What will your customers look like when lockdown is over?
So life’s taken a bit of an unexpected turn huh?
You don’t need me to tell you the world is changing right now - the streets are empty, businesses are closed and nobody knows what our economy will look like once we’re out the other side of lockdown… but no matter how things look in the next two, six, 12 months, businesses who have prepared for the post-COVID world are going to have the advantage.
When I say prepared, I don’t mean a restructured organisation or revised budgets, although of course, those things are important operationally; I mean prepared for what the changes the world is going through now will mean for our customers in the future. COVID-19 is having a huge impact on the economy but it's the change to customers that will have the biggest impact on business.
When our society has the opportunity to go back to how it was, will we? Would it even be possible? In a world where we have rediscovered our humanity by losing our society will our customers have the same motivations that they did before? Will their behaviours and values have changed in a way that impacts our relevance? And what about affordability - can customers afford to spend money the same way anymore?
Now is the time to think about whether simply turning social campaigns back on or re-starting radio or print schedules will work - the chances are that they’ll need revision to account for the changes to your audience. On top of that, your product or service offering may need to change to suit the new world too - how can you adapt to an audience that works from home regularly or patrons that have discovered the joy of cooking rather than eating out or members who have made a new habit out of walking the dog instead of going to the gym?
When we come out the other side of the lockdown businesses who have answered these questions and have their revised strategy locked and loaded will be able to adapt fastest and secure their share of what will be, in the medium term at least, a smaller pool of customers.
So what can Five by Five do to help? Depending on your specific needs we can provide research and insights, strategic planning, copywriting, above the line advertising planning and booking, digital and social content and advertising. And as always, our first conversation will be free - we’re all in the same boat and if I can help I will. If I can’t, I’ll not only tell you so, I’ll probably know someone who can.
Stay Strong and Stay Safe.