Last year has changed the ball game for several businesses and impacted several marketing strategies across the board. Many businesses are unsure with respect to their marketing activities, considering the uncertainty that prevails. Undoubtedly, it is a challenge as once you are finished with formulating your strategy for 2021, you can expect another major development which will somehow impact your business. In this Blog article, we shall discuss some ways to navigate through this unchartered territory and implement a marketing strategy that works for your business.
Last year’s strategy is no longer relevant
This might come as a shock. Whilst a business may have grown accustomed to allocating the same budgets and planning similar activities to that of the previous year, to achieve the expected results, such a plan is no longer an option. In such a volatile situation, you also need to plan more short-term and less long-term. The reason for this being that a new development might render your long-term strategy ineffective, or else a competitor with a totally different approach may force you to re-visit your existing fundamentals. Familiarity with the fact that what you have been using in the past will not be the case forever is necessary. The past months have been anything but normal, which is why you need to embrace new approaches.
Consider the marketing cost savings
Although most would associate the impacts of the pandemic to be financially detrimental, there are several areas where you can save money when compared to previous years. One example would be events. In a period where people are congregating less, events are being considered as a less practical option. The same applies to travel, where online meetings seem to have replaced the need for excessive spending in this regard. Another area where costs can be saved is through recruitment marketing. Prior to the pandemic, finding the right talent was an issue and a lot had to be invested. In the current scenario, sourcing employees may serve as a lesser struggle for businesses.
Invest where you can measure
Some businesses find it difficult to cease marketing activities that they are accustomed to. In this regard, a number of businesses still plan their marketing efforts based on guesswork with very little to justify the spend and resource allocation. In a time where each penny matters, it makes sense to invest in digital channels that bring about solid and quality traffic to your business. With more people attached to their devices with 24/7 access to the internet, the shift to digital channels is an absolute must.Want to learn more about how you should invest your marketing budget in 2021? Send an email on email@example.com to discover more.