Finding Opportunities in Uncertain Times
We continue to closely monitor the impact of COVID-19 on the housewares industry, this is a time of unprecedented change + uncertainty. While the industry has weathered various political climate changes, market disruptors + recessions, there was a sense of some predictability along the way. With Covid-19, there is less predictability. But this storm can still be weathered.
As a digital marketing agency, we’ve helped clients rise up when challenges are presented + come through incredibly challenging situations. As consumers stay home, stores close their doors + brands struggle to adapt, your digital presence + marketing strategy is in the spotlight like never before. There are immediate changes to make + longer-term strategies to plan for. We’re here to help you with both.
Adapting to a Digital First Presence in the Short Term
Your audiences are going to react + be affected differently by this situation. If you truly understand your audience, it will help you understand which of your ideal customers are going to be the most impacted by this. Pivot your marketing to focus on those less affected. As brick + mortar stores close, what customers can you reach directly? Of those customers, which ones are going to be the most profitable for you? Use your loyal fans to your advantage.
After almost 20 years in the home + housewares market, we have yet to find a brand with an unlimited marketing budget. It’s safe to say we will never find that brand, especially in these times. When you’re looking at your marketing budget, consider shifting some resources away from brand awareness + towards your consumers that are closer to purchase. Dig in to truly understand search intent to pinpoint those customers that are actively searching for your products. Online shopping has skyrocketed over the last few weeks, while much of this can be attributed to household essentials like hand sanitizer + groceries, your consumers will begin finding their new normal + will be looking for products to help them stay comfortable at home.
Consider promotions or discounts, especially to those loyal fans. Instead of spending $20k this month on content focused on brand awareness on your site + social channels, consider having some contests or giveaways that get excess product into customers’ homes.
Don’t forget about retailers. A week ago as we helped clients navigate The Inspired Home Show cancellation we talked about shifting your marketing to get in front of retailers from a digital standpoint. There is uncertainty involving the timeline here. Is now the right time to still push buyers? While not an easy question to say yes or no to, our experience in the industry is that buyer relationships don’t happen overnight. Getting in front of the right buyers at the right time will give you a leg up as this subsides + we come through as an industry stronger in the long term. While brick + mortar stores may be on hiatus, you can bet that retailers are also planning for when this is over. Make sure you aren’t at the back of the line when that time comes.
Adapting to a Digital First Presence in the Long Term
In periods of recession/slowdown, you have the option to plan for the future. As we come through this storm + find our new normal, the world will be changed. Crisis-buying patterns will spark permanent changes in consumer behavior. The work you do now will lay the foundation for ongoing success on the other side. How can you invest in your long term success now?
- Consumer shopping behavior is changing, while crisis-buying is a short term pattern, the implications of COVID-19 will have long-term impacts on how people shop, work + live. Refining buyer personas is an ongoing process, but you can’t refine something you don’t have in the first place. Really think about your ideal audience + get your personas built now so that you can use data + trend information to update them when we get through this pandemic.
- When was the last time your site was audited for organic search visibility + success? SEO work often takes months to start generating results, but will then continue to build as search engines + site visitors react. Giving your site an overhaul now can deliver results for years to come.
- How much budget are you wasting on under-performing ad campaigns? Are you keeping up with new channels + best practices in a way that truly benefits your business goals? You can save money + generate better results in both the short + long term with truly optimized digital ad campaigns.
- Does your site have all the content a customer needs to really make an informed buying decision? Building up your content library with the blogs, landing pages, videos, infographics, product guides, etc. that you need to convert can be a huge time commitment, but will pay off in the long run. Run a content gap analysis on your site to uncover the resources + copy you need to see better results.
- Are you wasting time + resources on social channels that aren’t converting? If you have profiles that aren’t converting effectively now is a great time to reassess your goals for each channel + make moves. Your audience is not on every social channel, you don’t need to be either.
Our Commitment to the Housewares Industry Doesn’t End With Our Services
There are so many digital marketing experts + industry partners putting in long hours to help brands just like yours get through this trying time. When you’re ready to read more, we highly encourage you to check out these resources:
- Google’s Guide to Hosting Virtual Events on YouTube
- Inside Google Marketing: 5 principles guiding our media teams in the wake of the COVID-19 outbreak
- Forecasting Trends in an Uncertain World
- This Seattle Restaurant is Redesigning its Entire Business Model in Response to the Coronavirus
- Tracking Retail’s Response to the Coronavirus
- Grow with Google: Resources to Work, Teach, and Learn from Anywhere
- How to Adapt Your Company’s Digital Marketing Strategy During COVID-19
- 2020 Springboard Home Trend Compass Report
- The Rise of the Engaged Owner
As always, we’re here to help. We’ve been a remote agency for years, so our day to day has been as consistent as we could hope for throughout these past few weeks. Our team is as dedicated as ever to serving our clients + helping the housewares industry find opportunities in today’s uncertain world. Please reach out + let’s set up a time to talk as we find the next right move for your brand.