Even with the understanding that this pandemic crisis is temporary, and that we will get through this, uncertainty looms. There’s so much unknown, it’s dizzying.
And yet, while some of the world seemed to be unraveling in the recent weeks, other plates shifted under our feet.
Suddenly, risk serves as a catalyst.
Sometimes, Playing the Game of Chance Pays Off
“Morocco is closed.”
That was the text message my client received during one of our Zoom meetings. She looked up from her phone and blanched. All the marketing activity was focused on this product… that was now frozen.
There's no virtual solution to this supply chain problem. So, they had to take some chances.
They had to pivot to bold (if unproven) partnerships in order to provide services and avoid layoffs.
4 Reasons for Steadfast Spending
The well-known adage, “You must spend money to make money,” can seem outright offensive as many companies are facing an economic downturn in the short or long term. When approached with caution, and with strategic consciousness, taking another look at marketing spend, and aligning it with your most critical business needs, can have tremendous benefits.
Here are four timeless reasons why re-evaluating marketing support may be a worthy task:
1) Consider Clutter: While others businesses pull back on marketing, the noise level drops to a hush, clutter abates, leaving room to make your own noise.
2) Supply & Demand: Less demand, lower marketing costs.
3) Share of Mind: Don’t disappear entirely. If you back off too hard, it will be a steeper climb when you’re ready to get back in the saddle.
“We had to take some chances.”
4) Time. The ultimate (yet somehow understated) silver lining in our current situation. Time to revamp your website, produce podcasts, bulk up on post-crisis lead gen plans, test paid channels, and more.
When One Morocco Closes…
Would our client have gone down that untested, unproven path had Morocco stayed open? Or had the pandemic not thwarted other areas of business? It’s safe to say we’ll never know. But, what we learned in the process is invaluable to current and future strategic pivots, intentional or not.