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The novel coronavirus 2019 has sparked an economic slide, sending governments around the world scrambling, leaving businesses on the brink of closing and putting people out of work.
The economic double whammy of the steep drop in oil prices combined with the public health crisis in Texas not to mention around the world has left experts perplexed about how deeply COVID-19 is going to impact the world economy.
While the coronavirus continues to test us all, experts suggest that marketers need to keep building their brand and thinking long term.
Tightening the reins on marketing budgets and halting spending may be understandable in terms of your survival, but it can have a crippling impact on future opportunities. It’s important for marketers to pivot their marketing strategies to make strategic adjustments in their messages and respond appropriately to coronavirus-related concerns.
With most states closing down all bars and restaurants, store closures of retail-giants like Macy’s and Apple, and more than 80% Americans under stay-at-home orders, people are glued to online—social media in particular—right now. This means businesses need to start focusing on optimizing their digital presence (websites, social media and Over The Top (OTT) presence) right away.
Hiring a digital marketing agency with experience and expertise in all these capabilities can help you reach prospects more efficiently and offer a compelling experience to your customers despite the economic concerns.
Be mindful of how your business and your brand fit into the big picture. Is your brand message empathizing with the world’s concerns?
Brands worldwide have tweaked their marketing strategies to respond to the global pandemic. For instance, Hershey changed its ad campaign that previously emphasized on handshakes and hugs. Similarly, KFC suspended its ‘finger-licking good’ campaign because of its inappropriateness during a time when health officials are spreading awareness of good hygiene practices. And, because of many states Shelter In Place orders many video conferencing companies like ZOOM are experiencing a spike in both usage and scrutiny.
While some brands have retracted their ad campaigns, others are expanding opportunities to meet consumer needs. For instance, companies in business technology, healthcare, and online learning are redefining their brand messages and content to help their consumers learn more.
In a global crisis like this one, silence can be the worst possible response. Address critical issues and provide your viewers with credible information.
Your consumers expect a proactive response from you, which includes:
Ideally, your should have a crisis communications plan in place that promptly handles employee concerns, media inquiries and customer questions. If you don’t, it’s never too late to create one complete with worse case scenarios and assigned task responsibilities. A creative advertising agency Houston by your side can help you share your message across all channels, including your blogs, emails and social media posts.
Our award-winning team at OAK Interactive can help you fine-tune your marketing efforts strategically and help your business’s pivot during both the economic crisis as well as recovery. We’re a leading full-service digital marketing firm Houston that specializes in a wide range of insightful branding services.
Get in touch with us today for more information.