Should You Stop Marketing During COVID-19?

As a small business owner you may be concerned about the impact of the coronavirus has on your business; your revenue, employees, and marketing funnel. Although you shouldn’t stop marketing during CONVID-19, there are many ways your marketing approach could go wrong. So here are three ways you can effectively market your small business during the coronavirus outbreak.

The Impact of Coronavirus on Small Business

As a human, I’m sure you’ve been affected by COVID-19 (also known as novel coronavirus) in some way.

Whether that means worrying about elderly parents, changing travel plans or stocking up on essentials to work from home for the foreseeable future, it’s hard to not feel the stress.

As a small business owner, you may be seeing fewer customers as people limit social interaction, change travel and leisure plans and focus on staying healthy rather than on shopping for products and services.

Unless you sell toilet paper or hand sanitizer, you may be concerned about the impact of the coronavirus on your small business; your revenue, employees, and empty marketing funnel.

So does that mean you should hunker down and stop your marketing efforts for the time being? No!

The World Health Organization has declared coronavirus a global pandemic, and it’s a very uncertain time. However, I’m a firm believer in focusing on what we can do and change while finding the opportunities amidst adversity.

Every challenge can be met with common sense, rational thought and even kindness. This is not the time for irrationality. I was watching a webinar the other day and someone said, “Worrying is like a rocking chair—it gives you something to do but it won’t get you anywhere!”

I know we are living in troubling times. The virus and how the global economy is responding to the preventative measures being placed is something that will go down in the history books.

But as business owners, there is one thing we do still have control over, and that’s the ability to be resilient and make choices that will get us through these times as best possible.

In this article, I’m sharing some ways you can address the challenge of marketing during a crisis and keep your business going.

Let’s start by looking at two of the wrong ways to approach marketing during a crisis right now:

1. Making a joke about coronavirus. A few weeks ago, it was common to see online memes and humorous marketing campaigns being shared. A Las Vegas jeweller even created a campaign to sell rings!

As more and more people around the world were affected by coronavirus, these slowed down a lot. Making light of the situation is not only in poor taste, but you’ll likely drive away a good chunk of your target audience.

2. Playing on people’s fears. It’s one thing to use a sense of urgency to sell your product or service, but it’s another thing entirely to use scare tactics.

For example, don’t scare people into buying a first aid kit with a message like “Only two left! Don’t risk your family’s health!” Rather, focus on the benefit of being proactive and prepared by stocking up on medical supplies.

Make sure the angle and tone of your marketing reflects your customer’s current concerns and pain points without capitalizing on their anxiety.

How to Effectively Market Your Small Business During the Coronavirus Outbreak

No matter what type of small business you have, your priority should be clearly communicating with your customers to put them at ease.

Think about what your clients need to hear from you, and how you want to position your business during this crisis.

Here are 3 ways to market your business during the coronavirus crisis:

1. Reassure everyone that you’re protecting their health. This is especially true if you have a brick-and-mortar location. This may mean sharing your extra sanitation practices, putting a hand sanitizer station at the front of your location or implementing a policy where all staff wear masks and gloves.

For example, WestJet shares their additional precautionary cleaning measures due to coronavirus on their website.

2. Be prepared to pivot. You need to be flexible to best serve your customers. That might mean instead of cancelling a customer conference, you change it to a virtual event.

If you are planning an upcoming workshop or event, pivot with your audience in mind. It’s possible you have already been forced to cancel or postponne, but don’t assume everyone wants the solution you’re providing.

Consider options such as making it a virtual version of the event or postponing your conference to a later date. Or some people may want ticket refunds.

Polls and questionnaires can be a great way to get honest feedback from your ticket holders before changing an event.

And of course, take a look at all of your contracts to ensure you’re covered before making any changes.

If you’re a service provider, create other ways to help your clients like this fitness trainer did. He offered them a way to stay fit that doesn’t involve being around a group of people in a gym.

3. Make your employees a priority too. Don’t focus all your efforts on marketing during this time. Your employees are what keep your business going, so how can you care for them?

Maybe you can give your staff the option of working 100% remotely while COVID-19 is a concern. Or, remind them you fully encourage them to stay home if they’re feeling sick.

The more you can put your employees at ease, the better they’ll be able to support your business and your customers.

What Small Business Owners Can Learn from Coronavirus

I know this is hard, and I hope you can hang in there and focus on the present, and on being of service to your clients and staff.

They’re afraid, and what you do or share can help alleviate those fears. Remember to be careful and intentional about what you’re saying.

If your small business is being adversely affected by coronavirus, it’s also a good time to reassess your business fundamentals, including how CONVID-19 is affecting your digital marketing. How will you deal with a crisis the next time it happens? Are there things you’d do differently to be more prepared or prevent losses?

Like everything else in life, this is a learning experience. Stay healthyFeature Articles, safe and positive.

The Almost “Secret Ingredient” to a Highly Profitable Business

Recently, I watched probably one of my favorite movies of all time:

Kung Fu Panda.

Now, before you write this off as a stupid animated movie, there’s a GREAT business lesson hidden inside if you’re an expert, consultant, or coach.

Here’s the TL;DR version of the movie:

1) A big fat panda, Po, is “accidentally” picked to become the chosen one

2) His master, Shifu, doesn’t want to train him because Shifu believes Po was chosen by accident

3) The great master Oogway, however, tells Shifu that “there are no accidents”

4) Shifu finally teaches Po the art of kung fu. Eventually, Po is entrusted with the legendary “Dragon Scroll” which holds the ancient secrets to save the kingdom

5) Po opens the Dragon Scroll only to find… nothing… and realizes: “There is no secret ingredient.”

The essence is simple:

Po always had everything he needed to become “the chosen one.”

He didn’t need anything fancy.

What he actually needed was the right mentor and the right training program.

Here’s my point:

Just like Po realized that there is no secret to becoming the “chosen one.”

No matter what the Fakebook guru’s preach, there is *NO* secret “hack,” “funnel,” or “tactic” that will turn your business into a profitable one.

Of course, you *can* find new tactics, hacks, and whatever. But, if your foundation isn’t solid (i.e., if your strategy is weak). It won’t matter which new hack you try to install into your business.

Whether that’s Facebook hacks… webinars… Instagram… or, insert whatever new tactic the latest Fakebook guru’s try to shove down your throat. Eventually, it’s only a matter of time before your business crumbles beneath its own weight.

The closest thing to a “hack” that can take you from frazzled entrepreneur to profitable business owner is learning how to write emails that sell.

The only difference is that email marketing isn’t a hack… it’s a powerful strategy.

In my opinion (which, of course, makes it a fact).

This was true when I worked my corporate job and sold for millions of dollars by email and online marketing.

And it’s been true in my own business.

To round this off.

Let me close with my favorite quote from the late, great, and esteemed, Mr. Eugene M. Schwartz.

This quote is as relevant today as it was when Eugene Schwartz unleashed these true words upon the world of advertising:

“The task of a copywriter is not to create this mass desire – but to channel and direct it.” – Gene Schwartz

Take that to heart the next time you sit down to write your latest email designed to sell.
If you want to discover how to 2x your sales and get more clients for your business, my free online training session is a great place to start.

You’ll learn how to use the old-school principle of “Infotainment” to write emails that people LOVE to read. Including: How to write stories so compelling they immediately draw customers in – even if you’re not a professional writer… and much more.

CoronaVirus Effects on Toronto Real Estate Market

Toronto Real Estate Market Sales are up 45.6%! Average Prices Up 16.7% amid CoronaVirus (COVID-19) fears! CoronaVirus impacts on the Toronto’s Real Estate Market, March 2020!

This is a thorough review about what’s going on in Toronto’s Real Estate Market! Here you read about the CoronaVirus (COVID-19) effect on Toronto’s real estate Market and how the corona virus will impact the market and capital markets! This report, in addition, includes forecasts and Supporting Data to our Past Forecasts. And also how the Market Meltdown would impact real estate in Toronto.
Toronto Housing Market Overview Amid CoronaVirus fears:

March 2020 has started with a total of 7,256 resale transactions reported through TREB’s MLS in Toronto’s real estate market. That was a historic 45.6% increase in the number of sales compared to last year similar time in Toronto’s real estate. On top of that the average home price in Greater Toronto Area (GTA) has been $910,290, which is OVER 16.7% price increase Year over Year in Toronto’s housing market!
CoronaVirus (COVID-19) impact on Toronto’s real estate Market:

Meanwhile CoronaVirus effect in the capital markets was heavy in February. Toronto Exchange Composite Index hit the highest 17,944 on February 20th, then dropped to a low 12,700 on March 12th, which is a HUGE 28% melt down in almost two weeks!!

On the other hand, the Toronto real estate market, was the strongest since 2017, amid all the COVID-19 pandemic panic. I, as a Toronto Real Estate Agent and investment analyst, have seen more investors entering the real estate market when the forecast of the stock market seems volatile to them. If you look at the REITS (Real Estate Investment Trusts) stocks, you’d see among the huge meltdown in all other sectors, the REITs are performing relatively better than other stocks ( less plunge we see in those stocks) . Especially residential REITs. The symbols that I recommend you to follow are : REI.UN ( RioCan REIT ) and CHP.UN ( Choice Properties REIT ) .

Real estate in GTA has been a safe long term investment for many. Speculators also have enjoyed the waves here and there, but one important thing to remember is that the buyers who drive the market are not all speculators. They are First buyers, Up sizers, or downsizers, who actually need a roof for living. Many of the buyers are actually end users, second comes the cash flow investors. Speculators are not a big part of the market here.

Is there a FOMO in real estate market?

As someone who works with buyers and sellers in Toronto’s real estate market, I’d say that the FOMO has returned to the market, and much more buyers are competing on the properties more than a couple months ago. Numbers also support that, number of sales increased by 45.6% and the number of active listings dropped by 33.6%, which puts even more pressure on the standing inventory. That being said, amid CoronaVirus fear, I forecast even higher price increases in Toronto’s housing market for the next month! That’s in the opposite direction that the stock market moves currently!
What will happen to the markets if the CoronaVirus (COVID-19) gets under control:

If the CoronaVirus gets under control in Canada, i.e, they find a cure for it, or somehow control it, the confidence will get back to the stock market. If we look at the lessons learned from SARS, we’d realize that the CoronaVirus will be controlled at some point, that’s when the markets, especially stock markets, would start rising again. In that case the money that flows to the stock sector would be a relief to the Real Estate Market. But again the FOMO might cause a minor bubble for the stocks as well. Which will eventually be corrected sooner or later after that.

But until that timeArticle Search, I think the real estate market in Toronto would be subject to higher price appreciation.