive COVID-19 tests sometime around May to early June.
While this is a HUGE interruption in business for most of us, the key is that it will end. When we do get back to normal in hopefully 30 to 60 days, you don’t want to look back and realize you lost market share to your competitors and are behind in the race to regain lost revenue.
2 - Cut LESS Now And You Will Be Better In The Future
I know it sounds crazy in a time where business is slowing down (or almost grinding to a halt) BUT if history has proven anything it's that businesses that stay the course in terms of marketing during times like these gain market share. Look at every economic downturn and you will see big gains from those people who saw this as a chance to get a jump on their competition that were in a reduction mode.
3 - Change Your Messaging
While watching the Today Show today, my wife actually teared up at a Wal-Mart ad (and it had nothing to do with a BOGO) They are doing a masterful job of using associates to sing Lean on Me interspersed with images of people helping each other. Maybe your location is closed. Change your creative to say Thank You to the first responders and medical professionals. Tell your current customers how thankful you are for them and that you will be back stronger than ever when this is over. Keep your name out there and make people remember you. This type of approach will pay dividends well beyond the end of the crisis.
4 - Keep In Touch On Social Media
Be honest...how much time are you spending online right now! Don't worry, everyone is too. Internet usage has been up as much as 70% during days of the lockdown. If everyone is online, are you? How's your social media game. Now is the time to be on Facebook. Have you updated your Instagram page. If not, now is a great time to start. You want your branding in front of people. Online is where the people are.
5- Prepare for the Bounceback NOW
This too will end (remember China) If you are looking to grow your business while others are hiding, now is the time to start. Remember that getting found on Google is a long term affair. SEO takes time and effort, now is the time to start getting that ready. Don't think that you can wait and be on top when this dies down. Invest a little now and you will be MUCH better off when this goes away.
Again, I know this is scary. Trust me, I know but if you make smart moves now, (including washing your hands) you will be ok.