Over the years, research studies have confirmed that the best strategy for long-term business growth is investment in marketing expenditure during an economic slowdown. But for many of us who are constrained by budgets and current circumstances, this can be a risky or impossible strategy.
The relationship though, between share of market and share of voice (your brands exposure), is proven. The higher your share of voice (compared to your actual market share) the more likely your brand is to grow its market share in the subsequent year.
Venues should utilise all available marketing channels to retain a share of voice. Showing creativity and relevance with content will help venues to maintain a competitive position throughout this crisis and on the other side.
Here, Emma Gaymer from Bamboo Sales and Marketing Consultancy, explores 4 key considerations when planning your venue marketing strategy for a crisis:
Build Trust and Inspire Loyalty
It’s important to keep your brand top of mind for existing customers, even if they’re not looking to buy anything right away. Loyalty is key and by treating your audience well, they’ll be eager to return as soon as they can. Reassure them that you’re there for support, regardless of where they may stand in the pipeline.
Remember that your online content is your first contact with many of your potential customers. Today, buyers are 60-70% through their decision-making process before engaging a salesperson. You are showing them what it will be like to work with you.
Consistency Across Channels
In this day and age, it's not always easy to cut through the noise and communicate your brand message effectively. It is essential during times of crisis to have consistency in your brand message and tone in order to create a clear picture of your company that customers can follow.
If you are inconsistent from one channel to the next, your customers will never know what to expect from your business.
Automation can really help during this time. Mailers, social media posts, blogs etc can all be scheduled and pushed out across all platforms, to save you time and keep your messaging clear.
Staying Top Of Mind Through The Pandemic
Stopping everything will make it much harder to come back stronger when this all blows over. Marketing doesn’t have to involve huge investment – it’s time to get creative!
IF CONTENT IS KING, CONSISTENCY IS QUEEN
Think about the relevancy of the content you're producing and be smart. For example, you can talk about stories from the team, recipes from your kitchen, ideas for activities to entertain the kids, etc.
Show you are there to support your audience and offer value by adapting to the current situation. Stay in their minds so that when they are beginning their venue search once again, they think of you first.
TOP TIP: When using social media to build your network and pipeline, keep a spreadsheet of interactions, comments, likes etc and then when the time is right you have a target list of warm leads at hand.
Brush Up On Your Marketing Knowledge
Marketing is a huge subject area and there are lots of free resources online and courses to sign up to. If you are furloughed, make sure to use this time wisely and widen your skillset and fill knowledge gaps.
My recommendations for where to get the best FREE courses:
- Hubspot Academy: Learn about social media, how to write content, how to send a mailer, SEO etc
- Google Digital Garage: example courses include speaking in public, business communications, digital wellbeing, cyber security
- Facebook Blueprint – tips and best practices for advertising
Be consistent, creative and stand out from the crowd. Consistency in marketing protects the long-term future of your business and brand and helps your brand cut through the noise.
If your audience is not in a position to buy and therefore does not want to be sold to, don’t just drop off the face of the earth and ignore them. Use it as a chance to be noticed and remembered, personally and professionally.
Mix it up, show you know how to adapt and use this as a chance to strengthen your relationship with your audience.
About Bamboo Sales and Marketing Consultancy
Emma Gaymer is the Founder of Bamboo, a Hospitality and Events Sales and Marketing Consultancy.
At Bamboo, the focus is on growing top line sales and strengthening team capabilities. To achieve this, we use an integrated approach to sales and marketing which is key to stronger revenue growth, producing sustainable, impactful results.
Services range from project and interim support to long term tailored partnerships.
Contact: firstname.lastname@example.org (+44 7528 131535)
We've created a platform to keep you up-to-date with all the latest Coronavirus news, as well as the latest useful industry responses to the ongoing pandemic.