7 Keys to Adapting Your Business to What’s Happening Right Now
Hi, I hope you and yours are safe and well during this COVID-19 crisis. And that this post helps you!
These are difficult times. While many people are literally risking their lives as front-line medical workers, grocery store employees, first responders and more, many others are out of work, and still others are able to continue work, but have to quickly come to terms with remote work, focusing despite increased distraction, and adapting to a quickly changing market and economy.
It’s the definition of change management. It touches on so many topics I’ve been concerned with the last few years, like safety, teamwork and leadership). And we’ve experienced many changes in our digital advertising clients who are adjusting to changing conditions.
Here are some things we see that are changing:
- EVENTS: Many live events are postponed or going virtual rather than in-person, at least until June, and possibly longer. Virtual events are a way to bring together a suddenly virtual team, get them focused and increase inspiration and productivity. They might help your employees adjust quicker.
- FOOD: Restaurants are either closing or switching to take-out and delivery. We’ve seen very good results driving carryout and delivery orders with digital ads, so that’s something to consider. Groceries are the biggest talked about essential other than medical care, and groceries need employees right now.
- CONSUMER SPENDING: People are spending money mainly on essentials. People are refinancing their mortgages. Unemployment, layoff and furloughs mean that people will be prioritizing survival, not discretionary spending. A lot of companies are offering discounts as a way to both help the economy and induce people to try something new while purse-strings are tight.
- ESSENTIAL INDUSTRIES: Essential industries that are dealing with COVID-19 are staffing and recruiting more. It’s a good time to be in food, medical, logistics, transportation, and manufacturing. These companies can help us all get through this crisis and they need more people to make it happen.
- EMPLOYMENT: There are big changes here, obviously. We’ve been helping with digital ads to driving staffing and recruiting for years, and the focus of the jobs needed has definitely shifted. Safety is a big deal for people that have to work in-person right now, and how to be efficient and effective at remote work is important to the rest.
- MARKETING & SALES: How do you market and sell during COVID-19? Should you? I have struggled with this topic myself, because it can feel especially self-centered right now to try to market or sell anything in such a dire time. However, I just go back to the basics, which are that marketing and sales are just a way to help people get what they need. In a way, they are just communication. If you are helping to make people aware of something that will help them right now, then you’re helping. The only thing you need to watch out for is advertising, marketing or selling something not so essential- I think any company can make the argument that what they offer is essential, but we need to be especially sensitive right now and make sure we are not being selfish, and don’t come off that way.
- DEMAND GENERATION: It’s a good idea to look at where demand has shifted. Trying to create demand for something not essential right now is especially tough. There are other key industries like web conferencing and entertainment that need to make sure that all their prospects have them top of mind. Companies like Zoom, Webex, and others are going to be fighting (with advertising and marketing) for a larger market right now. The same is true for channels like STAR that are offering bigger discounts than normal right now- but how many people know that? Just because you have something people want does not mean everyone knows it!
That’s just a short brief on some of the changes we’re seeing. What else are you seeing?
It’s a time for major change and adaptation. We need to stay informed and stay healthy. And we can’t neglect our psychological health at this time, either. Constant news and adaptation can be stressful and stress can lower immune resistance- so be nice to yourself and those around you!
I’m confident that we will get through this. We will adapt and create solutions. And things will get better.
Brian Carter is a popular business expert and keynote speaker with Fortune 500 clients like NBC, Microsoft and Humana as well as small businesses. He delivers motivational keynotes with practical takeaways with the comedic flair of his stand up comedy background. His agency, The Brian Carter Group, creates marketing that excites customers and increases brand visibility, sales and loyalty. Brian is a bestselling author you’ve probably seen on Bloomberg TV or in Inc, Entrepreneur, The Wall Street Journal or The New York Times. He has over 250,000 online fans and reaches over 3 million people per year.