Advertising Through COVID19

As I write this I am in my apartment in Barcelona, Spain. We’ve been on a country wide lock down for the last 14 days and are expecting it to continue for at  least another 10 days.

And the US just became the country with the most confirmed cases in the world.

The feds have released some 4 trillion dollars in order to try and keep the economy moving while the government just passed another 2 trillion dollar stimulus bill.

COVID19 was the perfect black swan event to rock our economy and send it plummeting down.

We’re heading into some unprecedented times.

The good news is that this will pass. People will recover. We will go back to an equilibrium.

But I predict the economic impacts of this will be long lasting.

We are going into a bull economy where people will have less spending power. 

And depending on what the ultimate outcome of all of this is the way consumers choose what to buy will be different.

What Does That Mean For The Future of Your Business

Some businesses are booming right now. 

Immune boosting supplements, at-home workout programs and other online offers are seeing huge spikes in numbers.

Some businesses are dead in the water.

Part of the future of your business has already been dictated by things outside your control (no one predicted the next economic downturn would come with a 30 day stay-at-home order).

If your business is still afloat, now is the time to be very nimble and move with your market.

We’re in a time of a lot of uncertainty. People are looking for leaders. And they are looking for new solutions.

Maybe the product or service you put together isn’t as relevant anymore. 

Maybe the way you were selling it became outdated overnight. (if you sold in-person this is absolutely you right now).

Or maybe your ad campaigns have stopped converting because they are no longer speaking to the conversation your prospects are already having in their head because that conversation has radically shifted.

That’s okay if you will react quickly and fix that sh!t now.

People are still looking for solutions. 

People still need professionals.

As long as you focus on serving your customers instead of selling your product you have a great chance of transitioning your business with the times.

Money is still changing hands every day.

Move Quickly

I’ve been very lucky to be surrounded by smart entrepreneurs during this time.

We’re all very optimistic we can make it through this together and thrive.

The conversations we are having with each other right now are:

1) Build Goodwill

Many companies are creating huge goodwill campaigns. Giving away free programs, free monthly memberships, free new front end offers.

If you have enough right now that you can give now is a great time to build up goodwill with your customers and future customers.

Lead with empathy. People remember good deeds and the world needs more people like this right now.

2) Listen To Your Customers and Prospects

Now is the best time to keep up with the conversations you’re having with your customers

If you have a sales team and a customer support team they will be on the front lines. 

What are the new questions? The new concerns? The new objections?

What are your customers looking for now they were not looking for 6 months ago?

Your marketing and how you are positioning your products over the next several months may change.

3) Create New Products & Services

Many of us have services and products that were doing great two months ago and are not going to fit after COVID.

Maybe it’s the way your service was being sold and delivered.

Or maybe what you offered just isn’t what people need right now.

Find out what your customers need and help them get it. 

As long as you are quick to react you can survive and even thrive in this new economy.

Now Is The Time

Each day is an opportunity to move quickly if your business is being affected by what’s happening and you’re still open to do something about it.

This is an opportunity to grow, to become more resilient and to make your business better.

I challenge you to do the work that needs to be done.

You’re the only one who can do it.