{"id":34099,"date":"2020-04-07T10:56:51","date_gmt":"2020-04-07T14:56:51","guid":{"rendered":"https:\/\/biznews.fiu.edu\/?p=34099"},"modified":"2020-09-14T16:04:37","modified_gmt":"2020-09-14T20:04:37","slug":"how-to-market-during-the-covid-19-crisis-and-the-recession-it-brings","status":"publish","type":"post","link":"https:\/\/biznews.fiu.edu\/2020\/04\/how-to-market-during-the-covid-19-crisis-and-the-recession-it-brings\/","title":{"rendered":"How to market during the COVID-19 crisis and the recession it brings."},"content":{"rendered":"
\"How
How to market during the covid 19 crisis and the recession it brings.<\/figcaption><\/figure>\n

Amid unprecedented fear, anxiety and uncertainty, small businesses may think it\u2019s time to pause their marketing.<\/p>\n

Not so fast.<\/p>\n

Marketing and branding experts say this is the time to strategically continue investing in marketing, yet the messaging needs to shift for the coronavirus recession we are entering.<\/p>\n

\"Dan
Dan Grech, BizHack<\/figcaption><\/figure>\n

\u201cMarketing is about meeting your customer where they are,\u201d says Dan Grech, founder of BizHack<\/a>, a Miami-based digital marketing training academy that trained more than 100 entrepreneurs last year in 12-week cohorts. But with COVID-19, \u201cpeople now have completely changed their behavior overnight,\u201d he said. \u201cYour marketing must change with it.\u201d<\/p>\n

Now is not the time for the hard sell.<\/p>\n

You need to communicate with customers in ways that are helpful to them, Grech said during a free Webinar<\/a> he offered the community. \u201cBusinesses not able to do business right now doesn\u2019t mean you should not be communicating with your target customers. Think about what they need.\u201d<\/p>\n

\u201cThings will come back, but not the way they were,\u201d said Bruce Turkel, a branding expert, speaker and author who shared more wisdom about marketing in recessionary times in a second BizHack webinar<\/a>. \u201cBusiness as usual is now business as unusual. The new normal will become the normal,\u201d Turkel added.<\/p>\n

\u201cWhat we need to do right now is to stop worrying and start planning.\u201d<\/p>\n

Recessionary Psychology<\/h3>\n

Let\u2019s start with a little knowledge of recession psychology.<\/p>\n

During the Great Recession in 2009, Harvard Business Review wrote<\/a> about marketing during a recession (coincidently, one of the authors of the HBR report was UM\u2019s Business Dean John Quelch). \u201cCompanies that put customer needs under the microscope, take a scalpel rather than a cleaver to the marketing budget, and nimbly adjust strategies, tactics, and product offerings in response to shifting demand are more likely than others to flourish both during and after a recession,\u201d the article says.<\/p>\n

Turkel referred to the research in his remarks. In recessionary times, you need to think of your customers among the four kinds of recessionary buyers: the slam-on-the-breaks consumers who do nothing; the pained but patient group who are suffering but are generally optimistic; the comfortably well off who are selectively purchasing, in a less conspicuous way; and finally the live for today group, the HBR authors found. Read more<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

Amid unprecedented fear, anxiety and uncertainty, small businesses may think it\u2019s time to pause their marketing. Not so fast. Marketing and branding experts say this is the time to strategically continue investing in marketing, yet the messaging needs to shift for the coronavirus recession we are entering. \u201cMarketing is about meeting your customer where they […]<\/p>\n","protected":false},"author":109,"featured_media":34105,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_links_to":"","_links_to_target":""},"categories":[4611,10],"tags":[4587,3121,4463,4601],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/biznews.fiu.edu\/wp-json\/wp\/v2\/posts\/34099"}],"collection":[{"href":"https:\/\/biznews.fiu.edu\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/biznews.fiu.edu\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/biznews.fiu.edu\/wp-json\/wp\/v2\/users\/109"}],"replies":[{"embeddable":true,"href":"https:\/\/biznews.fiu.edu\/wp-json\/wp\/v2\/comments?post=34099"}],"version-history":[{"count":7,"href":"https:\/\/biznews.fiu.edu\/wp-json\/wp\/v2\/posts\/34099\/revisions"}],"predecessor-version":[{"id":34117,"href":"https:\/\/biznews.fiu.edu\/wp-json\/wp\/v2\/posts\/34099\/revisions\/34117"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/biznews.fiu.edu\/wp-json\/wp\/v2\/media\/34105"}],"wp:attachment":[{"href":"https:\/\/biznews.fiu.edu\/wp-json\/wp\/v2\/media?parent=34099"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/biznews.fiu.edu\/wp-json\/wp\/v2\/categories?post=34099"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/biznews.fiu.edu\/wp-json\/wp\/v2\/tags?post=34099"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}