Martijn Pierik
While COVID-19 certainly took its toll on many business-to-consumer market sectors — particularly entertainment, hospitality and travel — business-to-business sectors such as high tech, sustainability and life science experienced unprecedented growth. As we emerge from the pandemic, the marketing and business development needs of all these areas vary greatly, depending on both short-term needs and long-term vision.
Those who own a restaurant or retail establishment may be reevaluating their business model. Those in the high-tech sector may be trying to keep up with demand and navigate supply chain and talent shortages. At first glance, these may not seem to be areas where marketing activities apply, but nothing could be further from the truth. That’s why now is the perfect time for businesses to check in and evaluate their brand and align their business’s marketing efforts to come out of COVID stronger and more focused.
Brand Check-in
What a company appeared to be before the shutdown is likely not the same as it is now. Many companies have spent time pivoting their businesses during the shutdown, so before they decide to go back to “business as usual,” they should take a closer look at what has shifted. Have their customer preferences and needs changed? Is their business model still working or should they make changes to stay relevant and competitive? Is their team happy and engaged? Do they still follow the same mission, vision and brand values?
If things have changed, it’s important businesses spend the time and money to make sure their brand is aligned with the changes and focused on serving the needs of their clients and customers.
Attracting New Talent
COVID created an exodus of people quitting unsatisfying jobs. Many are looking for change and a fresh start. If they lost their job in a market that was hit heavy by the pandemic, they may be looking for work in a more stable or growing industry so they don’t have to go through that loss again.
Hiring is suddenly a buyer’s market, and the stakes to attract and keep talent are at an all-time high. The work-from-home economy has eliminated geographic restrictions and given unlimited access to good-paying jobs anywhere in the country. Money is often not the main motivating factor. People want a meaningful career path that makes a difference in their world. They want to work for a company that aligns with their personal values, offers flexible schedules and respects a healthy work/life balance.
To attract talent, a brand needs to speak to recent college graduates and other
employable people. It needs to be clear about where it stands on social issues and showcase its corporate social responsibility to promote its company as a best place to work. This is essential not only to hiring new people but retaining the talent it employs today. To be competitive in today’s market, it is necessary that the brand invest some of its marketing budget in building up and promoting its employment brand.
Marketing During a Growth Cycle
The semiconductor chip shortage has hit the mainstream media spotlight. Suppliers to the semiconductor industry are struggling to keep up with explosive growth. A supply chain shortage is making it difficult for many to get the raw materials and components needed to make their products and keep up with demand. They are hesitant about marketing, because they can’t currently handle new business.
However, now is actually a great time to focus on marketing. It may seem counterintuitive, but to stay ahead of the competition, a company should be open to new business opportunities. The supply chain issues won’t be here forever. Many businesses are actively looking for additional suppliers, so it may be possible to open up new sales channels. Besides, it takes time to onboard new customers and add orders. The best way to approach business development post-pandemic is to have a long-term mindset. That way, a business can ramp slowly, without compromising the quality and service its customers expect.
Think Global, Act Local
Regardless of how global industries are, to bounce back from the pandemic, companies should focus on rebuilding their own local communities first. They can do so by outsourcing to local businesses. There are many global technology companies based in Arizona. Rather than pairing with the big, national, full-service marketing agencies to handle all branding, communications and public relations needs, businesses should consider engaging with local agencies that specialize in these different areas. A healthy economy in our communities attracts more talent and builds a better lifestyle for our work force.
As a Phoenix-based agency, we at Kiterocket have been fortunate to support technology and sustainability clients at home and abroad as they navigated through the pandemic. While we had to do some pivoting of our own, we’ve learned what it takes to stay strong by practicing what we preach. As we come out of this experience, we look forward to helping build a brighter future and a stronger economy for Arizona.
This is one segment of the August 2021 cover story “Coming Back: How Marketing Will Build (Back) Business after COVID-19.”
Click here to check out the other 10 businesses and the cover designs they submitted for the Cover Story Cover Contest (winner was featured as the actual magazine cover).
