In the last few days it has become clear that the coronavirus crisis is going to have a very real impact on the economy not just now but for the next few months.
With a contraction in both consumer and business demand this will inevitably lead to fewer opportunities for most of us. It's not all doom and gloom though as there of course will be exceptions e.g. Distribution, Food & Drink wholesalers, Remote Working (Hardware & Software incl Video Conferencing), On Demand Entertainment, HR Advice, Accountancy and Business Advisors.
There's a silver lining for many though and what's really satisfying is that most of the below are taken directly from our own client experiences plus our own interpretation of what we see and hear:
- Distribution clients who are seeing minimum 400% increases in their business and are now closing their book to new clients.
- HR Advice clients are working from very early morning to very late at night supporting their clients, clients' employees and their own staff.
- The exceptional Business Advisors will reap tremendous rewards during and post the crisis as the wheat are seriously being sifted from the chaff.
- Fitness provider clients are running online classes via video conferencing
- On demand entertainment providers are having to reduce the bitrate (number of bits per second that are transmitted across the internet) as exceptional levels of demand slow down their service. (credits: YouTube, Netflix and Amazon Prime)
- Tech companies like Microsoft (through their Microsoft Teams offering for both businesses and education go through the roof)
- Video conferencing providers like GoToMeeting, Zoom, Facebook and HouseParty experience exponential growth as pretty much all areas of society (from religious to secular to traditional and seek to use their services to communicate.
How we choose to respond to this will determine what each of our businesses look like in six months? Which will you choose: Freeze, Flee, or Fight?
We're 100% choosing to Fund the Fight to get out of this, more details to follow about that means, but are you going to do the same?
The marketplace has already changed. But what does that really mean, well in Economic terms if Demand drops and Supply stays the same then Competition will intensify. Yes I know Propensity and Elasticity will influence to what degree the market is changed by, but that's a whole other series of blogs.
So how do we respond to this? Essentially we respond by differentiating our offering. That may be through innovation, be that: product; service; channel; distribution; relationships; image/reputation. Lastly you should always avoid differentiating on price as it fast becomes a race to the bottom.
If Necessity is the Mother of Invention, then the Father is Opportunity
Already we’re seeing really innovative approaches: encouraging regular customers to buy gift cards or vouchers; changing work practices through technology; changing opening hours to suit an older vulnerable clientele; offering no-contact deliveries, etc.
However, each approach still needs to be communicated to its target audience in what will fast become a crowded marketplace vying for a reduced level of demand.
In such an environment, inevitably this will lead to a higher cost of acquiring new business.
At Inspire Digital, we are very well placed to help you through this.
Over the last three years, we’ve noted the rise of paid advertising as Google throttle back organic search returns, and in turn giving greater prominence to the Google Map Pack and Knowledge Graph Panel.
In the latter part of 2019 Inspire invested heavily in our SEO capabilities. Since 2017, we’ve led the way on both Knowledge Graph Panel and Google Map Pack optimisation as well as pushing the envelope with paid advertising through our analysis of our client's Data Mountains.
Digital marketing is critical
In the current climate, investing in effective digital marketing is no longer simply important, it is critical in picking up those fewer opportunities that remain.
We are able to assist you in the following:
Where do I spend my money? Undertand your environment
Our recent investment in reporting tools means what previously took weeks of manual effort can be carried out far faster. We've shifted that effort from gathering the data to analysing and interpreting where best to surgically apply our clients budget, we then assess impact, then rinse repeat . This is all done to get you the results you require.
Important Caveat: We don't operate in a vacuum hence we do not guarantee results; what we do guarantee is transparency and most of all progress. We know how hard it is earn money so we treat your money as if it is our own.
If you’re already an Inspire client then we will have your Google Analytics, Search Console and Google My Business stats in place.
Grow Organic Traffic
Improving your website’s optimisation will improve your visibility in search results and result in more traffic.
We’ve developed 4 SEO packages, Silver, Gold, Platinum and Enterprise packages.
These cover everything from basic metadata to content strategy, blog writing and backlinks. If you haven’t focused on SEO before, now is a great time to start.
Google Map Pack & Knowledge Graph Panel
KGPO – Knowledge Graph Panel Optimisation – is a highly effective standalone SEO service that boosts your Google Map Pack profile above organic search returns. The purpose is to harmonise what is a fractured and fragmented KGP online presence into a single consistently loud voice.
Ideally suited to clients who’ve been established for many years.
GMB Boost – for companies wanting to maximise the return they can get from their Google My Business listing. This is a highly effective way of getting more from organic search returns – and improves engagement with your clients. The purpose is to have relevant content activity on a regular basis.
GMB Starter Pack – for companies whose online Knowledge Graph Panel presence is relatively intact but have not taken full use of the initial features.
As Google and Facebook partners, we offer a first-rate service managing Google and Facebook ads for our clients.
If you are looking to get above your competitors organic search or map returns, the fastest way to do this is through a paid ad campaign.
Yes, the cost of acquiring business will be higher. But for those who’ve neglected their online presence there is little alternative when compared to the need to survive.
To talk to Inspire about any of the above services, just hit the contact below and request a call back via email. Alternatively, call our office number 01738 700 006 and speak to one of our team about how we can help.
We look forward to hearing from you.