Insight

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Don’t cancel, postpone

When a business suddenly finds itself in the midst of a crisis, there can be a strong desire to suddenly stop everything. From downsizing on staff to cancelling all non-essential activities and costs, the instinctive reaction to press hard on the brakes isn’t always the way to prevent a crash.

While some elements of running a successful business are more essential than others, marketing is often one of the more divisive decisions. However, in times of strife when a company’s future is under threat, effective marketing can often be one of the most essential and important activities of them all.


Events

The events industry is surely one of the hardest hit by the coronavirus lockdown. While the catastrophic impact on suppliers, venue owners and event staff is immeasurable, companies which were planning to exhibit and participate in events are also suffering.

Events are a key pillar of marketing activity for many businesses, whether exhibiting at a trade fair or sponsoring an international public event. These activities deliver brand awareness, business development opportunities, and, of course, sales, so cancelling them altogether risks falling short of multiple targets. Worse still, budgets invested in events attendance, stand design and marketing materials may be irretrievable.

For all these reasons and more, if it is possible for an event to be postponed rather than cancelled, it’s the better option for everybody involved to minimise losses.

 

Press campaigns

While the coronavirus pandemic has undoubtedly occupied a significant portion of news space and reporting time over the past few months, there is still space and appetite for other news.

The news agenda is ever changing and the media industry is accustomed to adapting and responding as necessary. This is why it is not uncommon for a press or advertising campaign to be halted and moved to a better time.

If this is not possible and the wheels are already in motion, there may be an opportunity to make last minute adaptations to a campaign, which could have brilliant results, like this from EMILY.

 

Day to day marketing

Yes there’s a global pandemic and businesses are having to adapt to stay afloat, but marketing and brand awareness are important to carry a business through a crisis to the other side.

Switching to dark mode now may result in your customers drifting to competitors, audience growth stalling, or your brand losing its market share.

There are plenty of ways to adapt marketing activity to the situation. Whether that’s acting to support those most affected by the crisis, or by introducing a new offer or initiative to engage with your customers on an emotional level.

 

Look for discounts

A crisis can often represent an opportunity. If print advertising has been on your radar, this could be the time to explore it. Many print publications have seen a drop in advertising sales, meaning there are deals to be done and bargains to be had.

This will of course depend on the publication and any existing relationships with media sales teams, but for those looking to save a few pennies there are offers and discounts around.

 

If you need any further advice on how to guide your business through a crisis, contact Red Marlin on hello@redmarlin.co.uk.

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