2020 is proving to be a strange and turbulent year. The effects of the Coronavirus (COVID-19) are shaking the global economy and businesses everywhere are preparing for the worst.
A global pandemic of this scale hasn’t been seen since the Spanish Flu (Influenza) in 1918.
Whilst it’s easy to approach such uncertainty with caution, where will that leave your business once everything has settled?
Prioritise Your Time
Many companies, particularly their marketing departments, are finding themselves with extra time on their hands, mostly due to the fact that meetings, trips and events have either been cancelled or postponed.
According to data intelligence company, PredictHQ, coronavirus concerns caused a sharp 500% rise in event cancellations and postponements in February alone.
“It is important to use this time wisely and prepare for the future, whilst keeping a strong presence within your market,” advises David Lomas of M3 Media Publishing.
“It is not only vital to show your customers and prospects, that you are still going strong, but to gain an edge by staying ahead of any competitor that is slow to react”
David Lomas, M3 Media Publishing
One of the best ways to do this is to review your online and digital marketing strategies.”
Shift Your Focus
The Center for Exhibition Industry Research (CEIR) reported that on average, the majority of companies that attend B2B exhibitions allocate 40% of their total marketing spend to industry events – compared to just 8% of the budget set for ‘general online marketing’.
“While many companies rely on industry events and exhibitions for prospecting, the lockdown presents an opportunity to invest more in online marketing”
David Lomas, M3 Media Publishing
“It could even be an opportunity to experiment with new activities and platforms, to find new customers or better understand your audience.”
“The real benefit of online marketing is that it’s measurable, it’s easy to see what does and doesn’t work.”
“Such insights are invaluable to your marketing strategy,” concludes David, “and there’s no other medium or form of communication that can offer such a clear reflection of your return on investment.”
For more information on digital marketing opportunities, call M3 Media Publishing on 0161 922 8571 or visit m3publishing.co.uk.
