Importance of Investing in Marketing during the Coronavirus Pandemic
A lot of decisions about how we respond today are being made each hour. As leaders, we have a responsibility to our organization, our co-workers, and our community.
We are faced with these decisions and how we choose to move forward will define our ability to lead and where our organization will stand.
Often in times of such uncertainty, we reflect on historical timelines of when we faced similar challenges. Many are comparing the challenges we face today to the Great Depression of the 1930s. Our stock market has seen similar losses and unemployment is forecasted to reach record highs.
We know what will lead us to making sound decisions for the future. We know that this economic setback is done to address the health concerns for our nation, that our banking industry is strong, and that our government is working through an aggressive stimulus package.
We know that today over 250 million users are actively using social media in the US and Canada. We know that people are more invested in social media than ever before. And through their feeds, they are searching for a connection.
The decision to invest in your communications and marketing, is tough to make during an economic downturn. However, if we listen to history it is one that will set you apart.
In the late 1920s, two companies, Kellogg and Post, dominated the cereal market. At the time this was a relatively new market. Americans had not fully embraced the alternative to oatmeal and cream of wheat.
When the Great Depression hit, it was uncertain what the consumer demand would be for these cereal companies. Post did what most businesses do during such times – they reined in expenses and cut back on their advertising. However, Kellogg doubled its ad budgets and moved aggressively into radio advertising. At the time, radio was how many people connected with their local news and world affairs, much like how we connect with our community today.
Kellogg pushed their new cereal, Krispies, and by 1933 even as the economy tanked, their profits had risen by nearly 30 percent. Today Kellogg is the dominant industry leader.
We have an opportunity here to connect with our community. People are listening. You have the ability to push your brand, your company, your services and your products through digital media at a fraction of the cost of print and tv.
A shift in spending that creates a larger connection with your community will build awareness. A decrease in reach and people won’t know if you’re still open, if your products are in stock, or if staff is available to service.
OnFocus: What we are doing for our neighbors
As we move forward, we want to provide more solutions for our community. Therefore, we are posting a business service directory that will showcase the businesses that are open in our community. A free service for you and for our 100,000 monthly readers and 10,000 daily followers.
We encourage you to email us at [email protected] to share:
- Any changes to your business hours
- Your contact information
- Any other information you would like readers to know.
And for those businesses that want to grow awareness and expand their market share, our team is ready for you. Our communication and marketing services comprise copywriting, website development, social media marketing, videography, photography and more.
We can help provide important messaging and remote media options during this time, including:
- Video messaging
- Live Streaming
- Social Media Graphic Design
- Content writing (such as a press release)
Our goal is to keep our community united and thriving during this challenging time. Thank you!
As we move forward #TogetherOnFocus,