The World has turned Upside down during the Novel Coronavirus Epidemic. And while you are reading this article you would also have this is fear in mind to get into contact with this Pandemic ( a pandemic is declared when a new disease for which people do not have immunity spreads around the world beyond expectations. ) but by the grace of God you are safe and I pray for your better health during these tough times.
So last night Me and My client John were having a Skype call to discuss how can we grow forward through this tough Times. And just for better understanding, John is a Business Coach who works with leading Software Companies to help them with Marketing and Streamlining processes.
When I asked him what’s his perspective during this absolute lockdown of business and people in their self-quarantine he told this is the best time to achieve SUCCESS that you had been dreaming of from years in your business.
Here are some important points from the discussion we had,
Did you know Devvrat that most millionaires and wealth is created during a recession and times of struggle?
The reason why is because most pull back, wait things out, and become extremely conservative.
But the intelligent ones, see this as an opportunity and capitalize.
As the Harvard Business Review stated…
“Companies that were able to increase the share of voice by maintaining or increasing their advertising spending captured market share from weaker rivals. What’s more, they did it at a lower cost than when times were good. On average, increases in marketing spending during a recession have boosted financial performance throughout the year following the recession.
You’ve got two options now: pull back or push forward.
So this was something we had in the discussion, Now this left Me thinking about How can we create opportunities and How will this help Me. Taking off my diary from my bag and a pen from the shelf I started writing all the points down and here is the summary of it.
1 Consumption of Digital content will Boost :
As people will be avoiding going outside, or attending any public gathering they will be more glued to their digital devices like Smartphone, Laptops, Tablets and Television’s as well. These will increase their Screen time and they will consume more content over digital platforms.
They will be watching more Youtube Video’s, socialising moreover Facebook & Instagram, binge-watching more Netflix as well as utilising the time to learning things on a day to day basis over Udemy and other platforms.
‘Digital content and subscriptions services – saw growth of 12.4%, – The Guardian’
So here are some steps to take leverage for your success if you are an entrepreneur, a business owner or someone who is just looking forward to creating and endeavouring new opportunities over during this hard times for business.
Create more Videos focused around your niche and audiences because of the more demand in content. It’s time to focus on quantity over the quality of the content. So don’t wait for perfection over your youtube video and waiting to get the dimension correct of your IGTV ( Instagram TV ) as well as the Facebook video just make sure you are consistent with the production of your digital content.
Do more Facebook and Instagram Live over your business pages, in multiple niche-focused Facebook groups, as well as on your personal account’s.
Look for more collaboration with people in your similar niche so that you get the potential to tap into other people audience as well as followers.
Reach out to people having their Podcast or regularly doing interviews for the sole perspective of greater audience reach and exposure. What we have observed over the years once you are invited to 3-5 Podcast or Interviews you start getting more inbound request as well as exposure.
2. Start Focusing on Paid Content and Client Acquisition :
I have been personally working with Coaches and Trainers from a couple of years in designing their Marketing funnels as well as doing their social media marketing helping them get more leads and closings for their offers and consultations and what I have seen when it comes to paid marketing is Cost of lead going high every single day and decrease in the number of show up’s during webinar or followup.
But in last 3 weeks, we have seen the cost per lead going down exponentially and as I am a number’s guy I can say that the cost was decreased by 25% over the time and the showups have increased as people have slowed down from their busy lives and have time to watch out our webinar’s and funnel content.
And these figures are consistent over multiple client accounts and platforms the simplest reason is everyone is not going ”ALL IN” for their growth. Many businesses are playing in their safe zone and refraining from Advertising online. As the world of paid social media works on Bidding, there are not many bids for specific interest categories and the overall bidding cost for getting a specific conversion completion has gone down.
So in a nutshell, if you want to get more leads for your business at a less than average cost or get more webinar registration as well as showups or sell more of your E-com products than this is the right time when all social media platforms have a better reach and greater value for money by giving you more quality leads and conversion.
3. It’s time to eliminate competition in your Business :
Let’s think from the perspective of someone who is in similar business :
Investing much of his saving over hoardings of supplies for the next 3 months.
Thinking of the best precautionary measures to save himself from the virus.
Constantly watching News Channel’s that is full of negativity and claiming this as the worst time to invest money and time to grow the business.
The only thing that they are thinking about is recessions and the next market crash.
Saving every penny by decreasing Advertising and Marketing spend as well as reducing other operational costs.
Lockdown in his home by focusing least on his business.
Now at this point of time, you have to do things that are inversely proportional with your competitors
Investing much of your savings on growing your business during this critical situational. And yes hoarding of supplies as well but not for the next 3 months but the next few weeks only.
Rather than thinking much about protecting yourself from the virus just think of how your business can thrive during this time and spread out its branches.
Focus more on creating rather than consuming so shift from all negativity around you and start creating more content focused around your business objective’s and goals.
The only thing you have to think about how can you create opportunities most ethically by helping more people.
Raising your Advertising and Marketing spend because it will be the backbone of your success.
Delegating much of your task that is not growth-focused
And like John, my client has told You’ve got two options now: pull back or push forward.
We are going to help you do the latter.
NOW is the opportunity to lean forward.
NOW is the opportunity to reach a much wider portion of your population at a much cheaper cost (since all of the other businesses who are advertising in your space may be stopping).
NOW is the opportunity to be a resource to the members of your community who are scared and are looking for help that you can provide them.
On a closing note…
It’s well-documented that points of crisis tend to reveal 2 types of businesses:
those that react instinctively and pull away
and those that lean into it as an opportunity, and as a result, grow in leaps and bounds.
This is undoubtedly a crisis, but also, it’s an opportunity.
This is a moment in time when people are staying home, away from work, and as a result, they’re on social media now more than ever.
On top of that, your competitors may be slowing down and pulling back.
Which means cheaper advertising, and an opportunity to take the lead.
People in your community are looking for solutions for their health, and this is a moment for you to step up as a leader and serve those are you.
And most importantly, all your competitors are falling into that first group (a), pulling away, leaving the field wide open.
So let’s step in, together, and win big.