"Maybe 2020 is like a mullet and the back half is the party.” You may have seen this meme floating around on social media. We all hope it's true.
Things have obviously changed since the end of 2019 when we were focused on goals for the upcoming year. The 2020 vision we all planned is now a revision. As we look forward to the second half of the year, we have an opportunity to examine what has worked and how we should adapt our marketing efforts to finish as strong as possible.
Here are a few key findings to think about as we move forward with marketing goals for the rest of 2020.
Focus on customer relationships. According to AMA, customers’ focus on trusting relationships has increased almost 50% in the past decade. Relationships are so important that they remain a higher marketing priority than low prices. Customer trust relationships have taken even more precedence in marketing efforts during the past few months while the expectation for empathy and transparency has been even higher than in the past. This is important to incorporate into your marketing strategies moving forward.
Digital is the present and the future. In the past three months, online sales have increased by 43%, with many small businesses taking advantage of e-commerce. If you have wanted to spend more efforts on user-friendly and mobile-friendly interfaces, now is the time to take the plunge.
Social media is more important than ever. Now is the time to use social media to engage with customers and build brand loyalty. According to AMA, social media contributions have paid off, leading to a 24% increase in company performance (related to social media efforts) since February, the first time for such an increase since 2016. To keep this momentum going, make sure to continue with strong social media strategies.
You may have to do more with less. In order to make the most out of a smaller budget, it may be necessary to do more marketing with fewer resources and staff. This probably isn't surprising news if you are a small business owner who is already managing marketing while also running a business. The encouragement is that you can focus your efforts on the areas that will make the most impact.
Keep pivoting. We have seen a lot of companies pivot so well in the past few months, and this attribute will be beneficial moving forward. The businesses that continue to stay flexible and pivot to meet customers’ needs will be the most successful.
One thing is clear. The focus should still remain on customers. Here are a few questions to answer while examining goals:
What do your customers need?
Where are your customers spending money?
What are your customers buying?
How have you customers' preferences changed?
Is there a better way to communicate with your customers?
After determining the needs of customers, make a plan for how to adapt to them moving forward. Here are a few more questions:
Are we still providing value to our customers?
Are we addressing customer needs?
Do we still have the same competitors? What can we learn from them?
Are our marketing methods still effective? Can we still use the same tactics? Do we need to pivot?
With your answers in mind, take a look at the goals set at the beginning of the year and readjust as needed.
Mullet aficionados would argue that the back half is the best half. We don’t suggest you get a mullet, but if we all continue to adapt, we can try to make the back half of the year the best of 2020. Bring on the party!
If you need help with your marketing efforts, call The Social Bullpen today. We can help you customize a plan that will provide value, not just activity. And we won’t give you any advice on haircuts.