With lock-down easing, businesses stirring and reopening over the next few weeks, more confidence will gradually return for decision makers to restart projects and think about future plans.
So it's important that your prospects are aware and reminded of your services. Leaving it until when the economy has returned to near pre-shutdown levels (which is unlikely for a number of sectors this year) will probably place you behind the uplift and a real risk of struggling to withstand this severe contraction.
Whatever your offering is you will need to prove that you can provide or add value, so marketing materials need to be focused on getting that point across as well as demonstrating your fantastic capabilities.
Impacts on Business
As a return to norm will be gradual and incremental for different sectors your new business strategy will require a more nuanced approach. Some sectors are going to be operating in survival mode only for the next few months, whilst only a lesser number will be in a place to think of growth and investment plans.
However, with the massive amount and speed of money printing going on (really digital money creation), along with various business stimulus schemes and Rishi Sunak's vow to do 'whatever it takes' to reinvigorate the economy and stimulate an increase in demand, a business recovery will be sooner rather than later. Fingers and toes crossed this situation will be as short lived as possible.
I think we're already in a recession, which means less opportunities about, so you'll need to put greater efforts into finding new work. Inevitably recessions will impact businesses of all shapes and sizes leading to mergers, consolidations and sadly liquidations.
Often in these scenarios existing agencies may be ditched and a new, fresh approach agency brought in. Purchasing teams and internal marketing departments may also face a shake up of personnel - which may again trigger an opening for a new agency approach.
If you can get through this tough time, you may even benefit from the possibility of reduced competition about for a while. As an economic recovery takes off, there maybe a bigger slice of the pie to be had.
When best to reach out?
Really you need to reach out before not just after recovery. I'm pretty sure at least some of your competitors will be upping their prospecting game. Do you really want to let them to get ahead of you? Doubt it.
Doing nothing is far riskier than allocating some time prospecting.
So what are you waiting for? Just get on with it.
And if you'd like outside support, get in touch.