How to Grow your Business During a Global Crisis

At times of global crisis, it can seem like all you can do is to ensure your business survives. However, it is possible for your business to not only survive, but actually thrive, even in the face of huge external events of a global scale. This will depend on your company and your market, but if you take the right approach and apply the right kind of tactics, you may be able to grow your business at this time.

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Here is how you can grow your business even during a global crisis through flexible and agile marketing strategies.

  1. Use Digital Marketing

As the crisis forces people to stay at home, they are spending more time online than ever. This not only means that marketing techniques that rely on people being out and about are no longer effective, but it also opens up a wealth of opportunity when it comes to marketing your business online.

Now is the time to use digital marketing in full force: step up your social media presence and promote your business on multiple social media platforms. Use content marketing to connect with your audience in a valuable way. People will be seeking information, answers and support at this difficult time, so give them what they need through strong content. This will strengthen your relationship with your customer base and foster trust and loyalty.

  1. Make a Digital Marketing Plan

As you step up your digital marketing efforts, it is important that you do so in a structured way. This will ensure that your digital marketing is efficient and effective, allowing you to find new customers and grow your business. To do this, you need to make a formal digital marketing plan.

A comprehensive digital marketing plan should include:

  • Your marketing goals and objectives
  • The tactics that will help you to achieve those goals
  • A timeline for executing your tactics
  • Your budget for executing them
  • How you will measure whether you have reached your goals

A formal digital marketing plan will not only make sure that you stay on track, it will also help you to recognise when things change in the context of an ever-evolving crisis, allowing you to adapt and be as successful as possible even as the crisis unfolds.

  1. Broaden Your Marketing Strategy

With the eruption of a global crisis, your previous marketing tactics may not work anymore. If you were previously relying on tactics like in-store promotion, trade shows and face-to-face events, you’ll need new ways to sell your products at the moment. Having a diverse, multichannel marketing strategy is essential at any time, and if you have not already diversified your marketing, now is the time to do so.

Look for new and innovative ways to market your business and take every opportunity you can. For example, if you are delivering items to your customers, take the opportunity to promote your business with branded packaging. Custom designed packaging with your brand name and logo, but if this is not possible, clear stickers are a great alternative.

  1. Build Your Network

During this crisis, you may find that things are a bit slow. The advantage of this is that you will have more time on your hands, time that you can use for other things, such as building your network. Expanding your network and making new connections gives you more links to potential customers, which can translate into more sales and more profits.

This most likely will mean playing the long game: these leads may not pay off in the short term, but you are setting yourself up for business growth when things have calmed down. There is also an advantage in making connection at this time, when your competitors are most likely quiet: this shows that you are on of things and in control even in the context of a global crisis.

  1. Nurture Your Customer Relationships

In addition to building connections, this is also a critical time to strengthen your relationships with your existing customers. With more time available, this is an ideal opportunity to strengthen your customer base and make sure you hang on to the business you have. Additionally, your customers are likely having a tough time right now too, so they’ll appreciate you reaching out.

Make the effort to reach out to all of your current and previous customers, and check in to see how they’re going. You can also take customer surveys to ask your customers how they feel about your services, and if there is anything else you could be doing for them at this time. This not only helps to build trust; it also gives you invaluable insights that you can use to improve your business.

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