The C-word... Now I have your attention, let's talk about the Coronavirus. It's all becoming a lot more real now isn't it?
Our friends are being told to work remotely, our family members are self-isolating and every Tom, Dick, and Harry is out panic buying toilet paper and pasta. Almost certainly your industry is or will be affected by the outbreak. But, is it time to pull back the old marketing and advertising budget, or double down on the ad spend and go hell for leather and hope that neither you nor your budget weakens too much, before we come out the other end of this.
It’s a good question, I know I’m biased - I just asked the question – but still, it’s a good question.
To pull out or double down? Well, let’s think about it logically. There are a few obvious pros and cons to both options.
If you reduce your ad spend, you’ll have more cash to hand, but no-one will know about you. This will help tackle staff shortages, potential reductions in orders/footfall, or even the increasing costs of overheads as the rest of the economy tackles the same problems that you are. BUT you won’t be advertising, and that obviously (hopefully) isn’t ideal.
If you double down you might run out of cash but your message will be heard. Though you may well muscle-out-of-the-way those that are competing for your ad positions, your financial buffer or war chest will deplete quickly.
It’s all rather catch 22, you know you have to do something, right? But which one?
Well, you’re welcome. We at Black Rock Media – the social media and advertising specialists in Brighton (I have to put that in, for SEO purposes)...we’re here to help! And instead of dangling the answer in front of you, making you sign up to this, or pay for that...we’re going to give you the answer...for free, for nowt, for nothing, nichts, nada, nem, neither/neither – and therrrrrrrrre it is...the answer.
I’ll explain my working out in later on. But first, put yourself in the position of your target audience for a moment. What are you doing? Where are you? What’s for tea? Have you washed your hands?
We know that pretty soon, a lot of us will be in isolation – scary thought, but let’s just go with it – and what do we do when Netflix has run out of shows, you can’t remember your Amazon Prime password, and you’re sick of playing cards with your SO? You’ll be scrolling through social media or window shopping on ASOS right? Right. Well, that’s where your target audience will be too – don’t forget that.
What you need to do instead of deciding between pulling out or doubling down is:
- Target more specifically: tighten up those audiences and focus on smaller demographics.
- Cut experimental ads: don’t waste budget experimenting right now, you can do that more at a later date.
- Re-allocate budget: send it to the ads with the best ROI
- Google Ads v Socials: again distribute the budget where you’ll get the most bang for your buck
[if !supportLists]- [endif]Offer something good: don’t be the ‘man and a van’ dude. Advertise your offers, refundable deposits, free parking and stuff like that.
This whole thing will end, that’s for sure. And you want to make sure that by the end of this you’ll still be here, right? Your flag still flying high and you’re ready for the next battle, right?
You got this tiger! ;)
PS: It would be silly of me to not say that if you do need any help with your ads or your social media, just give us a bell – we’ll get you through this soldier!