8 Steps That Help Business Get Through Crisis

Any crisis brings the wind of changes. The coronavirus pandemic has put businesses in completely new working conditions with online retailers being forced to adapt the marketing strategy to existing realities.

Regardless of the reasons, crises and recessions are characterised by a number of inevitable attributes:

  • A decrease in demand. Consumers are less inclined to spend, big purchases are postponed “until better times”
  • A decrease in purchasing power. The less cash flow, the fewer money is in people’s hands
  • A decrease in the liquidity of the banking system. Banks reduce risky assets, lend more prudently and try to cope with the panic of depositors who are in a hurry to cash out personal funds
  • Unstable exchange rate. The rate is changing in accordance with the increasing foreign currency demand, thus complicating financial planning and procurement
  • Increased basic products demand. Due to the threat of higher prices or under the pressure of panic, people literally sweep the essential consumer goods off the shelves

Achieving financial efficiency becomes a primary businesses’ objective during an economic downturn. With this being the key to the continued existence and preservation of jobs, cost optimisation becomes one of the main anti-crisis strategies. Mature companies are cutting back on everything that is not necessary to life support the business. And here it is very important not to cut down the branch on which the business hangs on. If you stop investing in marketing – you are likely to show economic efficiency, but it will not last long.

The economic downturn is changing the structure of demand, leading to the emergence of new market niches and opening up the “redistribution” opportunities of the market.

Below are the eight tips on how to use new opportunities, reduce costs and at the same time maintain the effectiveness of digital marketing.

1.Protect branded traffic

You need to engage customers looking for brand-specific products visit your site, not a competitor’s one. In a crisis, it is unreasonable to lose market share in the hope of fair competition. The same is also relevant to affiliate marketing. Make sure you are not receiving your own website’s traffic at an additional fee via CPA networks.

2. Save performance tool budgets

Offline advertising requires significant budgets at the start, while its effectiveness can only be assessed at the finish. Moreover, it is impossible to measure the contribution a particular advertising vehicle has when it comes to sales growth.

Digital advertising allows you to run campaigns and analyse their effectiveness in real-time. Carefully calculate ROAS (advertising campaign effectiveness), but do not deprive your website of the advertising budget. Usually, having the same budgets during a company crisis, you can get an even better return on investment.

During the quarantine period, there is a risk that the cost of advertising will increase due to an increase in online purchases and delivery services demand. Only time will accurately show, as this is impossible to predict in advance.

3. Set up retention marketing

Users who visited your website before, make 83% of the total number of transactions and bring three times as many revenues than the new ones.

When under conditions of scarcity, strengthen your brand loyalty and increase sales through Email / Push / WhatsApp / SMS campaigns. At the same time, remember that it has nothing to do with spam. Focus on entertainment, information and customer care.

4.Interact with your social network communities

Big retailers tend to allocate poor marketing budgets to social networks. This is usually no more than 5%, and the worse you, as a business owner, can do is to those cut back when in quarantine. Your customers will spend more time at home, meaning they spend more time on social networks. Increase the amount of useful and entertaining content. Of course, you should not launch the giveaway of the latest iPhone, but what you need to show is that you are not indifferent to the situation, sympathise and calm people down.

5. Reduce the cost of display ad campaigns instead of turning them off

Properly configured analytics of display campaigns saves from 40% to 60% of the advertising budget. This is achieved with targeting, combined audiences, frequency capping, preserving along with that the coverage and transaction numbers.

6. Launch New Services

Crisis and epidemics not only create problems but open up opportunities for the emergence of new products and services. Here situational marketing works much better than any pre-planned activities.

Provide users with the opportunity to purchase consumer goods and essentials. If such products miss recommendations, be sure to add them. 

Launch new services that could be useful in the changing market conditions. Help users who failed to find the necessary offline and let them easily complete the purchase on your website.

7. Go outsourcing instead of hiring new employees

A remote employee or contractor is cheaper. In many areas of marketing, it is more convenient to work with an agency: it is easier to hire and you do not need to mentor and motivate. Besides, it has its own IT infrastructure. Finally, you will not have to fire the agency.

8. Train and develop your team

To achieve better results, being better tomorrow is the strategy your team needs to follow, no matter what the circumstances are. A crisis is not just a hard time but also a room of opportunities. This is a big chance to master new tools, explore the changing demand, discover additional opportunities and start moving in a promising direction, which could remain unnoticed during economic stability.

And what is most important, the crisis will blow over in the end. The survived will become unbreakable, and the experience of the crisis period will create the conditions for brands scaling. Global economy remembers the crisis of 2008. Tempered we are – and we’ll make it!

Leave a Reply

Notify of

Recent posts

Call tracking with dynamic number insertion (DNI): how to track the ad source of inbound calls

March 12, 2021

When it comes to effective distribution of marketing budgets, eCommerce businesses that accept orders not only through the digital carts on the website but also through inbound calls, all face the same problem: the inability to see a unified picture of marketing channels that brought customers to their decision to purchase. Here call tracking tools Continue reading >

How to combat cart abandonment with UX: detecting common checkout mistakes of eCommerce brands

February 23, 2021

Online checkout stats shows that more than 80% of online customers abandon their shopping carts. Out of them, about 87% are going to finish their order later. We are not sure if businesses are ready to sacrifice and lose time waiting for those 87% to return and complete the checkout, that’s why in this article Continue reading >

Making the most of email marketing in the beauty industry | Case Study

January 29, 2021

How to engage your mailing subscribers to visit your website? What’s the optimal mailing frequency? How to increase your conversion rates with email marketing? These questions are frequently asked by marketers. The situation gets even more challenging when it comes to the subscribers of a well-known beauty brand. In this material, we share the email Continue reading >

How to market furniture: email, content and remarketing as parts of IKEA marketing strategy

January 28, 2021

Furniture marketing is peculiar for certain reasons. First is that for customers buying furniture this is often emotional and exciting. Second is that this process, when online can take time – there is no way to literally “try on” or test an item. And third is that quality furniture costs money, almost like a small Continue reading >

Let's get the ball rolling

Please fill in this short form and we will be in touch with you soon

For any questions [email protected]


+44 (0) 20 313 766 81
+44 7852 537715

The Terrace AT5,
Grantham Street,

+1 347 809 34 86

Las Vegas
Suite 100,
NV 89113

Roosikrantsi 2-K230,
Kesklinna linnaosa,
Harju maakond,
Tallinn 10119

8 Steps That Help Business Get Through Crisis

start now

Start now