When the pandemic hit, it felt as though the end of the world is finally here – the stock market tanked, thousands of people were laid off, those that were lucky enough to still have jobs were forced to work from home, grocery shelves emptied in minutes (toilet paper, anyone?) and almost every country in the world was reporting a staggering number of infections and deaths. Never before had the world been in such a cataclysmic combination of financial and humanitarian crisis simultaneously. It is almost 6 months down the line yet navigating B2B marketing landscape through these unprecedented times remains a daunting task.

In this blog, we’ll take you through the 3 investments you must make in order to make the best out of this challenging situation.

1. Advertising : Often when a business’s finances are strained, marketing budgets are the first to get slashed.  Although it may seem unpromising, long-term studies have proven that the best approach to economic uncertainty is to increase-not decrease the marketing spend. In fact, a recent study from the American Association of Advertising Agencies found that 43% of consumers find it reassuring to hear from brands. In addition, 56% said they like learning how brands are helping their communities during the pandemic. Only 15% said they would rather not hear from companies.
   So, the best strategy is to keep at it, the last thing you want is to be caught flat-footed and find yourself lagging when the economy opens up again.
2. Re-marketing Now may not seem like the best time for new business development, but it definitely is for educating your prospects and nurturing old relationships. It is the time to genuinely show some love to the business you already have. Those “clients” are struggling with the same business challenges as you; find out what keeps them awake at night. This pandemic is the perfect time to partner up and face these challenging times together. These relationships will strengthen and likely pay-off more than you ever expected when the market reopens.
3. Market Research & Analytics Covid-19 has influenced consumer behavior and attitudes to such an extent that any data that you have from 4 months ago, or even 4 weeks ago is now obsolete. As the pandemic unfolds, it is crucial for the marketers to be proactive in monitoring the slightest changes in buyer behaviors and purchasing needs. Not only can this bring to light break-through demand generation strategies that can put you 2 years ahead of the game, but also avoid the cost of lost opportunities. Invest in experts that offer up-to-the minute insights for the best results.

While it is important to recognize that the future is uncertain, don’t let it paralyze you. The key to navigating your way through this crisis is to be persistent, strengthen existing business relationships, understand your customers better and of course – to upgrade and prepare for the light at the end of this dark tunnel.

InfoAnalytica partners with businesses like yours for their B2B Demand Generation, Marketing Research and Analytics needs.  For more information on our services, please reach out to us on info@infoanalytica.com

Meanwhile, stay tuned for more tips and tricks to optimize your marketing strategies!