“Never let a good crisis go to waste.” - Winston Churchill
With the recent challenges brought on by the COVID-19 pandemic, many companies are changing their practices to reflect the new reality. You might be wondering, how can I use this time effectively?
It’s become ever so critical to start examining ways that your company can reduce its marketing costs without impacting your customer experience. Now is the time to focus on house cleaning and improvements, not take a break.
What can you learn? How can you keep your team focused and engaged? Here are 6 ways you can leverage this time effectively to ensure business success and continuity.
1. Re-Prioritze Your Weekly Learning
2. Switch Your Event Budgets to Virtual Events
3. Clean Up Your Marketing Database
4. Review Your Martech Stack
5. Build Relationships & Alliances with Sales
6. Improve Your Process, Productivity, & Virtual Culture
Many marketing operations leaders are not only changing the way they work, but when and how they work. Activities that would normally take place annually or quarterly have now become a weekly practice.
McKinsey & Company recommends moving some activities which which were done on quarterly and monthly basis previoously to a weekly habit, such as:
According to AdAge, hosting, attending, and exibing events take up a solid 21% of overall marketing budgets. With lockdown orders and social distancing regulations cancelling most events, marketing operations leaders can reallocate event budget to digital events like webinars and podcasts.
If you lack the infrastructure to create, edit, and publish videos from an at home office, now would be the perfect time to invest. This works to your advantage in two ways: it’s never a bad idea to invest in a proven virtual channel to communicate with your audience, and it is also another skill set for your modern digital marketing team.
ProTip: The budget for physical events can be split into multiple programs of virtual events. Do more with less.
Examining your data, maintaining, and optimizing your database is an important task, with or without the existence of a pandemic. Since we’re on the topic of using your time during this crisis effectively, now’s the time to roll up your sleeves and take a good hard look at the marketing data your business has been accumulating.
Start by analyzing your lists - is your email bounce rate high? Are you getting poor engagement data from your campaigns? This could mean that you have a fair amount of bad data in your database. Data decays with time, so this includes anything from old, deactivated emails to spam bots.
This is a good time to:
Has it been a while since you’ve revisited what tools are in your MarTech stack? Have you lost track of your subscriptions and who owns what tool and system? Do you know all the executive sponsors for why tools are needed?
If you answered no to any of the above, take a few moments with all your stakeholders to review what tools you’re currently subscribed to. Some of your pre-existing contracts may expire soon. While doing this, you may realize that some tools in your MarTech stack might not be as useful as you once thought. Some criteria you can use to make this determination is:
If you answered no to any of these criteria, it’s time to re-think your MarTech Stack. Getting rid of tools you seldom use can reduce some clutter, not to mention critical business costs. Optimizing your MarTech Stack can reduce the complications and noise of having to deal with different systems and tools overlapping in functionality.
ProTip: Examine if one tool can do the work of two. You will be surprised what you find!
Coordinate with your Sales Leadership to align on common objectives. Many topics can be on the agenda: Use this time to better understand what your sales team needs from marketing to better focus your marketing activities.
Help your sales team:
Look into any underutilized tools in your MarTech & SalesTech Arsenal and what they could do. Don’t stop reaching out to former clients or new prospects; however do it with empathy. Examine ways you can shift in person outreach meetings to the virtual arena.
Make sure you’re setting appropriate expectations and reporting accurately to ensure effective campaign performance. In addition to this, here are some other things you can do to improve your relationships:
Depending on what industry you’re in, you may have transitioned the majority of your workforce to a remote working environment. This means that holding your team members accountable while ensuring they have what they need to keep their tasks organized and on track may be a new challenge.
Now would be an excellent time to review and optimize your work management process and boost productivity. Examine if there are any work management improvements you can make. There are a variety of work management tools at your disposal that you can deploy to help your team be better organized:
Review your Service Level Agreements (SLAs) with the rest of the company and other partner organizations. Can any realistic improvements be made to the current expectations you have? Look into seeing if the scope of your agreement can be expended to include more ways you can be of service to your organization.
Just because everyone is working from home, doesn’t mean that social get-togethers and beer Friday’s should be forgotten. Macro finds creative ways to maintain the same awesome culture while everyone works in self isolation:
If your company is in a hiring freeze due to COVID-19 putting a halt to onboarding that enthusiastic digital marketer or CRM expert, you interviewed earlier this year, can be very frustrating. However, this doesn’t have to be the case.
This is where Macro stands ready to provide extra hands and brains to fill in that gap. We offer flexible resources on a per-project basis or on-going basis to best meet your needs. Our skilled specialists are ready to help you ensure business continuity.
If you feel you need to take some time for yourself for health reasons, please do so. When you’ve taken the time you need, get out there and start leveraging this situation to your advantage! Speak to one of our advisors today.
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