In 2020, life took the whole world on a detour in the form of the COVID pandemic. People faced an unfamiliar situation when they were mandated to remain indoors. The lockdowns affected everyone in one way or the other.
A consequence of lockdowns was the closure of businesses. All activity came to a stop in many offices globally, with only the essential services remaining open.
When the restrictions lifted, however, businesses found that they were in dire straits. Around 100,000 ended up going under permanently.
Companies that made it through now face an uphill battle. They must raise revenue in an economic climate that’s under either a recession or outright depression.
It is a real challenge in such situations to spread the word about your business via just advertising. You require a growth marketing agency to give you a lift.
The Growth Marketing Advantage
- The one savior of the world during the pandemic has been the internet. It is through the same that you’ll recover your business.
- A growth marketing agency will harness the power of social media and other such channels available to spread the message of your brand far and wide. This way, your business will be a part of the new normal.
Setting Things in Order
- The jolt received from the pandemic has shaken the workplace for good. Employees and administrators are figuring out how to set foot in this unfamiliar landscape.
- Many are still working from home, and many business leaders say it could become the norm going ahead. Managers of every scale are picking up the pieces but don’t know where they fit anymore.
- A guide is needed to show business the way in this new landscape, and that guide is a marketing agency focussed on growth. The agency will sort through the rubble of previous marketing plans and add their modifications wherever necessary.
- They will even create new ones, if required, to tailor the business’s marketing operations for the new economic reality. This effort will set it on the right track to face the challenges lying ahead.
Reacquire Customer Data
- With a depression underway, everyone’s spending habits have changed drastically. People are very reserved when it comes to opening their pockets.
- They are only targeting the essentials and withholding from buying anything that might seem otherwise.
- This new reality makes previously acquired customer data obsolete. Any analysis performed using that data is worthless. A marketing strategy developed on its basis will only lead the business down into the ground.
- A growth agency will help you gauge the customer’s mood towards your brand’s products/services.
- It will study how much value they hold in the minds of today’s customers. To gain a new data set for analysis and action activities for customer response and data acquisition will also be conducted.
Resetting Marketing Budgets
- It is easy to cut down on the marketing budget when the company has gone through or is going through economic turmoil.
- This move is, however, an unreasonable one. It severely diminishes the chances of your brand name getting into people’s minds at a time when their focus is on daily happenings.
- Internet usage statistics during the pandemic show that the world doubled down on its use during the pandemic. This shift makes digital marketing ever more relevant. Still, some businesses will be prone to cutting this very type of marketing’s budget share.
- A growth agency will be aware of this, and similar marketing budget mistakes businesses can make.
- Their personnel will work with the business’s management and develop an effective marketing strategy that won’t break what bank the company has remaining.
- They will help prioritize the value propositions in the marketing strategy and allocate the money accordingly.
Going Beyond Advertising
- The post-lockdown period is a trying one for businesses, but it also presents an excellent growth opportunity. Multiple businesses closing down means a dearth of competition, which could help yours gain more market share than ever before.
- The way to do this is to have a marketing strategy that goes beyond just putting out adverts.
- A growth agency can provide a comprehensive approach to your business’s marketing needs. It will not only push ads across channels and in various formats but also offer a plethora of ancillary services geared to realize your company’s growth potential.
- Some of these services include user acquisition, conversion rate optimization, growth hacking, app store optimization, creative production, etc. They will fill the gaps in your marketing efforts and give you an advantage in every aspect.
- The pandemic has not just destroyed lives but also livelihoods. A growth marketing agency can get your struggling business back on its feet by bringing in customers who will help.