The COVID-19 pandemic turned our worlds upside down. With people locked up in their homes, it has been a challenging time for businesses as they struggle to survive. From the biggest players in the market to the smallest commercial set-ups, every entity has been affected in one way or the other. While some had to wind up or lay off their employees, others managed to barely stay afloat. However, the worse is over, and the Australian economy is ready to make a fresh start after the slump. It is not an easy feat, but the grit and determination of business owners have laid down the path to restoration.
The dynamics of the sector have been transformed with changed consumer behaviour since the buyers are now more inclined towards emotional and functional buying. There is a need to alter the marketing approach and cater to the audience under the new normal. If you have purchased a business for sale in Australia, it is the right time to tweak the marketing strategy of the existing venture to thrive in the post-COVID-19 world. Here are a few tips that will take you on the path to success.
Customer Retention is the Key
Most marketers are aware of the fact that customer retention is cheaper than customer acquisition. It is imperative for entrepreneurs to save their precious capital and pay attention to customer relationship management. Utilise client database and email marketing to reach out to those who have bought from you in the past and may buy from you in the future. Emailing is the cheapest way to reach a wide market base in the shortest span.
To make sure that they purchase from you again, offer them incentives and discounts. You can send them discount codes and coupons and ask for referrals. Keep the channels of communication open and interact as often as you can through all the available touchpoints. With referred clients, you can find new customers through the existing ones.
2. Create Content That Instils Confidence
Understanding the pulse of the audience is extremely significant, especially after the tough times witnessed across the country. The narrative used in the communication should be able to resonate with the audience, such as using the tagline ‘stay home stay safe’ along with the feature of contactless deliveries or ‘100% hygienic food’ for takeout businesses. It is vital to gain the trust of the buyers in an unstable situation where they can be easily lured by the competitors.
Talk about the safety norms being utilised at your workplace and how you are ensuring that the employees are safe. Besides updating the buyers about the new regulations, you need to talk about all the precautions that you are taking to make the whole delivery or purchase process risk-free. It will help in brand positioning and longevity.
3. Make Use of Technology
The pandemic made sure that every business became dependent on technology. While most brick-and-mortar stores shifted trading online, the service-based businesses leveraged video conferencing to offer consultations, training, education, and even medical advice. The social distancing norms gave birth to this new type of service delivery that has been utilised by financial consultants, accountants, IT services businesses, website designers and developers, tutors, lawyers, etc.
Use digital marketing tactics to reach out to the customers who are using their smartphones all day long. They are using social media channels and online search to find products and services, compare their features and prices and read their reviews before making a purchase. So, you need to be highly visible on the internet. You can even start a virtual showroom service, wherein you take the buyers on a virtual tour of the store and help them purchase a product.
4. Online Advertising for Value for Money
Although traditional advertising through print, radio and TV is continuing, there has been a greater emphasis on choosing the online medium to attract customers. The reason is apparent it is cheaper, highly targeted, measurable and has a global reach. With so many advantages, it is logical to choose Facebook and Google Ads over TV commercials and radio spots.
The best part is that these ads can fit into the budget of small businesses with ease and help them with the promotions without exhausting the capital. With niche targeting possible on Facebook, the marketers can send messages directly to the customers. The CPM or cost per thousand impressions has come down due to the pandemic that has made it more affordable than ever before. Also, you can use retargeting to showcase your products to buyers who viewed them but left without making a purchase.
5. Website Improvement and SEO
With online shopping becoming more prevalent in the country, it has become necessary to invest time and money in renovating e-commerce websites. They must be user-friendly, have relevant content, and provide a smooth browsing experience to the buyers. The design and colour scheme as well as the copy should be in sync with the communication strategy and have the attention-grabbing ability. Selling online allows the marketer to sell 24x7 across the country and enhance customer engagement.
In addition, SEO is required to improve web traffic and generate leads. Thus, you must use the relevant keywords, high-quality content and get backlinks to gain a higher position in the search engine rankings. It boosts online visibility and enhances the position of the brand.
6. Hire Social Media Influencers
If you have not adopted this marketing strategy yet, it is time to take it up. It simply involves endorsement of your products by influencers who have a massive following on social media platforms, such as Instagram, YouTube, Snapchat, etc. It is the easiest way to create brand awareness and gain a trustworthy position in the market. Also, you will be generating a lot more sales and revenue.
It helps in precise targeting and can be aligned with the marketing strategy. The use of influencers is essential for enhancing credibility, search engine rankings and conversions. Over the years, it has become so popular that most celebrities have been roped in by big brands to endorse their products on their Instagram pages.
7. Rely on Content Marketing
Content is the king when it comes to online reputation management and marketing. It is the tool to engage, attract, retain, and persuade buyers on the digital medium. It includes videos, pictures, text posts, blogs, articles, infographics, etc. The emphasis has to be on value addition rather than marketing to generate traffic that can lead to conversions.
Content marketing aids in creating an excellent return on investment by acquiring new customers and making the existing ones purchase more. It is applicable to every stage of the marketing funnel and solidifies the promotional strategy of the business.
The trouble caused by the COVID-19 pandemic in the commercial circles was one of the biggest challenges faced by entrepreneurs. Thus, if you are purchasing a business for sale in Australia, it is vital to know about the marketing strategies that can help you survive in the new world.