🤓 BUSINESS STRATEGIES for SMALL BUSINESS - Consumer Behavior | BizHack - Digital Marketing Training
Channel: BizHack Academy
Date: 2020-04-05

Tune into this webinar to learn why adapting your small business is essential for addressing consumer behavior changes caused by the #COVID-19 pandemic. 

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Now is the time to stop worrying and start adapting your #smallbusiness to take advantage of available marketing resources. 
Learn how to build your brand during a crisis with small business COVID-19 tips and tricks from Bruce Turkel, an author, international public speaker and #branding expert. The key to the brave new world rests at your fingertips. 

✅ Here Are Three Simple Steps To Adapting Your Small Business Marketing: 
Step  1: Adapt Your Small Business While Considering Consumer Attitudes
Understanding #audiencepsychology is the first step to marketing during a crisis. 
Turkel describes four different types of buyers: 
🚦 Slam On The Brakes  13:38
 👉 With slam-on-the-brake consumers, small businesses face the challenging task of persuading consumers who don’t want to be persuaded.
⏳ Pained But Patient 14:07
 👉As consumers suffer in different ways, the pained but patient consumers tend to be optimistic about different perspectives. Most of the time, these are the people looking for a better quality of life. 
🛋 Comfortable 14:39 
 👉Comfortable consumers are more likely to make purchasing decisions. These consumers feel confident in their ability to survive economic downturns because they don’t have debt or are in a higher-income bracket. However, they will still watch their spending to keep up with appearances.
🙅You-Only-Live-Once 15:28
👉Similar to the brake slammers, the you-only-live-once or YOLO consumers are hard to influence, and small businesses shouldn’t expect significant attitude changes. 
While adapting your small business strategies during COVID-19, you should focus on communicating with pained but patient and comfortable consumers. 

Step  2: Know What Products You Offer
As all consumers consider food, clothing, and shelter essential, small businesses should look at what products they offer will benefit the consumers’ well-being.
The Harvard Business Review suggests dividing products and services into four main categories:
👉Essentials are needed for basic survival or overall well-being 17:56
👉Treats can be justified with an immediate purchase 19:14
👉Postponables are desirable but can be reasonably put off 19:48
👉Expendables are considered unjustifiable or unnecessary 20:33
#Essentials are clearly the things that people are going to keep buying. But, be careful because essentials mean different things to different people. 
Just as slam-on-the-brake and live for today people are not worth marketing to, postponable and expendable products are not worth promoting. Consumers will only want products that are considered essential or justifiable. 
If your business is considered nonessential, there are some creative ways you can stabilize your product or service to become more essential. Turkel shares how one of his clients in hospitality builds their brand value by offering services to the community. 

Step 3: Remember The Seven Principles Of #Marketing 
Communicating with consumers so that they can understand is one of the most important things you can remember. In the end, small businesses that strive to make an emotional connection with buyers will flourish. 
Turkel shares the seven principles of marketing 54:56
All About Them 🎉
Hearts Then Minds 💜
Make It Simple 🗾
Make It Quick 🚴
Make It Yours 💁
All Five Senses 🙇
Repeat. Repeat. Repeat. 📅
If you follow the seven marketing principles, adapting your small business to the brave new world can be painless. It will take some new product offerings, tactics, and strategies, but it will all be worth it in the end. 

😎Connect With Today’s Digital Marketing Expert: 
Bruce Turkel https://bruceturkel.com
 
📚Useful Resources:
Harvard Business Review https://hbr.org/2009/04/how-to-market-in-a-downturn-2
Zoom https://zoom.us/
WebEx https://www.webex.com/unified-homepage-081220201.html