While many unknowns remain about the Coronavirus and the full impact, it will have on anyone business, and one thing is clear: There is no shortage of people rallying no shortage of businesses pushing through and no shortage of planning.
With that in mind, many business leaders and experts are sharing their insights to help those who need guidance right now. Women in Business – Leading the Way Best Selling Author Marci Klein was recently interviewed and shared her candid responses to 6 questions that every business owner and entrepreneur needs to ask about how the Coronavirus is going to impact their business:
If my economy takes a serious hit, how will it impact my customers or clients?
Marketing is a necessity for most businesses to survive; however, when the economy is hit, it’s an area where many businesses may believe it’s best for their bottom line to hold back or spend less on marketing – justifying that video is a luxury item. . However, I believe it’s just the opposite. If you compare marketing to the stock market, the best time to invest is during a downturn. With video marketing, I think that same theory applies. Get in while the market is low, and then you will be one who profits when growth starts to happen. If you keep your business name and service out in front of your potential customers, when the economy recovers, your name will be in the forefront, and your customers will return for your product or service.
Understanding this impact on my customers or clients, how will it affect how, when, and what they buy from me?
Companies that understand the power of video, who understand that video 600% more effective as a marketing tool than print and direct mail marketing, will hopefully continue to use Klein Creative Media to grow their business. I can see companies really watching their bottom line when it comes to any spending, so even though it’s possible they may want to spend less, I think they will continue to buy video content, but possibly focus on less expensive video products, or purchase fewer videos. This could mean changing the creative concept to be a less expensive video. Our videos are all custom made to accommodate the vision. So if we change the vision, we can change the price point to work within most client’s marketing budgets.
How can I take steps today to best position my company to best and most profitably serve my customers as these shifts are happening?
I can offer alternative affordable options for companies watching their pennies, and I can help business find creative concepts that cost less but get out the same targeted message I can also provide barters for other services or products that I may need.
“What steps can I take today to mitigate the risks to my company born out of Coronavirus?”
I can continue to keep strong relationships with my past clients and future clients to remind them that I’m here to help. I know the power of video marketing therefore; I will continue to create new fresh content to remind potential clients that Klein Creative Media is still here to help their business survive these unprecedented times.
“What big opportunities exist for me and my company born out of this situation?”
I have used some of my downtimes to pursue RFP opportunities. Creating an RFP is a full-time job. Without this break in the business, I may not have had time to invest in the RFP to the extent I have dedicated. So I am planning for my future.
Let’s fast forward to an optimistic scenario. It’s March 2021. The economy has recovered. What do you hope will have changed to make it a better economy for Women in Business?
I hope we are all healthy and optimistic. I hope that this made us appreciate what we have and allowed us to find the silver lining from a horrible pandemic. I hope we continue to enable businesses to work remotely to help save our planet with fewer automobile emissions. I hope that all companies, women-owned and otherwise, can pick back up and create an even stronger economy than before.
Learn More about Marci Klein, CEO of Klein Creative Media, Inc.
Website URL: www.KleinCreativeMedia.com
YouTube Channel: https://www.youtube.com/channel/UCxytpVdSw7_rTkyxmKlviEA?view_as=subscriber