March 30, 2020
The marketing landscape has, like many other sectors of the economy, been experiencing considerable turbulence during the Coronavirus. Many people's business and jobs are being affected, and the whole structure that holds up our startup ecosystems is being rocked.
But even so, it's a fantastic time to learn from marketing practitioners at work in this brave new world. The plan and assumptions are out the window and all hands are on deck working to help not just their companies survive, but often to find completely new purposes to remain relevant.
"Avoid the urge to do recession-discounts. Might hurt your brand and profits for good. Instead, create new downmarket products that cost less, but have no comparison to your existing products. That way you can avoid discounts, but still offer folks the price cuts they need."
Founder and CEO at CXL Copytesting
"We’re working to be more relevant for people that locked inside. We’ve made our cancellation policy more lenient and are communicating it more broadly, reorienting our marketing spend toward less affected places, and launching a campaign to help users ‘travel from their couch’. We ’re making bold and strategic bets to put us in a good position for the next market upswing."
Sr. Growth Marketing Manager at GetYourGuide
"As a travel company who has no exclusions for Coronavirus, the SafetyWing team in all departments has been working around the clock to help our customers through our products. Our marketing team has been focused on expanding this effort to help the whole travel community, launching free and valuable tools like flattenthecurve.global (an interactive map to help people find reliable information about where they are)."
Head of Growth at SafetyWing
As founders, marketers, and humans, we've suddenly found ourselves under constraint. When economies crash, we cannot simply throw capital at a problem. We're forced to solve our problems more creatively, which is why this time is an opportunity.
People and companies will be hit hard by the recession and fallout created by the virus. This much as cannot help. But if we try, we'll also create some things we're proud of, too.