E-commerce Business Advice During A Pandemic – These are extremely difficult times, and making it more difficult is that these are uncharted waters full of speculation, self-appointed gurus and presumptive forecasts, leaving business owners unclear on what they should or shouldn’t be doing with their business.
At our agency, we are telling all our clients the same thing we always do: Think of your marketing in terms of short-, medium- and long-term objectives, and know where you should and shouldn’t be making changes in your marketing strategy.
While a one-size-fits-all approach never works, there are some principles and concepts any business can apply during this current public-health, or any other, crisis.
We define short-term marketing in terms of one to three months, and this is where our current crisis is going to have the largest and most dramatic impact. And depending on your industry, that impact may be positive or negative, and it may be minor or major.
What’s most important is to take control of things that are easily changeable, such as social media advertising, search engine ads, video ads and other types of digital promotion that can be closely monitored and adjusted as needed.
A large restaurant we work with is now closed in most states to dine-in customers, so they are offering free delivery. We made sure their social media advertising and search advertising, as well as website content and information, were all quickly updated and even scaled up to help them during these difficult times.
The end result has been positive — they are actually seeing an increase in their sales and revenue as a result.
Likewise, a manufacturing business we work with has seen a sharp decline in web traffic and ad clicks. We’ve seen our cost per acquisition (CPA) increase dramatically and have subsequently recommended a temporary pause for 10-14 days until the dust starts to settle and things return at least to the new normal.
This will hurt them from a revenue standpoint in the short term, but protects them from wasting money on ads that are currently ineffective due to external forces.
An ecommerce brand we work with has seen a mixed bag; some product lines are hurting dramatically while others have remained neutral or slightly increased. In this case, we’ve scaled back or paused campaigns for the next 10-14 days, while scaling up the product lines that are still in high demand.
We also helped them roll out free shipping, and their sales have so far remained neutral during this difficult time.
We define medium-term marketing as three to nine months. While the changes will not be as dramatic as in the short term, your business may require some strategy adjustments to succeed.
We are recommending our clients evaluate what tactics they plan to use in the medium term, as well as their anticipated performance during this time period. Make sure your most critical product lines and services that will remain in demand during a brief downturn are the ones you are placing medium-term emphasis on.
This is also a good time to focus on volume at a potentially lower ROI. Continue reading