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April 21, 2020   Enterprise, Entrepreneurs, Start-ups, Small Businesses, FinTech and Alternative Finance, Fintech International, Innovation and Resources, Stories   No comments

Are Marketers Still Needed During Covid-19?

NCFA Guest post | April 21, 2020

marketing during Covid 19 - Are Marketers Still Needed During Covid-19?As much of the world continues to abide by stay-at-home orders put in place by each government, it is having a profound effect on businesses and how they operate. Suddenly businesses are being forced to work at reduced operations, move off-site and create remote at-home offices, and approach each and every aspect of the company from a new vantage point. It can leave a business questioning what is relevant and what should fall by the wayside during Covid-19.

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One job that is getting a lot of attention is that of a marketer. Typically, marketers are working to collect customer data that can then be used to shape advertising campaigns and pricing models, secure new leads, and grow the customer base. But do each of these goals even exist in the time of Covid-19?

Let’s take a closer look at whether or not marketers are still needed during Covid-19.

What the Typical Role of a Marketing Director or Manager Would Be

In normal times, a marketing manager is someone who pays close attention to and studies the industry trends and demands for a specific group of products and/or services. This information is then used to mold the various marketing campaigns that the company would then put into play.

The problem is that these aren’t normal times, and the trends and demands that the industry is seeing now aren’t a true reflection of what really exists in the market. With so many people being forced to stay at home, their shopping patterns, shopping habits, and even the items that are in demand have completely shifted. This means that if a marketer is doing market research right now, the results won’t be a true reflection, rather it will be a snapshot of this moment.

But this brings us to the flipside of marketing during the time of Covid-19. While the information gathered may not be relevant three months, six months, or a year from now, it can help with the direction right now. It can help companies to change up their current focuses, supply chains, and marketing chains.

It’s Important that Fear isn't Exploited

One thing that marketers are coming to terms with very quickly in these times is that they cannot exploit fear. As you see more and more ads that have been tweaked for Covid-19 times, you see messages of hope, optimism, thanks, but not fear. Fear-driven messages are only going to end up hurting the company in the end and turning off customers as the world comes out of self-isolation.

Sure, it’s important to be mindful of the severity of the situation, but creating more fear, uncertainty, and even panic isn’t the message you want to create.

Accept that Business Won’t Be What It Was Right Now

Marketers also have to take the pressure off themselves and realise that despite their best efforts, and their most robust campaign goals, business just isn’t going to be what it was pre-Covid-19. It doesn’t mean there is a problem with the company or even the marketing plan; it is the climate of the world right now.

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Many companies are reporting not just a drop in sales, but even a drop in traffic on their websites, and a general disinterest in the products and services. The fact is that people are hunkered down and are worried about their immediate health, finances, and job stability - it’s hard to think past that.

There is a Chance for Companies to Shine

What this epidemic is giving to businesses is a chance to shine. This is a chance to make a difference in the community the business serves, put the needs of the people first, and really take the initiative to do some good. These are the gestures that existing customers notice and that new customers will take note of and remember your company for.

In fact, many of the largest businesses out there have quickly put their marketing teams to work, having them re-configure the entire marketing plan, scrapping all the ads and promotions that would have been applied, and starting fresh. They are addressing the issues of the world in their campaigns and working to put minds as ease, rather than create panic.

As Aston University Online points out, there are so many different avenues that graduates of marketing can take right now, so it’s important not to be scared off by Covid-19.

Staying Fluid During the Times

At the very core, it’s important for marketing professionals to be fluid above all other things. They need to take in the situation at this moment in time and adapt when and where needed.

 

NCFA Jan 2018 resize - Are Marketers Still Needed During Covid-19? The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org

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