How businesses shifted in unprecedented times
Calibrate Your Brand
To adjust to take external factors into account (Oxford Language).
In the last 6 months, the country and world have seen a drastic shift in life and business. In all of the unprecedented circumstances, businesses have had to stay on their toes ready to pivot accordingly to the changing situations. Unfortunately, there have been countless businesses that have not been able to fully adjust to the wavering economy; however, the ones that have succeeded have one thing in common: calibration.
Coming out on the other side of the “stay-at-home-orders,” we have more data to understand the steps businesses took in order to calibrate their business during a world pandemic and how some of those steps will remain permanent in business.
As stay at home orders commenced, individuals shifted their consumer minds and needs. According to Yelp, “More time at home means people are looking for ways to occupy their time, which has increased the share of interest in fitness and exercise equipment, firewood, pet breeders, and television service providers (up 424%, 311%, 182%, and 52%, respectively). More consumers are also turning to tobacco shops, cannabis clinics, and vape shops (up 85%, 103%, and 103%, respectively) in these anxious times. Bridal stores and shopping centers are declining (down 63% and 70%). Cosmetic stores are up (179%) while people seek beauty regimens they can implement at home, while day spas are down (15%).”
In order for businesses to succeed, digital adaptation was pivotal.
While it seemed impossible for some businesses to continue seeing profits during the pandemic, such as in-person gyms and fitness studios, these businesses altered their consumers’ experiences and adapted to a new norm: digital. Don’t get us wrong, we know there’s a huge group of gym junkies who would do anything to get back into the gym. However, gyms and other fitness studios, such as aerobic, barre, and dance studios, figured out how to make their brand and business just as appealing online as it was in person. Although these businesses thrived off of in-person experiences, they learned how to offer their products and services in a way that allowed their customers to continue their fitness routines from the safety of their homes.
Gyms and fitness studios quickly took advantage of live video functions provided by platforms such as Zoom, Skype, Google Meets, and even Facebook and Instagram live. And while they missed seeing their customers’ smiling faces, the pandemic also provided an opportunity for these businesses to sell more of their products, as now their customers needed them at home.
A great example is F45, a global gym that has group fitness classes based on HIIT workouts. When the pandemic hit, each local gym quickly pivoted to Zoom classes, and now the international company has an app that posts a daily workout that users can use at their own convenience. The company’s calibration catered to their current customers and also opened their services to those who don’t have a local gym but are still interested in getting their sweat on.
The moral of the story is this: creativity is key. While it may not be obvious how your business can cater to the digital consumer, a little bit of creativity could spark an amazing idea to push your business to success.
Business growth in the pandemic
While the world stood by remorsefully watching beloved businesses permanently close their doors, others took the opportunity of new found time at home, from cancelled plans and even unemployment, to dive into new business endeavors right from the comfort of their couch. As conferences turned into webinars, the accessibility of online learning skyrocketed. Universities across the country offered free or discounted online courses that helped people continue their education while staying safe at home.
With time on their hands and an endless library at the tip of their fingers, many people took time to pursue dreams or new endeavors in the business world. From sticker businesses to digital marketing companies, start-ups ignited even in the midst of a pandemic. (We would know).
In addition to digital adaptation, we saw businesses, new and existing, extend their compassion to their fellow business owners and entrepreneurs. From a world-wide shutdown to a global spotlight on social and racial injustice, companies used their businesses platforms to promote compassion, community, unity, education, and anti-racism. While face-to-face interactions were limited, the digital community erupted in action and solidarity for the injustices seen across the nation. Because humanity is so challenging to find when we all face our screens day in and day out, sharing your compassion as a business is a must. There are people on the other end of your digital communications who are longing for a connection. Sharing values, equality initiatives, and just plain kindness speak volumes to consumers during this time.
How digital marketing changed the game
In all of this chaos, and with a major need to still reach consumers from a distance, digital marketing became more important than ever. Businesses who sold strictly to in-store customers, such as Melanzana who sells hiking apparel only to in-person customers, had to quickly shift their website into an ecommerce site. To publicize their statements about racial injustice, businesses looked to social media marketing and email marketing to ensure their customers knew where they stood and what they were fighting for.
Needless to say, digital marketing proved to be of the utmost importance during a time where so many events needed to be addressed by businesses. By using their digital platforms and adapting to rapid changes, some businesses have been able to maintain profits while also fighting to make a difference.
Are you ready to #CalibrateYourBrand?
At Meridiem Marketing, we aspire to help you do what these companies did: calibrate your brand and increase your digital presence when it matters most. Contact us if you would like a free consultation on how you can keep your business on the path to success and check out our services to see how we can best provide for you and your business.