As Mexican marketing executive Sergio Zyman once said, the sole purpose of marketing is to sell more to more people and at higher prices. There is simply no other reason to do marketing. Companies that make use of effective marketing strategies lead the rest in terms of sales. An endeavor turns into a brand -- nationwide and worldwide -- when their marketing masterminds come up with the best of innovative strategies to maximize the sales.
In the current times, however, employing traditional marketing strategies are less likely to deliver. With global shutdowns because of the spreading coronavirus pandemic, the economy slips with minimal productive activities and that in turn hurts people’s buying power. But even in these trying times, maximizing sales remains the top priority of any business venture and it all depends on how smartly marketing strategies are adopted to keep the ship sailing in the face of adversity.
If a company makes a great product but yet doesn’t find the sale graph’s progress encouraging, it has to change its marketing methods in some way.
One such way is by communicating directly with the customers and winning their trust. Nothing is more comforting than to have direct words in times of a crisis as like the sellers, the buyers are also feeling vulnerable at this time. As a 2019 survey of Edelman Brand Trust Report has shown, over 80 percent of buyers feel that they must be able to trust the brand to do the right thing. If the seller succeeds in making a heart-to-heart connect with the customer through empathy, support and honesty, then the customer base of a brand might not be dented even in the most critical times.
Makers need to think out creatively in terms of crisis
Some product-manufacturers will find themselves luckier than others in certain times. But that doesn’t mean those who are not having the time’s favor have to meekly surrender. This is where a creative marketing strategy comes handy. For example, a company that sells clothes at a shopping mall might find it extremely difficult to survive the times but what if it comes up with a strategy whereby people can try their favorite dresses at home before buying. Same goes with a company that otherwise sells a good amount of gift items at its store. E-commerce gift company Uncommon Goods came up with the idea of “stay inside” gifts for people staying within the confines of their houses.
Focusing on short runs is key
When times become uncertain, marketing strategists need to focus on the short run because nobody knows what’s in store in the long run. Patience and caution are also two key pillars to base the marketing campaign that looks to maximize sales. Even there can be indirect ways to keep close with the customers. It means instead of going for campaigns to boost sales directly, the strategists can for a change, focus on awareness campaigns that will keep the brand memorable in the minds of those customers who are not eager to engage in transactions in the times of crisis but will come back to the same seller once the good times are back. That way, the sellers’ marketing strategies ensure that no customer is lost easily.
Marketing strategies can also include pushing the online strategy to the maximum, especially in challenging times. Budget that would have been used in offline events can be channelized to online strategies so that the home-restricted customers never lose track of them. Even taking part in charitable work whereby customers are given special offers or extending subscriptions for some time can be considered as indirect marketing strategies that eventually address the sales aspect in the long run.