Devastating Coronavirus and what it means for your business & marketing

If you look at what has happened during the dotcom crash in 2000 and the banking crisis in 2008 then there was a lot of people who decided to double down, also there is many others did not.

During an economic downturn, you will see that the case is, that you will have far less competition. On the plus side this means it is easier and can be faster to gain results and sales.

You can discuss deals and in some cases, be able to negotiate better deals, including potential reduction in pay-per-click advertising.

There is one way to think of this and being realistic out of all the companies out there, you can be rest assured that there is an increased debt that people and businesses are taking on. Simply put if the market keeps going down, many companies will struggle to pay off their debt.

Unfortunately This means a lot of companies will either go bankrupt, will be bought out, or will just about struggle through via government grants and for the larger companies huge bailouts.

With the government offering companies to help subsidise wage bills by 80%, this act may be able to cut costs enough to pay their bills, but for most, it will be too late.

Again, this is sad for a lot of companies but it just means their is less competition for you.

Most don’t have to joys of being lucky enough to be sitting on piles of readily available cash, during the recession. For others they will see this an an opportunity and realise this is the best time to buy out other companies. You will see media companies are normally one that get sold during this time.  

Why you ask? well its simple, the more people who’s eyeballs you control, the more power you will hold in the future. 

So i think this should tell you that YES!!

You should still be marketing but it needs to be done in a correct manner.  

DON’T profit off the misery of other.  

DON’T be buying up all the supplies like some and selling them on Ebay and other platforms for 4, 5, 10 times the price in some cases.  

Do things the right way and you will benefit in the long term, be in touch via social media and your other marketing channels, realise that by controlling eyeballs, keeping in touch and spreading useful messages to the world that, it gives you the ability to sell anything you want in the future.

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