Marketing Tips SME’s Can Use During Challenging Times.
- June 2, 2020
- Posted by: Samiksha Khanduri
- Category: resources
Have you heard of the Blue Ocean Strategy? This marketing strategy refers to a road map of creating a new market space & making the competition irrelevant. Difficult to think of, isn’t it? But during these challenging times what else could be a better solution. The sole goal of any SME is to sustain, but sustaining amidst these times is a matter of marketing oneself right. Developing “blue oceans” in your marketing strategy is to venture into uncontested markets & avoid the overdeveloped “red ocean” market.
Marketing simply means reaching out, but how to reach out to the right man at the right time makes for successful marketing gimmicks. When top brands began changing their way of business, especially the travel, food & Real estate industries it was a show to watch how they managed to sustain themselves. Now think of how they did it? You wouldn’t have to brainstorm on that with your team for long, after all, we all know the brainstorming sessions (Puns Intended). Think small. Think simple. What is that thing which all of us share in common at the moment, irrespective of caste, creed or brand? We share a home, we are “Indoors”. And what do we do best when we are indoors, we do things we like – binge-watch (Netflix); Music Tsunami (Spotify); Food Overload (Youtube = How to make McD Fries at home). And when we have happily invested our time in all of the above, we of course work – Work from home.
Now since that is the new normal, don’t you think the SME’s could also benefit from some normalcy? When on buying a McFrie from a Mac Donald offers you a chance to be plugged into music, it becomes a smart strategy. On every purchase of McFrie at McDonald, the fries when scanned by a scanner lead you to a Spotify playlist, made for listening while munching those fries. Now this, not just marketing, this is a blue ocean strategy catering two people at the same time. They hit the one’s with good taste buds & a taste for music as well. Co sharing marketing strategies could be one of the big ways of cross-promoting each other during these times.
The travel industry is worst affected by COVID -19 & its repercussion are here to stay. So, while the state guidelines clearly ask the travellers to get a COVID test done, it sure is not enough. The hostels & Homestays in India have come up with a beautiful concept of “Workcation”. Wherein, since work from home isn’t going anywhere, they offer travellers to work from hostels & homestays under the concept of “Long Stays.” Offering their guests longer stays & a work from home environment, giving a major boost to those who are itching their feet at their home & offered a sustainable income for the travel industry. While the safety measures have to be utmost, the sheer idea of “Workcations”, is the perfect blue ocean strategy of the travel industry, which runs on regular movement.
Your blue ocean strategy need not be a stellar marketing idea; it could simply be “an idea.” Something you can hang on to until the world resumes its ways. Think within the box, and not outside & that becomes your blue ocean strategy for now. For SME’s look inside your house, look for your neglected areas, hunt down those sleeping ideas & you are just a minute away from one big success. The sun of Digital Marketing has finally dawned upon India & there is no other way than “IT.” Make use of people glued to screens & sketch out something for them to think even in their washrooms, while their thinking caps are on! Make the most of this digital phase!
Planning to go digital with your business? Contact us for a free consultation HERE.