Businesses worldwide are taking a catastrophic hit during the COVID-19 hit.
As a knee jerk reaction, businesses may be inclined to drastically decrease marketing spend, reactionarily pivot their core marketing strategies, or cut out their marketing initiatives entirely. This could be a mistake.
Sticking to long-term marketing strategies that work is the key here. Research has shown that brands who not only stick to their marketing efforts but actually increase them in recessionary periods, come out on top, both during the economic downturn and the boom that follows. In addition, studies indicate that companies who lowered ad spend during a recession saw sales and income fall by 20-30% over the next two years as a result.
However, remaining consistent, and making small adaptations to long-term marketing strategy is no easy task.
We have rounded up 6 tips to continue marketing your brand during the COVID-19 crisis.