Advertising during the pandemic may seem counterintuitive. Millions of employees were reported to have lost their jobs and consumer spending is at an all-time low. So why do you still have to advertise during the COVID-19 pandemic?
A study was conducted in the 1920s covering 250 firms during the “Forgotten Depression,” an 18-month recession that occurred before the infamous Great Depression.
The study observed that companies that continued to advertise and increased their ad budgets during the recession had more sales output compared to their rivals. Advertising resulted in better sales performance during a “difficult period” which allowed companies to survive the downturn and prosper post-recession.
And there’s no reason why this isn’t going to be the case today. Advertising online and in-store, especially during the coronavirus crisis, allows you to stand out from the competition.
It also allows you to create top-of-mind awareness among your target audience, which can be extremely beneficial for the company after the pandemic where consumers are eager for normalcy and consumer spending is forecast to increase.
So how should you do your advertising during a global crisis? We have collected advice from marketing experts and professionals on how to advertise online and in-store.
Here are five tips from experts on advertising in a pandemic:
1. Communicate your “impact” to your customers
During a global crisis, it’s easy to forget about others and focus on surviving. Brand loyalties will be tested. In fact, in research conducted by McKinsey, they found that 35% of consumers in the US have tried a new brand while 77% tried new shopping behaviors, bringing a shock to loyalty across brands and channels.
Your unique selling proposition (USP) is going to determine your “impact” on the lives of your customers during a rough time. But it’s not just enough that you know what your USP is, you also need to figure out the most effective way of communicating your value to your customers during the pandemic.
It’s highly suggested that 60% of your advertising budget should be spent on building your brand equity—making your brand memorable, recognizable, and superior compared to others. You can do this in-store and online, but it is important to be sensitive to the changes in consumer behavior during the crisis. More people now are more concerned about safety.
With your physical stores, you can use promotional signs, a point-of-purchase (POP) display, or a signage outdoor that will communicate the EXTRA value of your product or business to customers during the pandemic. Along the way, you also have to communicate what your brand is doing in every step to ensure consumer safety.
2. Consider strengthening your relationship with customers and establishing brand trust
Experts emphasize the importance of using empathy in marketing communications. Companies should be in “high touch” with their customers to ensure that their needs are met and their satisfaction is guaranteed. New innovative programs should be established to respond to the changes in customer preferences— the new products customers prefer and the way they want to buy them, among others.
The power of infusing empathy in your advertisements during a pandemic shouldn’t be downplayed. And the goal of advertising during this difficult time should be to establish trust among your customers.
Establishing trust is also now more important than ever. With concerns about the COVID-19 virus spreading, businesses must employ measures that make it easier for customers to trust them.
Highlight in-store practices that provide safety to visiting customers. Reliable face shields worn by your in-store employees, wall mounted air purifiers in and around your physical store, or acrylic sheets that act as barriers between visitors and employees are among the measures you can implement to build consumer confidence.
3. Identify a customer segment that is more likely to buy online
The fear of the virus transmission pushed consumers to “go digital.” Many customers have adopted digital ways of buying products they need or want. Some prefer buying online and picking up in-store (BOPIS).
So it is important for businesses to identify a customer segment that will more likely adapt to these new changes. Companies must continuously engage this type of customer. They can do this by:
- Sending out email updates (which can be automated using a CRM)
- Posting regularly on social media
- Sending important messages using SMS
- Advertising online
Companies must be digitally prepared to accommodate this segment as they can determine whether your business will survive during and post-recession.
4. Reward loyalty
Communicate to your customers that you value their trust, loyalty, and satisfaction over profitability. In an environment where loyalty is extremely hard to achieve, rewarding customer loyalty can encourage customers to spend 60% more on your brand.
Here are a few ways you can reward loyalty:
- Implement paid loyalty programs where customers pay a “participation fee” in exchange for membership benefits
- Free loyalty programs using “points” that can be exchanged for freebies or discounts
- Referral bonuses for recruiting new customers
- Partnering with other establishments that can offer freebies or discounts
5. Keep on advertising
It’s easy to get discouraged during the recession, but the cutting of ad spending won’t do you any good. Advertising during the pandemic helps establish brand recall which is important during an economic recovery. Consumers will more likely remember brands that have made an impression than those that didn’t.
We offer premium quality displays and banners that can help you communicate and advertise with your in-store customers better.
