How to Pursue Profit in Times of Crisis (Without Being an 🤬)
In the past several weeks, COVID-19 has impacted our businesses, lifestyles, and the economy in ways we never imagined possible. Without a playbook on dealing with a global pandemic, we’re all scrambling to manage the fallout- and doing our best to survive and thrive in the process.
That last part is key. Because the financial aspect of this situation is very real. From figuring out the right messaging strategy to saving customers and accounts, marketing and sales functions are challenged to urgently respond to this double-pronged crisis.
Over the past two weeks, I’ve had many conversations with clients — good people who deeply care about their customers. The big question: “How can we market and sell right now without being perceived as crass and opportunistic?”
It’s a valid question. You yourself have probably received a few marketing emails or social posts that have made you think, “What an 🤬!” Putting promotion next to pandemic is definitely not a good look.
But the fact remains: We all have businesses to run and jobs to save. So while it may be tempting to play it safe as the “do-gooder” purpose-driven brands we are, I believe we have the opportunity to really shine by bringing that inspirational and human element back to marketing and sales. Here are a few ways to connect and profit while preserving your relationships and the integrity of your brand:
1. Don’t follow. Lead.
Following the crowd is never a great strategy. But with the constant barrage of COVID-related content landing in your inbox and social feeds, it’s easy to feel pressured into putting SOMETHING out there quickly.
Being nimble and responsive is absolutely key right now, and it might feel “safe” to do what other organizations are doing. However, the problem with following the crowd is that you end up being swallowed by it. You also end up with half-baked and half-hearted content and offers that don’t really resonate with your audience.
At this point, throwing anything against the wall to see if it will stick will not help you or your target customer. It will slither down the wall like a Wacky Wall Walker, those rubbery toys from the 80s. (Don’t ask me why — I really like those!) At best, it’s a waste of your precious time, talent and resources. At worst, it will definitely come across as weak, insincere, and opportunistic.
Whether it’s an email, webinar, live Q&A, or downloadable toolkit, make sure what you’re offering is an ideal match between your strengths and what your customer needs the most. A good example is this simple guide released by Gallup. Sure, on the surface it appears to be just another virtual working guide that everyone else is promoting right now. However, it also includes Gallup’s own data on how virtual work is projected to become the new normal in the future, along with advice that will help managers achieve long-term success.
It’s better to take the time (but not too much time) to position yourself as a leader versus just another voice in the crowd.
2. Drop business as usual and be flexible.
To meet your ideal customers where they’re at, it’s time to throw your traditional content delivery methods out the window. We’re living in moment where new information — and the reaction to it — is changing by the day. Thus, forget the traditional webinar, white paper, long sales funnels, etc. There’s no better time to use methods like Facebook Lives, weekly AMAs, short coaching calls, or quick FAQ sheets to support your customers in real time. These strategies give customers a chance to receive what they need quickly and efficiently, and also give you better insights on how to be more responsive to their needs.
3. Show you care about your customer (versus your business).
This may go without saying — but you’re only human, and the current financial pressures you face may cloud your judgement in this area. First, let’s be clear: There is no shame at all in wanting to be as profitable as possible. (That is the True Believer Brands ethos after all). You can’t help anyone succeed if you are not successful yourself. With that said, hard-core “sales-driven” messages will simply not work right now.
Consumers can sniff desperate promotion from a mile away. In anything you do, make sure your language remains focused on providing real relief for your customer. Take a look at Postmates, who recently announced an emergency waiver on fees for restaurants and stores shuttered by COVID-19. Even thought this is clearly an opportunity for Postmates to get more restaurants to join the platform, they avoided phrases like “FREE” or “For a limited time only” — terms that say, “Our business wants your business, and we want it bad!” Remember, you will indeed attract more bees with honey than vinegar right now, so focus on your customer’s survival instead of your own.
4. Dedicate “down time” to your growth strategy.
Google’s 20% Project, which asks employees to commit 20% of their time to side projects, has made it one of the most innovative companies in the world and produced game-changing products like Gmail and AdSense. Right now, it’s tempting to dedicate all of your organization’s time scrambling after leads and prospects. But consider using this slower period to hone your strategic plan and sharpen your competitive edge for when things pick up again. Again, it’s time to be a leader here. Encourage experimenting with new marketing technologies, creating tons of content, and taking training courses. This way when we emerge from this crisis, you’ll be ready to hit the ground running, stronger than ever before.
