MARKETING STRATEGIES TO BE FOLLOWED DURING AND POST COVID-19

With a sudden change in the world’s routine due to global pandemic, things have drastically changed and how long it will continue is still unpredictable. The closing down of transport services, educational institutes, business activities of all kinds of enterprises, tourism, etc. due to the spread of coronavirus (COVID-19) has destroyed the social and economical balance of the whole world.

In such a crisis, unemployment rate became high. Many businesses have been closed down due to lack of revenue and labour. Many of them switched to ‘work from home’ mode, but still, the loss occurred was quite high and it would be really hard to compensate and continue the regular routine for some time.

The lockdown has been lifted up in India and it is extremely necessary for the market to gain that old routine to stop closing down of businesses. Strategies should be made to help small, medium, and large scale enterprises and industries. We are forced to implement unconventional measures to recover the losses and let ourselves and others create a livelihood for the family.

Here are the 7 marketing strategies through which the financial balancing can be achieved and the reshaping of economy for a better future can be carried out.

1. Shift your conventional business method to online mode:

If in the past your business was working and conducting the required things through actual communication between buyer and seller, seller and provider, etc. then it’s time for you to make changes in your business methodology, especially if you are owning a small scale business because the large businesses have already opted for the online mode. 

As people are forced to isolation, your products or services won’t have any value if they are aimed to be sold conventionally.

For this, you can use a website advertisement campaign to increase sales, with updates and follow-ups regarding your business. This will help in the growth of your business due to a new customer base.

2. Build and grow customer relationships

This is an easier way if someone is either reluctant to change or lacking resources for adaptation. It is important to have a good relationship with the existing customers in such a critical time because if you would value them, they would value you in return. This kind of importance between the two nodes of a business environment always tends to generate a fruitful outcome.

You can build trust by giving them additional services, earning less profit, asking for reviews, talking things other then the business to deepen the trust, etc.

3. Build your market while supporting a cause   

This strategy is for some specific profit-making businesses. By spreading the right message in society through your business plan, it would influence the audience in a positive way. For example, a renowned car industry starts a brand for notebook and donates the profit for the education of the poor.

For small scale industry, this may not be possible, but any social responsibility can influence the customer base. So the idea is not so bad to think something similar, however small, and build the customer base through the same.

4. Social Media – The key to all locks of marketing

This idea is the best for small scale or newly opened businesses. Social media is the strongest and cheapest platform for marketing products and services. From all brands of clothes, eatables, utensils, jewellery, etc. to the retail business of the same, social media has been the best influencer not only for the digital marketers but also for ordinary shopkeepers also.

You can do things like advertising your product, show the updates you made in your business, special offers for promoting the business, games, coupons, and many more activities which indulge customers to talk and promote in place of you.

5. Investment should be continuous but cautious too

Changing in the business environment is not something that we are unaware of. It is advised that we should have to look forward but with cautions. Sometimes it is seen that sudden decision making is followed when something uneven happens in the business. The unnecessary investment will end up giving nothing, but some lessons, but in such a critical time, we can’t afford such a lesson. So it is better to keep moving but with open eyes.

6. Give importance to mental health

The life during the lockdown, and post lockdown isn’t easy. There is fear in most of the people’s mind about the disease. Many of them were quarantined and know how it feels to go through that period of time when you felt being avoided.

As a businessman, you should know how to prioritize mental health more than just making revenue. This can be done by any level of business by sending a message to people that depicts the message of being together in the tough times.

This can be done by writing messages on packets, creating social media posts, talking to the recovered patients, pledge to support everyone while providing your services, etc. This is a brave move where you not only working socially but also making revenue somewhere in between.

7. Don’t let the thought of closing the business enter your mind

Taking steps and moving forward is something that a businessman does because that’s what his duty is. But sometimes he/she seems to lose the battle in his mind that he won’t be able to survive in the long run. 
One should avoid such thoughts because the nature of the business goes from boom to depression and returns back in the same manner. In some of the other way the nature of the business, cash flow, personnel, etc would change and that should not affect the mental state of the owner.