Strategy

The One ROI Brands Tend to Forget! (in Times of a Crisis)

By May 19, 2020 No Comments
emotional_roi_during_crisis

The Emotional ROI!

Typically when you think about sales, you want to focus on your return on investment (ROI).

However, now that the world has been hit by COVID 19, the focus shifts from our normal every-day sales to the question of “what do I even do as a non-essential business?”

The answer is that you should want to change and adapt quickly- and a good way to start this is by generating an Emotional ROI.

Don’t Act Like The Money Grabber

This means that you want people to understand that you aren’t just acting as a money grabber, but rather, you’re trying to do a good thing while the time is right.

An example of this is how many retail businesses are looking at donating a percentage of their sales to COVID relief schemes.

The importance of this isn’t just about avoiding putting your own foot in your mouth by appearing insensitive, but also by ensuring that the customer feels good because now they feel as though this product is so much more valuable as it’s contributing to a bigger picture.

emotional_roi_marketing_during_covid

Find Ways to Lift Their Spirits

This way, people become more invested and loyal to your brand- and now is the perfect time to create that relationship with your consumers.

Although the pandemic is very real and changing the way people behave as consumers, we can find a way to make sure our consumers don’t feel like this is the be-all and end-all.

Another suggestion is looking at positive stories and how many people have overcome this and running it as a blog on the side of your lead page.

It’s a way of acknowledging that yes, we’re going through something that has changed life as we know it, but that doesn’t mean that the world has come to an end.

By giving people something to look forward to and getting them excited about the future, you can expect a positive response.

Right now, people like things that can get their whole families involved, whether it means getting grandma off her feet or giving the kids something to do, we realise that people are becoming less selfish in their purchases.

So you want to move away from the generic method of marketing and be more flexible with your messaging tactics.

At a time when everyone is going through the same thing, having that emotional support from a business makes people feel more comfortable in participating with your brand.

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The best part of being a small to a medium-sized business at this time is that you have the creative freedom to do that.

You could look at the different platforms you use as part of your marketing method, like emails or Facebook posts.

Using something that is more personalised also shows that you care about what your customer may or may not be going through.

Remember, there’s a fine line between promoting your company and seeming overly opportunistic.

Think about this when you’re introducing new ideas, like running giveaway or competitions.

You want to remain supportive of people’s needs and the real concerns they are having now.

Another suggestion could be to run competitions where there’s a possible cash prize available, as money is a real concern for so many families right now.

Now, this can be intimidating for many businesses because not having an ROI will affect what you can spend.

You’re becoming more cost-conscious, and budgets are diminishing, but having that emotional bond with your consumers will benefit any business in the long term, and at the end of the day, even though it may not have been your first intention, you are contributing to a great cause and contributing to the fact that all the help the world can get will ensure that this does not last forever.

In conclusion, we’re looking at shifting our tactics from being sales-driven to being compassionate about a cause and sympathetic to people’s needs.

Jandre de Beer

Author Jandre de Beer

In a nutshell... I'm an online marketing expert with an appetite for #entrepreneurship! I'm the Managing Director of Version Eight and a contributing author to Entrepreneurs Mag SA and SME.

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