Marketing your SME post COVID
If you’re a small, lean and agile Australian B2B business, and still have your doors open, you should be congratulating yourself and your team. The fight against the economic damage of COVID-19 is far from over, but I believe the odds of remaining open are on your side. While JobKeeper has saved many businesses in the short-term, to stay successful in the medium- to long-term, you should be aligning to the ‘new normal’ – and any changes or opportunities it brings. That means recalibrating your marketing strategy now. To do that, first you need to get back to basics – rediscover your purpose, accelerate an authentic socially responsible working culture, and nurture a collaborative approach to business.
Why are you in business?
This is the question that led you to create your business in the first place, and it’s time to ask it again. What do people need from you – what problems are you solving? Since the devastating bushfires and debilitating COVID-19, everyone, everywhere, is navigating how to shift with the times – to charge onwards to the best of their ability. Your clients are undoubtedly shoring up their business and reviewing new pathways for production and distribution of products and services –and you want to be part of that conversation too. As restrictions lift across Australia, a phone call, coffee, lunch or workshop with a client will strengthen your relationship and provide insight to understand how you can continue to innovate to meet their shifting needs. This might also point you to other, similar businesses – or potential new clients. What you discover will be a driving factor in adjusting your marketing strategy moving forward.
It’s a time for authentic values
Diversity. Minimise environmental impact. Buy local. Sustainable business models. What do these actually mean? Policies and procedures pumped out by administrators to tick the boxes have been truly tested in recent times: Rio Tinto’s disregard for our First Australians and their cultural links in the Pilbara region; CrossFit founder/CEO’s insensitive comments made over the death of George Floyd; and the Queensland Government’s contract with Chinese milk suppliers over Maleny Dairies are three examples where actions have spoken louder than words – with damaging results.
To truly consider yourself a business leader, now is the time to accelerate and ingrain an authentic and socially progressive voice on corporate social responsibility into your business vision and culture. Embedding these values into a marketing strategy will draw in like-minded clients and suppliers, improve your chances of long-term relationships, enhance your brand and – best of all – leave a positive mark on the world.
Why collaboration could be an answer
Successful businesses balance spotlighting and expanding their products and services with the right timing. In times of rapid change, a sole focus on your current offering can be limiting. To solve your customers’ evolving problems, you may need to expand your view. Collaborations might be key for some small businesses to enable you to build your services, add expertise and enhance technology to meet your clients’ needs. Collaborations, alliances and partnerships should be considered in your marketing strategy to broaden your reach and enhance your reputation in the market.
Seek out the benefits from shifting consumer behaviour
You may have already taken care of business as usual… but don’t close off ‘new normal’ opportunities. Has the lockdown caused your brand story to change, even just a little bit? Has your target market shifted or expanded? Refocus your business plan including a marketing strategy recalibration – get back to basics, and take advantage of new ideas and changing opportunities. Then gather your marketing team and deliver – I'm here to help if you need someone to talk through your ideas.