Impact of coronavirus on SMEs sales
Drop-in SMEs sales, cash flow, and supply chain disturbance are the key pain points for small businesses influenced by Coronavirus. How to get through this corona crisis? Should they hire a marketing agency, or try to go through the recession with an in-house team?
As the COVID-19 pandemic keeps on causing human enduring on a worldwide scale, an expanding number of SMEs dread that the monetary effect will likewise prompt a decrease in incomes and are questionable about what’s to come. By hiring a marketing agency and entrusting the increase in your sales and customer engagement to professionals, you, as an entrepreneur, can tackle the more important challenges of running your business.
Coronavirus greatly influenced all industries, many of them even went bankrupt, for example, we took Sweden. Since this country is a young EU member, and from it, we can determine the real picture of the economic collapse around the world.
Even though Sweden has chosen to avoid an official lockdown, keeping bars and restaurants open, statistics of bankrupt enterprises for three months of the coronavirus are in front of you.
All this lead to the fact that Coronavirus killed many companies, especially SME. In most niches, there are fewer competitors, which means that after a coronacrisis, there would be a probability to change the rules of the market and take part in the relocation of resources in the industry. To achieve this, you need to start your marketing efforts at the earliest convenience and hook up new clients during the recovery of the consumption curve after the steady lift up of quarantine restrictions.
Marketing can directly expand your sales during Coronavirus
Done accurately, a powerful marketing strategy will bring you to the attention of your target audience when the time comes. Incorporating your Site traffic obtaining, Web-based social networking, PR, and on-page transformation strategies will assist you with driving the correct traffic and convert them into SMEs sales and new prospects. Hiring the marketing agency will assist you with creating and actualizing this methodology.
In case if your marketing was done right, it’s likely that you will have at least a certain brand fan base. This will shed positive loyalty light on your organization in the eyes of the target audience, diversifying your company from your competitors. This will obviously influence their decision-making process and will boost the probability of them becoming a future customer and convert into a paying client. Though, very often the challenge of doing proper marketing is challenging especially during the global epidemic and crisis, but some businesses find different ways to stay afloat. A good example from SME is the restaurant The Gallimaufry from Bristol, which, to somehow keep sales, began to sell promotional vouchers and gift cards. This allows you to enjoy a meal or drink at your favorite restaurant in the future by buying a voucher for it now.
Specialized marketing agency or in-house group?
As your business develops, you’ll, in the long run, need to consider how the marketing will be handled. It very well may be an extreme and frequently befuddling choice to hire a specialized marketing agency or an in-house group? Because of understanding, particularly in case you’re an entrepreneur, you ought to consider employing an agency. Here’s the reason…
1) You won’t need to search, train and educate the agency
One of the most tedious parts of recruiting another worker is the way toward bringing them into your organization and having them comprehend their job. Some companies go through months on the preparation procedure alone. Considerably after all that is done, you’ll despite everything need to invest energy dealing with the worker and ensuring they remain focused. With a marketing agency, it’s a totally different story. There is no onboarding, preparing, or investigations on how to manage the process on your side (they won’t occupy any office room) since that is dealt internally by the agency’s management team.
2) You’ll save a decent amount of money.
One of the main questions entrepreneurs pose when attempting to decide whether to recruit an agency or an in-house group is, “What’s the value distinction?” You may be amazed to hear that an agency, extra time, will be significantly less costly. Here’s the secret:
- You won’t have to pay finance charges since they are a self-employed and self-organized entity.
- You won’t have to pay benefits/social insurance costs.
- You won’t need to pay for any of the costly instruments that are expected to appropriately run and track a marketing effort.
In case you’re imagining that those are simply minor costs, you will likewise need to consider that to get the experience and skill of a marketing agency you would need to hire premium representatives. Here are the normal compensations for key marketing jobs…
But also you should understand that a marketing agency will cost from $4000- $10000 depending on your needs and which package of services you choose. But when an entrepreneur chooses a marketing agency, he receives a complex business promotion and receives official guarantees of the result, the ideal quality of the work of professionals, and should not worry about the nuances of the promotion process and the allocation of areas of responsibility.
Most marketing agencies provide these services:
- conducting research (analysis of the market, consumers, brand, competitors, etc.),
- promotion using various channels,
- branding (development and positioning of the “face” of the company),
- market launch of a new product or service,
- sales promotion.
Payment may start from the initial consultation and analytics of your brand. But most companies make them free when buying a promotion package. You can also easily filter out low-quality agencies by price. Many companies want to save money, so the price is the first thing they ask. However, if you find an agency that takes low prices, then most likely they will also yield poor quality results.
Think about it from their point of view: if the agency evaluates itself too low, then it receives a lower margin for its services. Because of this, they are less likely to go the extra mile for your business, because there is no particular incentive.
3) By hiring the marketing agency, which fits and understands your business, you get a 100% guarantee of the result, budget savings, and no risks
The agency values its reputation. Since even one negative review and a dissatisfied customer can put an end to its existence. Therefore, work is carried out solely on the result. If this is a Paid Advertising agency, they have in their arsenal many ways to save the budget for the customer by buying the most targeted leads for the least money.
If this is a lead generation CPA/CPL agency – they already have, as a rule, the entire infrastructure, tools, and team is honed for this process. The processes that the hired marketer will cost a lot of money from the agency to the customer can get completely free as bonuses.
If this is an SEO studio or a complex marketing agency, then for the sake of achieving the planned results in the shortest possible terms, they assemble the team of the best specialists for certain industry promotion.
In general, they tend to do everything possible and impossible to comply with the agreements and prospects for further cooperation. Each new client for an agency is worth its weight in gold is a case that in the future can make the agency a leader in attracting leads to a certain niche and give dozens of new clients to the agency.
On the off chance that hiring an agency is something you’re keen on, make certain to do your due steadiness. You’ll need to ensure you recognize what inquiries to pose and what to search for in an advanced marketing agency to locate the correct one for your business.