Zoom Meeting- Staying Relevant and Connected With Customers During Disruption
This zoom meeting is to discuss and address small business challenges of managing through current global economy crisis.
[Trupti] : Almost 9 /10 marketers, feel that marketing campaigns to be delayed since the demand for their brand products or services is falling due to the current COVID-19 crisis situation. So is this advisable?
[Amod] : It’s an interesting one because I feel a drop in demand is basically out of fear and uncertainties rather than real problem. To tell you, we have actually increased our advertising budget by 20 percent.
[Amod] : And there’s a reason for that. But we’ll come to that later. But the real drop in demand seems to be in terms of the fear and uncertainty in the market.
[Trupti] : But in the current situation, few businesses, like deal emergency needs are the must needs like food and medicines these business are still able to sustain. But what about , yesterday one of my friend who’s has an apparel business. And he was saying that it’s almost six weeks, the lock down is continued and it is much affecting his business in the current situation and even post COVID he is having that fear. So you have anything for such businesses? Got it.
[Amod] : So I assume his is a apparel store. Yeah. Walking store, right? And therefore, the footfall has gone to nil. And even beyond lock downs there are going to be lot of restrictions being put up by the government or any public places. Right?
[Amod] : So footfall will be an issue for businesses like these. Oh, yes. I mean, it is it is kind of concerning there. But again, the point is if your business model is relevant, you do not worry. And it’s exactly what we had said in our previous videos, that if your vision is right and if your model is fundamentally very relevant, then this small period of small window where everyone is going to face a bit of a problem, has to be dealt with carefully and then beyond that, success will be there. If we are ready to take certain measures. Right? OK, so I see lot of opportunities for this business in this period. So does he have online store as well?
[Trupti] : Online store not as such, but he is listed on the online shopping portals.
[Amod] : And how’s the business from there? Is there anything happening?
[Trupti] : No. Currently not, since the delivery issues our stop for these goods.
[Amod] : So with that kind of scenario, one of the best thing would now in this part of the period should be BRAND focus on how well he can engage his audience and his customers. This becomes more important and instead of thinking of business in this phase. You should really look at BRANDING in this phase.
[Amod] : Can he come up with some new boutique wear or some new range of clothes, which he can showcase to his customers because everybody’s is online, everybody is on social media today. This is actually a good time to get into the eyes of the customers. So that’s the way you can keep people engaged.
[Amod] : He can probably connect with the customer and people and ask them what they’re looking for? What kind of services? What kind of clothes they will be looking for? Because now people are wearing the same clothes again. And people will be wanting to try new ones. So the idea will be to create that interest on what they would like to wear post lock down.
[Amod] : That would give his business ideas into what people coming up with ones, the lock downs and all those restrictions go away. So it will give his business a bit of an insight. Right now, the time to engage with his audience.
[Amod] : Rather than really focusing on the business part. He can look at engaging his audience. Another aspect to figure out is Can he create a pre-ordering model?
[Trupti] : Possible.
[Amod] : For example, he can create those the new design wear, show it to the audience and the audience can pre-book it at a lower price and they’ll be delivered later to them once the lock downs go. This could be another model that could be worked out for his business. And the idea would be to make sure that the eyeballs are there on the business. And that’s why that engagement part is going to be very, very crucial.
[Amod] : To summarize key points to remember with your marketing (for the current scenario) – Your entry point in the market is relatively easier – Ads and services will be cheaper – Increased viewership will ensure more eye-balls – Sharing new ideas with customers, exploring customer demands and changed requirements. And the best mode at this point is DIGITAL. I think if the steps have not been taken so far to digitize your brand, it’s the best time to start. If you’ve already done some digitization of your business, it’s time to expand.
[Amod] : So footfall will be an issue for businesses like these. Oh, yes. I mean, it is it is kind of concerning there. But again, the point is if your business model is relevant, you do not worry. And it’s exactly what we had said in our previous videos, that if your vision is right and if your model is fundamentally very relevant, then this small period of small window where everyone is going to face a bit of a problem, has to be dealt with carefully and then beyond that, success will be there. If we are ready to take certain measures. Right? OK, so I see lot of opportunities for this business in this period. So does he have online store as well?
[Trupti] : Online store not as such, but he is listed on the online shopping portals.
[Amod] : And how’s the business from there? Is there anything happening?
[Trupti] : No. Currently not, since the delivery issues our stop for these goods.
[Amod] : So with that kind of scenario, one of the best thing would now in this part of the period should be BRAND focus on how well he can engage his audience and his customers. This becomes more important and instead of thinking of business in this phase. You should really look at BRANDING in this phase.
[Amod] : Can he come up with some new boutique wear or some new range of clothes, which he can showcase to his customers because everybody’s is online, everybody is on social media today. This is actually a good time to get into the eyes of the customers. So that’s the way you can keep people engaged.
[Amod] : He can probably connect with the customer and people and ask them what they’re looking for? What kind of services? What kind of clothes they will be looking for? Because now people are wearing the same clothes again. And people will be wanting to try new ones. So the idea will be to create that interest on what they would like to wear post lock down.
[Amod] : That would give his business ideas into what people coming up with ones, the lock downs and all those restrictions go away. So it will give his business a bit of an insight. Right now, the time to engage with his audience.
[Amod] : Rather than really focusing on the business part. He can look at engaging his audience. Another aspect to figure out is Can he create a pre-ordering model?
[Trupti] : Possible.
[Amod] : For example, he can create those the new design wear, show it to the audience and the audience can pre-book it at a lower price and they’ll be delivered later to them once the lock downs go. This could be another model that could be worked out for his business. And the idea would be to make sure that the eyeballs are there on the business. And that’s why that engagement part is going to be very, very crucial.
[Amod] : To summarize key points to remember with your marketing (for the current scenario) – Your entry point in the market is relatively easier – Ads and services will be cheaper – Increased viewership will ensure more eye-balls – Sharing new ideas with customers, exploring customer demands and changed requirements. And the best mode at this point is DIGITAL. I think if the steps have not been taken so far to digitize your brand, it’s the best time to start. If you’ve already done some digitization of your business, it’s time to expand.
