Coronavirus is Killing Small Businesses
Well everyone is officially freaking out. The coronavirus is spreading and business, events, restuartants, you name it are shutting down and closing. And most, if not all small business owners have the same fear in their gut. What the hell am I going to do for money? This is something that we are all facing. The entertainment industry is usually the industry that is hit first. Poeple cancel events, shoots, projects, and go into panic and freeze mode. It reminds me a lot of how the holidays are. Around Christmas time people just stop working and can respond to that email, but they just don’t. This is a lot like that business wise. People are scared for their business, and they should. So since I’m in the same boat I wanted to share what we are doing at C&I Studios to combat this. First, we have to practice what we preach. So we increased our marketing spend on our business, our advertising budgets increased, sen budgets, content budgets you name it, we put more money into it. All consumers are doing right now is sitting at home, on the internet on their phones. When they are tired of reading news articles about this virus they are looking at things, and brands online that interest them. This is where your marketing comes into play. And we aren’t just spending more cause we are a marketing company and that sounds good. No, we actually need it to work. Businesses will bounce back, projects are currently happening now and it will ramp back up, and when it does you want your business to be ready.
Also, it;’s time to adapt.
Change is a good thing.
I was thinking about the restaurant industry. If you are a restaurant, you’re probably freaking out. The lunch rush is gone, dinner rush = gone. So what can you do. Well, Uber Eats and Postmates are skyrocking right now. Everyone is at home ordering in of course. So now more than ever your video content, photo content and social media are now THE MOST IMPORTANT THING. this is why people will Postmates from you than the other person. You have to work to continue to stand out during this time. Its time to switch it up, run some sales, some discounts, create specials and market them to people.
People are spending money.
If you don’t think they are, check out grocery stores, target, and walmart. And yes people are scared, but a lot of people are also shopping online. So why aren’t they shopping at your brand. This is when your digital presence matters more than anything. So its time to make some moves.
Finally, work on YOUR BUSINESS. You have been so focused on your companies operations that you are now being forced to think outside the box. Now is the time to do all those web changes you’ve want to do, or setup that campaign, or make that video production project happen. This is the time to plan. Will it all cost money. YES, but if you don’t get ahead, you will be left behind. Some restaurants and business will remain in business, becaue they will adapt. Others will die, because they didn’t want to do anything, so they will be left with nothing.
Thankfully all of this can be done from your home communicating with your Advertising and Marketing Agency. Product and commericals can be shot without getting 10 people together. Web projects can be done remotely. Things can happen, you just have reset your mindset out of fear and into how you can not only make your business survive but kick ass.
Set yourself up for when the virus is done. That isn’t the time to start getting your company back together, that is the time to start implementing the projects that you are working on now.
We will get through this. You remember what it was like when you started your company. So stay scrappy, get strategic, and spend money, where you know you need to. Doesn’t matter what you sell. If no one knows about you, then who cares.