Posts Tagged ‘reopening’

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POWERSHIFT MARKETING THIS WEEK

June 26, 2020

THIS WEEK  – Here are some marketing tips and research thoughts as COVID-19 makes a dramatic return (30,000 cases a day). As always, contact me if you have any questions or topics you would like me to cover.

FINDING YOUR PATH

Let’s open up. Let’s get back to normal. Wow, 30,000 cases a day, let’s lockdown, again. What is a business owner to do? There has never been a more important time for customer research. You can’t afford to guess about the future. You need hard data. That’s why we are developing a series of short, industry specific, surveys so you can find out what your customers are thinking about coming back to your business. Each of our “Understanding the Consumer in a COVID World” surveys are focused on a specific segment: lodging, restaurants, destination marketing organizations, etc. If you have a customer email list we can provide you with decision making data.

We plan to launch these surveys in July. IF YOU WOULD LIKE TO PARTICIPATE IN OUR FREE BETA TEST, JUST EMAIL ME NOW.

IT’S NOT GOING TO BE EASY

One of the reasons we are launching our ““Understanding the Consumer in a COVID World” study is that the marketing landscape has never been more challenging. This is readily evident looking at national TV spots. Sad piano music is out, and turning on the lights is in. Clydesdales gallop, and bars with neon “Open” signs are featured in Budweiser’s newest ad. It concludes, “Buds are back.” Of course, Texas just closed bars again. “The phase we’re in now is a phase of euphoria,” as Bud’s chief marketing officer stated. “People who are tired of being locked down see an opportunity to resume elements of normal life.” But is that still true? The unity that largely marked the early stage of the pandemic has given way to divisions around numerous issues. Janet Balis of Ernst & Young, believes that “brands need to be even more careful than at the beginning of the crisis.” And that is why being a part of our “Understanding the Consumer in a COVID World study may be one key to your survival.

GOOGLE TAKES A HIT

If you think you can resume your social media marketing, as usual, think again. Major advertisers are cutting back. That’s one reason Google’s U.S. ad revenue will decline this year. Their money-printing machine, overall ad revenue, has seen double-digit growth in its two-decade existence, except for the 2008-09 financial crisis. What’s different this time? Many consumers are cutting and shifting their use of social media. Why? That is one of the questions we are asking in our “Understanding the Consumer in a COVID World” survey.

PAYING FOR CONVENIENCE

Thousands of small businesses use the payment service Square for credit cards. That’s why this news item caught my eye. The company is now holding back up to 30% of the money they collect. Square, which is led by the Twitter chief executive Jack Dorsey, says the reserves are meant to protect consumers who may ask for refunds. Don’t believe Jack. My bet is that they are shielding their own struggling bottom line. So that begs a question. Are U.S. businesses going to join the worldwide trend of charging for credit? Having recently returned from Australia/New Zealand, if you use a credit card down under, you pay extra for it.

Why should struggling small businesses, who are being forced to use credit cards more in coronavirus protection protocol, pay banks and others (like Square) for your convenience? Will customers accept this extra charge? That is one of the questions we ask on our “Understanding the Consumer in a COVID World” survey.

Bottom Line: Knowing what your customers think about living and working in a post Covid world is critical to your long-term survival. Email me now to learn more about our survey.

Until next time, stay safe, stay healthy, stay positive.