It’s the mid-April. You’ve probably seen tons of articles across the internet showing COVID-19 causing a global economic crisis. Goldman Sachs is expecting the highest unemployment rate since World War II, as much as 20% unemployed according to JPMorgan estimates, and a GDP decline of 11% from a year ago.
Knowing this, you’re probably hesitant to market yourself. You’re considering holding onto cash reserves, or you feel like marketing at this point is “wrong”, that you’re taking advantage of people. Those feelings, while valid, aren’t taking in a complete picture of the situation.
There’s more attention online than ever before, and it’s not going anywhere for 6 or more months. Other brands across the globe are cutting ad and marketing spends, which means advertising online or in physical locations will be cheaper than usual as demand reduces.
With the knowledge that advertising will be less expensive, and there are more eyeballs online than ever, here are three ways you can approach marketing during this period to make sure your company comes out the other side of this recession in a better position.