Ask an Expert: 5 Practical Marketing Tips for Staying Profitable During the COVID-19 Pandemic
We’ve been spending a lot of time at Create & Cultivate HQ discussing how we can best show up for and support our community during this uncertain time. Community is at our core, and connecting with others through one-of-a-kind experiences is what we love to do. While the world has changed, our mission has not. We’re committed to helping women create and cultivate the career of their dreams, which is why we’re proud to announce our new Ask an Expert series. We’re hosting discussions with experts, mentors, and influencers daily at 9 am, 12 pm, and 3 pm PST on Instagram Live to cure your craving for community and bring you the expert advice you’ve come to know and love from C&C. Follow Create & Cultivate on Instagram, check out our Ask an Expert highlight reel for the latest schedule, and hit the countdown to get a reminder so you don’t miss out!
Photo: Courtesy of Laurel Mintz
It’s safe to say the COVID-19 pandemic has radically shifted how businesses both large and small need to approach their marketing strategies. With the sudden rise of the stay-at-home economy, it’s imperative that brands pivot swiftly to digital in order to stay profitable because, now more than ever, consumers are turning to social media as a source for content, comfort, and even creativity.
In fact, social media views and engagement have increased by over 30% in the last two weeks, according to Laurel Mintz, CEO and founder of the digital marketing and live events agency Elevate My Brand. We tapped the marketing pro to find out how brands can support their communities and remain profitable in these uncertain times for the latest installment of our Ask an Expert Instagram Live series.
Read on for five practical marketing tips for staying profitable and coming out of the coronavirus crisis stronger than before. If you missed the conversation, you can watch it in full here, and be sure to tune into our next Ask an Expert conversation on Instagram Live.
1. Double Down on Your Digital Spend
“A lot of businesses are scared, and they should be. Because they’re scared, they’re questioning their marketing and advertising spend. Don’t be one of those companies.
Now is the best time EVER to double down your dollars so that you can capture more market share. It may sound a bit callous, but we saw the same thing happen in 2008/2009, and the smarter companies that survived and thrived turned a challenging time into an opportunity to grow.
It will be good for you long-term and is the right thing to do to keep the economy going.”
2. Get More Social (Online)
“I don’t know about you, but I’ve canceled most of my social and business plans. This has left me feeling totally disconnected and frankly a bit lonely. That’s why now is a great time to start or increase your social media content. Act as if things are as normal as possible and talk to your community through your social channels.
More than just talking at them, start a dialogue and use these challenging times to truly engage your community in honest conversations about what you’re doing to support them and how you’re working towards business as usual. Make them feel the love even if it’s only online. (P.S. Social media views and engagement have increased by over 30% in the last two weeks, so give the people what they want where they want it.)”
3. Put Your People First
“I know this sounds like a no-brainer, but there are still a lot of companies out there that don’t have emergency protocol around this virus. Worse yet, there are a lot of employees who, if they don’t show up physically to work, don’t get paid. There’s no other way to say this than don’t be a d*&k!
Like us, I’m sure many of your employees have kids and, with the recent school shutdowns, are feeling the pressure more than ever before. We live in amazing times where a ton of work can be done remotely. When you treat your employees with respect and let them put their health and families first, they will be more loyal and committed to the work and will likely maintain productivity and service levels, and that’s good for business and morale alike.”
4. Convert, Don’t Cancel
“Brands that rely on fundraising efforts like non-profits are, rightfully, freaking out right now. Many events and galas have been canceled and the teams behind them don’t know how they’re going to raise the working capital they need to maintain their staff and support the work they’re doing in the community.
We have seen smart companies both in the for- and non-profit worlds quickly convert events and fundraising to digital. Whether it’s micro-donations through social media or crowdfunding platforms, there are tons of great digital tools, if done right and quickly, that can slow the decline of fundraising efforts.
There are also tools out there such as Zoom that can supplement the intimate connections between donors, keep meetings on track, and keep communities and communication flowing. So don’t cancel that meeting, just convert it to a Zoom and keep things moving forward as normally as possible.”
5. Content Is (Still) Critical
“Let’s be honest, with everything canceling and everyone wondering what to do next, most businesses have a lot of unexpected time on their hands right now. Look at it as an opportunity to develop quality content for your digital channels and to set yourself up for a successful future.
Use Google Docs to collectively ideate ad concepts. Use Zoom to interview employees for human-interest story vlogs. Use a project management platform to make a more robust marketing plan. We know how hard it can be for brands to devote time to building out their content calendar, so take this time to write blogs and prepare email campaigns and audit your content.
Because when you come out on the other side of this thing, we’ll all have to hit the ground running.”
About the Expert: Laurel Mintz, J.D., M.B.A. is the CEO and founder of award-winning, Los Angeles-based digital marketing agency Elevate My Brand. Laurel’s gift is connecting with people and their stories. After all, companies are made up of people, and stories are just narratives that are the foundation of great marketing. Laurel’s energy has been the driving force behind the agency’s growth since it launched in 2009. Her awards include the 2017 Patrick Soon-Shiong Innovation Award, the 2016 Goldman Sachs 10,000 Small Businesses Company award, the Los Angeles Business Journal 2016 Women In Business Award, and more.
Right now, Elevate My Brand is offering complimentary strategy sessions to any brands in need. Shoot them an email at info@elevatemybrand.com or ping them on Instagram or Facebook.