It’s 2020, Covid-19 has disrupted the marketplace, the future is uncertain. Isn’t it time for you to “Think Differently!”
These type of events require you to “Think Differently”. Events like Covid-19 are offten called Black Swan Events and are not all that uncommon. 9/11, the financial crisis of 2008/09 are all time stopping moments, Black Swan Events. They are moments where our businesses and our lives literally stop…for a while. Tick, tick, tick.
Inevitably life starts up again.
History is a great teacher. it gives us perspective to look back on that moment’s effects on our lives and our businesses. There are many important lessons to learn from these times. We learn what we did wrong in not preparing for these inevitable moments. We also learn what we should and should not have done when we are in that very moment.
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“Everyone you know will say this about that”
“Everyone you know, will say to you the following words ...”I should have bought when that house was so much less money a couple of years ago!!!” They say this when house prices are soaring and going up!
Everyone says it. But what does that mean and have to do with Covid-19 and your business in late 2020?
Looking back on business during these other Black Swan Events has given us a lot of insight. I will put that information and truths in point form. It’s my thing, I “Think Differently” when I communicate in this way.
- Our Guarantee: I don’t expect you to order your promo from us, just because of this post. But I would think that after reading this post, you should want to order your marketing giveaways from us!
Point 2 onwards.
2. You Freeze: One of the main things that happens when we have these type of events is everyone freezes. Its natural to do so. However, sometimes when businesses freeze too long, the worst of outcomes happen. You go out of business.
Example from recent history: After 9/11 GW Bush had to come onto national TV to tell the American people that their most patriotic thing to do was to go shopping. The economy had stalled after the attacks and people were afraid to go to the mall in fear of another terrorist attack. Many retailers simply closed up shop due to this economic stall.
3. Common Mistakes: The MOST COMMON thing businesses do when their is an unforseen downturn in business? Slash their marketing budget.
This is the worst possible thing you can do! Seriously, its super-dumb unless you are a funiture store and you rely on what I like to term “Insta sales”. Those are event driven sales like Presidents day etc. We are not addressing those type of sale in this post.
Why is it super-dumb? Let me explain the science and facts of Thinking Differently!
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4. Think Differently about your marketing: When everyone stops their marketing because of a Black Swan Event that creates a marketing vacuum (MV). A MV is usually a short period of time when there is very little marketing competition in your particular businesses or field of endeavor.
As an example, if you are a Fitness Center and not marketing and all the other Fitness Centers are closed in your region and not marketing (aka your competiton) then none of the fitness business are creating any marketing interest.
Simply stated, because everyone is waiting for the go ahead and reopen signal, this inaction creates a MV. It also creates an enormous positive opportunity for your business, if you are brave enough!
“Fortune favors the brave!”Terence
5. We will start and open up again: As much as this seems a forever event, it is not. In my humble opinion, we will start up again and it will likely be sooner rather than later. If I were a betting man (and I am) I would say that come early in 2021 we will have a vaccine announced and a plan to get back to “normal”. The full reopening of America will likely start to take place in February or March of 2021.
As it is now mid-September of 2020. This leaves you 6 months where you will have almost no competition for your marketing message and brand identity. If you are (as our example) a Fitness Center, you already know the following….your clientele is fickle.
People change gyms all the time and for the least plausible reasons. Their friend goes there, the machines are newer, the change rooms are bigger, they have a juice bar, better parking. Just about any small thing can sway people to abandon a membership at one gym and move to another.
6. This is the opportunity!: During this lull in business, if you are brave enough to market yourself, you will reap great rewards (ie “fortune favors the brave”). Think of it this way.
You have a whole region of fitness enthusiasts )aka your customers and prospects) who do not have a gym to go to. They are anxious and can’t wait to get back to the gym. Their previous gym membership is probably no longer valid as they have likely cancelled their payments. Right now, these people are weighing their options and making decisons as to which gym they will go to when they open up. If this isn’t a massive opportunity then I don’t know what one is!
7. How to capitalize on this opportunity: You need to start marketing, capture the attention of all these uncommitted potential customers. But what should you market and how should you market? This is the trick!
8. What should you market?: This part is simple, you market your brand and what it is and does. If you are a Fitness Center, you get your logo and basic message in front of peoples eyeballs. You don’t need to say anything about Covid-19 or that you have the cleanest machines etc. All you really need to accomplish is to make certain these uncommitted customers (aka prospects) know who you are.
This simple marketing initiative will accomplish most of what you want. You want those customers to choose your gym over the competiton. It is important that your branding message does not sound desperate. In uncertain time like Covid-19 you want to appear rock solid. You don’t need to offer ridiculous discounts, limited time offers or any other such trickery. You simply need to put your brand and indentity in front of them.
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“It takes 7 impressions to make an impression”
9. It takes 7 impressions to make an impression: There is an adage in marketing that says “it takes at least 7 impressions to make an impression”, to make your brand stick in a consumers mind.
Have you ever wondered why you see the same ad on TV 30 seconds after you saw it the first time. Did they make a mistake? Did they get a special deal? NO! Advertisers know that to get their message to “stick” they need to paly the ad repeatedly. You need to do the same thing, just on a micro scale.
Consider our Fitness Center example. What they want to do is to get their logo in front of the same person a multiple number of times. This is called imprinting or impressions. In the promotional product marketing field there are a number of excellent products that achieve just this, and for very little cost.
10. Consider the POP Phone Socket: The POP Phone Socket is a collapsible phone grip and stand popularized by brands such as PopSocket and others. This handy little gizmo is not only an effective phone accessory but it is seen 87 times a day by its user! That’s right, its no typo.
The AVERAGE smartphone owner uses their phone a whopping 87 times a day. If you were to put your Fitness Center logo on a Pop Phone Socket and give them away to 1000 potential customers, these customers would see your logo a staggering 87 times a day.
Not only would they see it, but their friends and family and the people in their vicinity will see it. That adds up to 87000 impression each and every single day.
1000 Pop Phone Sockets with cost you $1.49 each or in total 1000 will cost $1490 including free shipping. That means that for each of those 87000 DAILY IMPRESSIONS will cost you less than .0001 cents. That is mind-blowing!
11. Invest wisely or as I like like to say “Think Differently”: If you wait to start marketing your Fitness Center until everyone else is marketing you will pay more money. It’s simple math.
Firstly, if your competiton is marketing to announce their reopening you will have to one-up them and spend more if you expect to have better results than theirs. You might have to offer discounts and spend more on advertising. Why would you do this? Why wouldn’t you capture their minds and decison making time when they are most vulnerable? That would be NOW!
12. Does this all make sense to you? Of course it does! If it doesn’t ,you are brain dead. Seriously, I don’t want to be rude, but this kind of insight and business intelligence is gained over decades of experience and a whole lot of mistakes that we have made in order to learn this stuff. We are giving you this advice (for free I might add) because we know you’re a winner and we want you to continue to win!
How do we know you’re a winner? For no other reason than you are still reading this. Many of your competitors stopped reading this way back up the page. Perhaps they got to the first point or 2 and got distracted. Or they got the email with this article in it and deleted it. Their loss is your gain.