Advertising in Adversity: What B2B Companies Need to Know
The Coronavirus has brought about unprecedented changes to the business and industrial landscape in Canada. Businesses have had to adapt to the new norms of social distancing, sanitization and hygiene. In these uncertain times, companies have had to change their operating procedures right from the foundation. Be it marketing, sales, advertising, operations, front or back-office, the entire organizational chain had to adapt to a work from home and socially distant infrastructure.
Advertisers must promptly adapt to the unforeseen changes in the overall economical environment. Right from buyer behaviour, channel preferences to advertising and marketing budgets, there has been a drastic change. How can Canadian companies adapt and how can a Toronto business directory like Scott’s Directories help?
There is no foolproof blueprint to advertising during COVID-19. Companies have had to improvise their strategies on the go. There is no pattern to purchasing behaviour during a pandemic, so they must pay close attention to their customer base and its current requirements. Using an Ontario business database like Scott’s Directories can help companies find their target audience and use that to alter their strategies so as to conform to the current market situation
Focus your efforts
Companies must focus on what will create an impact. In today’s world, consumers are price-conscious and hence companies must cater to that reality. They must focus on using effective practices and methods and concentrate on those areas and markets which gives them their strongest return on investment. A price-centric environment will respond to lower prices, discounts and promotions. Using a Toronto directory like Scott’s Directories can help find those areas and targets to focus on
Long Term Planning
While dealing with a crisis, it is important to not lose sight of the long-term. While the short-term requirements are paramount and may yield results, focusing on longer term brand building must also be at the forefront. Strategies and campaigns must cater to short-term requirements but also consider long-term planning. Using an Ontario business database can create a funnel for the short-term targets and help contact longer-term prospects.
While facing levels of uncertainty as we are today, it is important to not lose hope or fall prey to the chaos. Focus on building a structured approach, keeping the customers and the economic and behavioural environment in mind. A pro-active approach is better than no approach at all. Test what works and learn from what does not. This will help create a structured approach and helps to improvise, learn and be efficient. An online business directory like Scott’s Directories can provide you with the necessary information to make informed decisions and plan that structured approach.
While there is no sure-shot approach to advertising in a crisis, it is important to create a plan keeping the current parameters in mind. If marketers have a structured approach, are willing to improvise and adapt, not lose sight of the long term and focus on what works, they will have a better chance to weather the storm.