Businesses of all sizes are finding themselves in need of a hard pivot as the global COVID-19 pandemic touches absolutely every facet of life/work. No industries are immune as traditional business models have completely been upended. Those models in a matter of weeks have had to be re-architected in an attempt to stem the financial and economic fall out as the coronavirus spreads across the country.
Small businesses and entrepreneurs have been especially vulnerable. Of course, everyone is hoping for a tidal wave of pent-up demand once social distancing mandates are gradually lifted but business recovery for many might not be a reality for many months (or years) if at all.
Many companies are rising to the challenge and reinventing their brands and their service/product offerings in innovative ways to keep revenue streams flowing amidst all the change and uncertainty. Finding creative solutions to keep money coming through the door to sustain operations is paramount for many for survival.
We know a majority of small businesses do/will qualify for various loan options and that is helpful. However, sitting down and proactively mapping out a Plan B (and C) based on our current climate just makes sense for most of us right now, it’s time well spent. And that includes us here at re-tool®.
As most of you know, we are constantly re-tooling ourselves here at re-tool®, modernizing our own brand’s look, sound and feel every other year or so to keep up with consumer trends, upgraded technologies and our brand evolution. It is part of our talk when we work with clients, so we are sure to walk that talk ourselves.
Now more than ever, as we look to re-tool in the face of a marketplace landscape that is drastically being redefined, we seek to understand and share how our specialized knowledge in brand identity, positioning and content/marketing strategy can be adapted to conform to today’s immediate consumer needs.
We are receiving many inquiries about how best to revise narrative, drive messaging and generate solutions for current pain points. Over the past few weeks, those calls are coming fast and furious as if on a rinse and repeat cycle. That all said, we wanted to share some golden nuggets that have been valuable to us as we continually find our way forward and forge ahead to keep both our clients and re-tool® afloat.
Come from a place of service. What can you offer at this time for free that could serve others? It needs to have some legs meaning it shouldn’t be something that you give away complimentary on a normal basis. Consider your audience and do some market research to gauge what your demographic is looking for RIGHT NOW that you might be able to offer them. For our re-tool® followers, we have been offering our Your Business POV PDF, an 8 page template of tips around refining your brand’s mission statement and value proposition.
Lead with value. On every phone call, with every social media post and threaded through every written point of view or thought leadership piece. Use your expertise and solutions as the foundation from which every conversation is generated. What you and your brand are known for hasn’t changed, just the marketplace in which you had been selling it. Connecting the dots for your consumer is no doubt much more of a challenge but finding opportunities within the obstacle can be accomplished by ideation and adaptation.
Think small. Right now, a “go big or go home” mentality is just not what most customers can bear right now. With so much fear and reactivity, offering digestible solutions is wise. Now is not the time to throw caution to the wind. Be mindful and sensitive with your messaging right now, I think we all can agree that is what is resonating.
With so many businesses finding themselves in a similar predicament, adaptability is the new currency. We didn’t ask for this level of change. No one could have predicted the almost unbelievable effect COVID-19 has had across the business ecosystem but the consequences are happening in real time and we are all just trying to do our very best and adjust accordingly.
Let us know how you and your business/brand are weathering the pandemic because at the end of the day, we are all in this together.