Navigating the coronavirus as a small business owner hasn’t been easy. If you’re ready and able to reopen, set your business up for a strong comeback. A solid reopening strategy and a cost-effective marketing plan will help your business thrive as you get back out there and in front of prospective customers. At Viamark Advertising, we know that small businesses don’t always have the capital for high-end advertising solutions. We created this guide to help you get your customers back on a limited budget.
Monitor Your Financial Standing
Staying on top of your business finances is crucial to your success. If you aren’t tracking key financial metrics, you just can’t be sure whether your business is growing or facing an imminent shutdown. Plus, good financial data will help you make informed decisions about where and how you spend your money. Do you need to cut costs? Do you have a little extra capital to spend on marketing?
One easy way to track your business finances is through regular income statements. An income statement, or profit and loss statement, will detail your expenses and revenue over a given period so you can determine exactly where you need to reduce spending and boost profits. You can use a simple profit and loss statement template to eliminate guesswork and get a better understanding of your business finances right away.
Create Safety Protocols and Keep Your Customers Informed
It’s been nearly a year since COVID-19 hit the U.S. and we now have a much better understanding of how to protect ourselves from severe illness. However, people are still scared of getting sick or passing on the infection to their vulnerable loved ones.
Many people are hesitant to shop from non-essential businesses. Make sure your customers know what you’re doing to keep them safe. Establish a mask mandate for your employees and customers, increase ventilation in your store by opening the windows and using HEPA filters, and implement a plan for regular cleaning and sanitization of high-touch surfaces. Use your advertising campaigns to get the word out about all of the changes you’re making to protect your valued customers.
Create More Value
Adding value to your business is an effective way to convert more customers with your marketing tactics without spending a lot of extra money. First, if you haven’t already, it’s high time to get your business online. Increasing convenience and improving the customer experience is one of the easiest ways to add value to your business — and what better way to do this than by making your products available online?
Another way to create value is to ask your customers what they want. Reach out to your social media followers or email list subscribers and issue a brief survey. Ask what they like and dislike about your business and encourage suggestions on ways you could do better.
Build a Brand Story
Branding is another great way to win more clients in the wake of your COVID-19 shutdown. Good storytelling and branding strategies will show your customers that you will always put people ahead of profits. Focusing on your branding will help you build deeper, more meaningful connections with your customers and create loyal shoppers who will stick with your business through thick and thin.
It’s important to use your audience insights to inform your brand storytelling strategy. Analyze your customer data to understand the wants and needs of your shoppers so you can create a brand story that resonates with them.
While you’re sure to feel a sense of relief when you can finally open your business again, navigating the uncertainties of the pandemic is bound to create some stress. Will you be able to drum up enough revenue to stay open? What if you have to weather another lockdown? Implementing a well-planned, cost-effective marketing strategy can help you deal with these concerns and set your business up for success.
If you’re looking for help conceptualizing and implementing your marketing plan, get in touch with Viamark Advertising. Send a message or call today: 877-698-4262.
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