When an asteroid hits the earth, it has rippling effects. The impact is felt from miles away and the destruction could take months to repair. Similarly, COVID-19 is still influencing marketing plans and the business world as a whole long after the initial crash. Here are two innovative marketing tactics your small business can use in order to overcome challenges presented by the pandemic.
Digital Marketing
Digital marketing is using technology mediums to create buzz about your products or services. Recently, businesses have been allocating more dollars to digital marketing due to the popularity of search engines and social media platforms. According to eMarketer.com, digital ad spending now represents more than half of total media spending budgets. Communicating with potential customers through their mobile devices and computers has the potential to be less personal, but in the current environment, it is the most ideal way for building trusting and long-lasting relationships. Additionally, your business should find the right digital platform, determined by the type of products and services being sold and the target market. For example, a women’s clothing store targeting millennials may look to Facebook as over 80% of users rest between the ages of 30 and 49. Furthermore, there are other ways to form digital relationships with your customers that are stronger than your WiFi connection. By offering free help or services to your potential customers, you will be able to bond with them and drive more traffic to your website or social media accounts. Although this strategy does not generate revenue, it will build a foundation for customer loyalty that will be even more valuable in the future. Lastly, use this time to grow your small business to allow for a future of success. Utilize resources available to your business in order to improve the customer experience, create new leads, and expand to new platforms. Train employees about digital marketing tactics and be creative! Try something new by writing blogs, monthly newsletters, and initiating social media contests. Connect with as many people as possible in order to find positive results.
Influencer Marketing
A sector of digital marketing, influencer marketing involves a business working with an influencer to market its products and services. An influencer is someone who has the power to affect the purchasing decisions of others as a result of their authority, status, knowledge, or relationship with the target market. Basically, influencer marketing is extremely useful in increasing brand awareness; if you see an ad on social media where Michael Jordan is eating Cheetos, you will forever associate the two and be more inclined to purchase the cheesy snack if you are a basketball fan. Since small business owners sometimes have difficulty increasing brand awareness, an influencer provides an easily accessible platform to market their products or services. However, one must consider scale in making this strategic decision. Micro-influencers tend to only appeal to a small or niche audience. Therefore, their followers are specifically interested in the products they typically endorse. Once you find the right influencer for your brand, you will have access to countless possibilities for success. Additionally, micro-influencers are affordable and cost-efficient, since small businesses usually are more conservative with their budget. Micro-influencers are often motivated to partner with businesses for free gifts or pre-agreed product subscriptions, rather than for profit. The growing role of social media in the marketing world has created even more competition amongst small businesses. Influencer marketing, paired with strong digital marketing strategies, is key to creating buzz and increasing profits.
Now is the time to build a foundation for the future, because you never know when an asteroid will hit and cause a cosmic reaction. In order to keep up with the competition, look into ways you can use digital and influencer marketing to your advantage. For a free marketing analysis with our executive team, contact us today:
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