The entire world has been affected by the COVID-19 pandemic. Many business owners have been struggling to find ways to stay afloat even as they’ve had to work from home and pause in-person sales and services.
This becomes tricky to deal with especially at a time that’s already taxing.
The key for most businesses is to find methods to offer more value to customers so that they keep coming back and stick with your company in the long run.
That seems awesome, but what’s the best way to do it? As you might guess, the answer is both simple and complicated.
The Pandemic by the Numbers
Let’s begin with some numbers that help to draw a picture of what your customers might need during this stressful time.
- Record numbers of UK people have filed for out of work or unemployment benefits, meaning that many are living with financial shortage and anxiety. U.K. jobless claims rose by 856,500 in April to reach 2.097 million, according to the Office for National Statistics (ONS)
- The Coronavirus pandemic in the UK has hit the small businesses badly, risking almost a quarter of businesses for permanent shut down.
- More than 71% of consumers have tried a new shopping behavior during the pandemic, including a shift to online and digital buying and a decrease in brand loyalty.
- The only category of spending to experience boost is things people consider to be essential – in other words, impulse buying is down.
The takeaway here is that the pandemic has made a significant impact on both consumer sentiment and consumer spending. If you want your customers to continue buying from you, you must give them a reason to do so.
Understand What Your Customers Are Feeling
One of the first things you should do is ensure your customers know that you understand what they’re feeling. Some of the most common emotions right now are:
- Fear
- Uncertainty
- Sadness
- Doubt
In the marketing world, you probably know about FUD – fear, uncertainty and doubt. In normal times, marketers usually have a tendency to try to build a sense of uncertainty or fear, such as FOMO, the fear of missing out.
But, this might not be a good idea right now when people are already experiencing those things. You shouldn’t try anything that incites their emotions. Instead, your work is to emphasize with them. People are far more likely to purchase from a company that understands them than with a company that only seems to be out to make a fortune.
Communicate Your Empathy Effectively
Understanding your customers is important, but it doesn’t matter if you’re unable to effectively communicate your empathy with them. That means emphasizing clear, compassionate communication that encourages your target audience.
What does that look like? Here are some possibilities:
- Putting a COVID-19 statement on your website and making it clear what you’re doing to keep your customers safe. Examples may include social distancing signs and procedures, regular sanitizing & cleaning, and shipping precautions.
- Starting an email campaign addressing your customers’ concerns and explaining how you can help.
- Using social media more frequently and encouraging your followers to share their thoughts and feelings with you.
The goal should be to let the customers know that you’re there to help them. If they know that, they’ll be more likely to buy from you even if they’re not buying from other businesses.
Provide Increased Value
Since consumers are for the most part spending only on essentials, it’s your job to offer as much value as possible to your customers to encourage them to buy from you. Small business owners are getting creative. Here are some of the things I’ve noticed:
- An increase in online ordering options, including expanded ordering, delivery, and payment options.
- Addition of new product and service options, including things like delivery, curbside pickup and by-appointment in-person services.
- Creation of new products and bundles designed to meet the needs of people as they quarantine and work from home.
It’s no surprise that many clothing companies, for instance, have started to manufacture and sell masks. There’s a huge need for them and a natural desire for people to get masks they like. Selling products and services that meet the immediate needs of your customers is a good way to stay relevant.
Refocus Your Marketing on Digital
Your marketing focus during the pandemic should be fine-tuned to reflect the needs and wants of your customers. For many small businesses, that means doubling down on digital spending and solutions.
Your customers may need:
- Additional online ordering and delivery options
- Additional payment options
- Increased communication on social media
- More emails offering them immediate value and solutions to their problems
You may also want to consider allowing customers to sign up for text updates in addition to email.
Revamp Your Budget
Finally, you should closely reassess your budget – both for marketing and operations – and reallocate your resources accordingly.
For example, if you have applied for and received a PPP loan to cover your payroll, you may be able to put some extra money into marketing. Search engine marketing and social media marketing are both useful right now as people hunker down at home and spend more time online.
If you’ve had to lay off employees or downsize your office, you may have money in the budget that can be repurposed. Or you may need to cut across the board. Either way, it’s a good idea to scrutinize your marketing mix and find out what’s going to work for you in the short term.
It’s also worth noting that the reallocation process should include testing. It may take some trial and error to arrive at the most effective marketing mix. It’s useful to view your budget as a fluid thing and be willing to reallocate funds as needed.
The bottom line? The COVID-19 pandemic has caused a lot of stress for small business owners, but it also represents an opportunity to realign your business with your customers’ needs. Your willingness to meet the challenges head-on can help you to solidify your brand, ensure customer loyalty, and protect your business in the long term.