Five Marketing Opportunities During Covid 19
Everywhere you look it seems like analysts are preparing us for an economic downturn due to Covid 19. Certainly almost every major event seems to be getting cancelled. On Facebook my doctor and Nurse friends are encouraging people to remain socially isolated.
But does this really spell doom and gloom for economic opportunities?
Traditionally economic downturns actually benefit some parts of the economy, liquor for example, but a downturn caused by social isolation might actually represent more opportunities than you think.
No doubt the hardest hit to date, but there does appear to be an uptick in incentivized travel. There is also an opportunity to market to those at the lowest risk threshold to take advantage of low fares.
Number 1:
Conferences
No doubt the biggest marketing expense for most enterprise companies and currently taking the hardest hits. A whole host of businesses rely on these events to fuel their revenue and they are getting cancelled across the board. But where there is adversity there is almost always opportunity.
Even before Covid 19 many marketing events have switched to smaller local events instead of big splashy national events. These smaller events are more flexible and encourage more personal connections, this may be the push to make this focus more mainstream.
In private Facebook Group I belong to focused on the business of design run by The Futur and Chris Do several members have been brainstorming on how these events and their budgets could be reallocated to virtual conferences or group Zoom meetings.
Getting sales and marketing to realign to digital engagements and virtual events could potentially create a new environment that is not only more efficient than the classic conference but perhaps even more powerful.
Number 2:
Hospitality and Travel
No doubt the hardest hit to date, but there does appear to be an uptick in incentivized travel. There is also an opportunity to market to those at the lowest risk threshold to take advantage of low fares.
Number 3:
Delivery Services
No doubt the hardest hit to date, but there does appear to be an uptick in incentivized travel. There is also an opportunity to market to those at the lowest risk threshold to take advantage of low fares.
Number 4:
Audience Reach and Touchpoints
Even if your business falls into a vertical that will be hit by a Covid 19 downturn you can take the opportunity of increased eyeballs on devices to launch a brand awareness or brand building campaign so you are top of mind when things do rebound. This is the time to focus long term brand building.
Number 5:
Remote Work
If your company is looking at remote working opportunities this is a perfect time to experiment and cement processes to make the shift. Look at the ways VR, remote meetings or recorded tutorials can facilitate your workforce to work remotely.
Any company that sells services in this space will want to be all in on marketing campaigns highlighting the value and benefits of your products and services.
Conclusion
Some verticals will see clear benefits, others might have to dig a little bit deeper to find an advantage. One of my favourite aspects of strategy is turning a relative weakness into a strength. Do you have any other ideas for turning Covid 19 into a strength? Comment below or reach out and see how Angle can help your business.
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