Presentation By Michael Menzies 01/04/20
Michael from Remember Creative talked to the group about strategies for what has fast become some of the most challenging business conditions on recent history.
The main focus was on the impact of the Morrison Governments stimulus package and how it has the potential to restore a great deal of confidence in the market despite the fact that many of us are stuck at home and being forced to keep our social distance.
Michael suggested that whilst hard to imagine given all the uncertainty – now may well be the time to invest in upping your online game; be it marketing, sales or customer service. Being “online ready” with systems and platforms to service your customers effectively and remotely will be vital.
Michael provided some reasons why?
In a world gripped by fear and uncertainty – the continuation of communication (marketing & promotion) even if you are not trading NOW will showcase that you are a strong reliable brand even if just perception There is that old saying “perception is everything”, lets face it no suspects the guys in the sharp suit of being a petty thief “they must be successful, right?” – Those that are continuing to advertise create a similar perception “they must be good they can afford to keep advertising”. Obviously don’t send yourself broke doing this but there are cost effective mediums (social media being one) that are great to keep your brand visible and in-market
Now is an Ideal time to improve what we call “share of voice” – how often you are seen in the market place compared to your competition. The reason for this two fold.
1. Your competitors will either contract their marketing budget OR
2. Sadly many won’t survive.
Kind of a follow on from the last point, but when you consider your business – no matter what business you are in generally the consumer is being bombarded by messages for competing products. With so many businesses pulling back on marketing you have a chance to be heard possibly over some larger more established competitors.
PAUSING NOT STOPPING
Remember the Government is putting huge amounts of money into a troubled economy, they are effectively trying to pause it and more or less guarantee it doesn’t stop. Certain industries may be more brutally impacted by ongoing restrictions (international tourism being one) but generally the billions of dollars being pumped into the system are there to keep it moving (even if slowly) – whilst not a sure bet – that investment means there will be money swirling around the economy so if you want it coming your way, remind consumers you are there.
WHAT TO DO?
Michael was clear that the answer to that is really very dependent on your business however, he suggested that for many businesses the answer may be under their noses.
If you don’t have a good quality easy to navigate online presence now or you do not have a solid engagement/retention strategy in place for your customers, this could be the moment – don’t miss it.
For More Contact Michael