Will your clients stop their business marketing due to Corona virus? How to combat this!
History is a great teacher. If you look back at past situations that are similar to the current situation you will get a tremendous amount of insight into what you, as a marketer, should and should not be doing when it comes to looking after your clients most important asset (next to their family) that is their business.
Lets talk facts first.
The Corona virus itself, may be new strain of flu. But it is a flu virus just the same. Did you know that the regular flu kills over 350,00 – 600,000 people and infects up to 7 million world wide each year. Most of those who die are elderly or with a pre-existing condition. Read the CDC facts
As of the writing of this article there are 98,000 corona virus cases, 3300 deaths with 89% of these cases in China. See the latest stats here.
Currently as of March 5th in Shenzhen China (here are a few pictures from one of our factory partners) It is business as usual with the exception that the government has volunteers checking people for elevated temperature. The flu and corona virus cause a fever, whereas a cold does not.
Wuhan is in east central China and is a city of about 5 million. It is shut down until all cases are gone, expected date of reopening, end of March. Other than Wuhan, every other city in China (population 1.5 billion) is getting back to normal.
Corona virus in the Western countries.
Simply put, it is here, there and everywhere. Our world is interconnected in ways unimaginable 30, 40 even 20 years ago. The virus (very, very similar to the regular flu) needs to be treated with care. Simply put,those with pre-existing conditions and the elderly are at risk, but those with reasonable health will feel crappy and get better. Remember this fact. Each year 5 million people get the FLU, this is very very similar.
This statistic should tell you how little we really care and how little we feel we need to worry!
The regular flu, which affects 5 million or more world-wide and kills up to 60,000 in the USA each year has an annual vaccine to prevent the flu. However, 43% of all Americans Do Not Get Vaccinated. see link.
Are you a Kitten or a Tiger?
All of this background aside it is important to note that these type of situations are peppered throughout our recent history. It is an event that captures everyone’s attention for a relatively short time and for a wide variety of reasons changes everyone’s and every businesses business strategies. Not all changes to our behavior are in our own best interests.
The most recent event one that comes to mind is 9/11. The event itself was horrific but one of the outcomes of the event, which the terrorists had actually accounted for, was that the American economy would grind to a halt because we were afraid (which is why its called terrorism btw).
People in America did not go to malls, out for dinner or conventions in fear of Al-Qaeda. In fact many businesses withdrew their advertising initiatives as they were afraid and in short we collectively stopped doing what we had been doing that had made us successful.
This is a very human response but when you look at it closely it is a response that is bad for your clients business and ultimately bad for you and your family.
Every downturn or problem is just an opportunity to take advantage of. Kitten or Tiger?
It may sound a little harsh to say this but let’s take a closer look at the situation in real terms and see how we can protect business and benefit.
Know this, when the stock market falls and there is a huge sell-off, the ones selling stocks are the lambs being lead to the slaughter.
The larger, smarter buyers and savvy investors are waiting for these occurrences to happen so they can swoop in and buy the stocks. The stocks that a month ago were trading at $20 and that are now for sale at $10.
These savvy investors know that if the stock had value at $20 last month and is now for sale at $10, the chances are very good that it will soon be back at $20. History has proven this to be the case.
The exact same principal applies to business marketing at times like these.
During 9/11 many small and mid-sized businesses cut their marketing and advertising budgets drastically. Their “logic” was that since people were not spending like they were before Sept. 11th, that advertising was a poor investment. The companies that did this made a fatal mistake. Read why.
Now’s the time to market like a Madman. There are huge upsides right now to cut through the clutter.
Let’s face it, everyone of your clients are not going to take this advice to heart. There will be those that cut back marketing and as a result fade in their target clients minds.
“The business of promotional product marketing is getting your logo in front of clients and prospects! When there is less competition for eyeballs there is greater impact!“
However, those companies and clients of yours that market harder at these times can take advantage of an opportunity that does not come around often. They have less advertising competition and as such their message is shown or heard more often.
Marketing at these times show’s your customers you are both confident and a winner!
No one wants to associate themselves with a loser or someone who is so insecure that they do what the rest of the “sheeple” do. Especially when it comes to marketing. Marketing is for the brave!
Customer, clients and consumers LOVE to associate themselves with a winner.
Here’s an idea. In 2020 I can guarantee that more people will buy Tom Brady and the New England Patriots jerseys than say the Miami Dolphins jerseys.
It is quite simply human nature, they want to associate with a winner. Most people want to be part of a winning team. (yes I know New England did not win this year, but my point is simple, New England continues to successfully market and sell their swag).
Getting over your own fear is first and foremost! Getting back to business is your next best move.
The fear of the unknown is always, well, scary. But let’s look at this with a little more rational thought.
Like all flu’s this (Corona Virus) will vastly disappear come the end of April or early May along with the warmer weather.
Facts: The virus will not transmit with packages, overseas shipments or shipment from American factories. This is exactly like the flu as it can only transmit between humans to humans.
What you should do now!
Get on the phone, send out emails, market to YOUR clients.
If your distributor business has slowed down in the last couple of weeks NOW is the time for YOU to start marketing your own brand.
Make outbound calls, send email flyers, take clients to lunch. Take advantage of the fact that many of your competitors will shrivel up and wait.
Now is the time for marketing winners like you to take their rightful place.