What do most of us have on our hands right now? Time.
There’s not much upside to all this quarantine business (besides the fact that we get to work in our underwear).
- Prepare for delays. Shipping times are SLOW right now. If you own a company that uses dropshipping, let your customers know that things are taking longer than before. One month is quickly becoming the standard for deliveries for now. Remind your customers that you have their best interest in mind and are doing your best to serve them. COMMUNICATION IS KEY.
- Plan out your cash flow. Deepen your pockets by arranging any increases to your lines of credit that you can — just in case. This includes calling your credit card companies and asking for credit line increases now, while this is still fairly early in this situation. You don’t have to tap into them, but you sure want to have them. This is also a good time to increase your liquid reserves by setting aside more of your revenue for “just-in-case” money.
- Go Organic. Right now is a good time to engage all the people sitting at home with nothing to do. Internet usage is up by 32-60 percent right now. Get a good message out in front of your potential buyers. They might not be spending money right now but they sure will be when all this is over. Talk to people, bring them into your home (figuratively, of course), and get conversations going. Host Facebook live events, ask questions that get people engaged. Let’s face it, we are all a little bored right now.
- Get Better. We have all heard the saying from Abraham Lincoln about spending our spare time sharping the ax if we are about to cut down some trees, right? This is a good time to brush up on sales tactics, make those website changes you’ve been putting off, putting those packages together, listening to leadership podcasts, and of course reading up on the latest marketing strategies. You can come out of this stronger if you use your time wisely.
- Own the market. If you can afford to do it right now, take advantage of everyone else cutting back on their ad budget. You can slip ahead of the competition by spending more instead of cutting back. Now is a great time for branding ads, tell people that you care and also remind them of who you are as a company and what you can do for them.
- Offer a discount. We are all in this together. We all need to make money, but right now things are tight for almost everyone. Many people still need your product or service but are scared to spend the money on it, or maybe they just don’t have it. Not only will people appreciate you helping them out, but they will also remember you next time when things go back to normal.
- Sow Seed. I’m not talking gardens here ( though I have been getting a lot of work done on my own), I’m talking about the parable from the Bible that talks about giving. “Give and it will be given unto you”. This is the law of reciprocation. It’s a real thing and I assure you that if you have the heart of a giver, good things will happen for you and your business. Some examples in the business world, are car manufactures helping to build respirators, Logitech has launched a program for k-12 teachers to receive free webcams and headsets as they transition to virtual teaching. Audible is offering hundreds of free titles for children and students. Starbucks is giving a free tall hot or iced coffee to all health care workers through May 3 as well as police officers, firefighters, paramedics and other hospital or medical staffers. You might not be a Starbucks but get creative and think of some ways you can sow some seed. You’ll reap a harvest down the road.
- Ask For Help. You can reach out to your suppliers, vendors, debtors, etc. and ask them for help. My wife Tara and I don’t have suppliers or vendors but boy do we have debtors. All of them were more than happy to push back the due dates on our loans for a month and some of them two. Don’t be embarrassed about asking, the good thing is that EVERYONE is in a pickle right now. They will understand.
- Shields up, number one. If you’re in a business that hasn’t had to close its doors, for now, you’re gonna want to let everyone and their dog know that you’re taking all the necessary steps to ensure their safety. People are scared to go into the public, send out some emails, post it on social media, post it on your front door, “We have taken every precaution to ensure your safety, EVERYTHING IS SANITIZED!” You get the point.
- Delivery. I probably don’t have to tell you this one but I’m going to anyway. The world was already going in this direction, now is a good time for you to perfect the “we’ll come to you!” in your business. Food, goods, services, it doesn’t matter. In this internet age, people already didn’t want to spend their time shopping when they could be at home binge-watching Black Mirror or New Girl. They certainly don’t want to be out now. How can you get better at bringing your business to the people?
Are you quarantining to your fullest potential? If not, consider utilizing some of our tips above or give us a shout and we would be more than happy to help you with a marketing strategy during this strange time.
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