Environment plays a critical role in shaping the unique needs of your customers. The recent effects of COVID-19, for example, have caused people to think and behave differently. Studies show that people are spending more time online reading articles, watching videos, and browsing social media. How does your brand plan to stay relevant in the "new normal"? It's time to get to know who your customers are, and determine what drives their behavior.
This is exactly why we've found that using an inbound marketing approach is more vital than ever. Companies must find meaningful ways to attract and engage their customers, or risk losing them to a competitor.
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"HOW TO UNDERSTAND YOUR CUSTOMERS"
BE PROACTIVE, NOT REACTIVE
While any outside situation is evolving, businesses can prepare ahead of time for a long-term shift in customer values. According to a recent study by Global Web Index, 95% of consumers say they’re now spending more time on in-home media consumption activities. The study also gathered that online videos could have the greatest staying power after the outbreak ends in the U.S. among Gen Z and millennials especially. Across all demographics, Facebook has been shown to be used the most for information about the recent virus and all other global events.
SHIFT YOUR FOCUS TOWARDS
Now, consider where your ideal customers are diverting their attention to. This might be the time to shift from outdoor and print advertising, to building your digital presence or launching your first video campaign. You could start creating meaningful blog articles that resonate with your audience. Or, if your customers are reducing their spending, it might be a great time to inspire them with a great sales promotion that builds brand loyalty.
New opportunities are out there, and if your company is willing to adapt – times of great uncertainty can also serve as a powerful opportunity for your business.
Reassuring messages that reinforce an emotional connection with the brand and demonstrate empathy are vital.”
- Harvard Business Review
STAYING RELEVANT RESOURCES
Helpful videos, studies & articles
DURING AN ECONOMIC DOWNTURN, DON’T JUST SURVIVE, THRIVE
We’re here to help your business come out ahead even through uncertainty.
Some companies will thrive during a downturn, and some won't. What drives these opposite outcomes? Their outlook and approach. Countless studies identify these two factors as the driving forces behind companies' success or decline from a downturn. We've aggregated their findings into insights, tools, and resources for your consideration and application. Along the way, we're here to help if you desire. Just ask On-Target! when you need assistance.