Planning in the Midst of the Crisis

Planning, planning, planning.

To a large extent, that’s pretty much all you can do at this time. Hopefully, you are keeping a presence on-line, as well as on traditional media.

 Truly, we have no idea when this is going to end or if it is going to end.  Do be aware that if this all clears, lots of companies (including your competitors) will restart and/or enhance their advertising.

That tells me that when the demand increases, the cost of advertising will rise. 

You can pretty much plan on that. If you are a believer that this will end this year, you need to be ready to double your marketing budget.

History tells us that businesses who advertise during the crisis du jour, will do much better once the crisis ends.

Maybe this is the time to catch up on your marketing reading. Let me suggest you read the book Purple Cow, by Seth Godin.  Purple cows stand out!

Hbalfanz7@gmail.com

Center for Disease Control guidelines

The Center for Disease Control has published reopening guidelines.

These are critical for business owners and managers.

Link:

https://www.cdc.gov/coronavirus/2019-ncov/community/reopen-guidance.html

Covid Liability

Among many political battles raging is the question of Covid-related liability for employers.

If you open your business and one or more of your employers are contract Covid-19 should you be liable?

(As an aside, how do we know if the employee contracted Covid at work or somewhere else? Do standard workers comp policies cover these illnesses?)

The Great Reset and Your Brand

This is the year of the Great Reset. Things will change, and you need some basic marketing tools to execute the Great Reset for your company.

 First of all, answer the question: what business are you in?

The  shoe store owner is going to say I’M IN THE SHOE BUSINESS.  Well, without being too negative, that’s not the answer. The owner actually is in the fashion business. Or the comfort business. You need to market your business to make it very clear what ‘feeling’ you want the customer to have.

When Charles Revson of Revlon was asked this question, his answer was that his company was in the hope business.

So—start here. What business are we in? What emotional needs do we want to fulfill?

Henry Balfanz, MBA