We are currently living through a state of great global economic upheaval, with the economy still recoiling from the effects of the COVID-19 pandemic and many people left unemployed or suffering through financial hardship.
For businesses that are just now being able to reopen and stagger back into the workplace after months in lockdown, times are frightening indeed.
With a new normal comes changes and changes cost, not only in terms of capital investment but in terms of brand identity.
Social distancing, mandatory face masks (from July 24 onwards) and that general, perpetual air of paranoia are all going to have an impact on your business’s bottom line.
That’s why so many have reacted by putting the spotlight on their budgets and one of the first areas to be culled is the marketing budget.
Because surely right now, staying afloat is more important than building your brand? You might think so, but we’re here to tell you this could be an incredibly costly mistake, particularly on a local level.
Learning from the past
The global financial crisis of 2008 was arguably the last time we sailed through such testing economic waters.
While there was also a great deal of budgeting happening during these turbulent years, there were also businesses that saw through the murk. They realised that by investing in marketing and maintaining brand equity would mean they would recover on the other side of the crisis that much faster.
Brands and businesses adapting to a post-lockdown world today could seriously take a leaf out of this playbook. Because while cutting your marketing budget might generate cash flow in the short-term, it will have major negative repercussions going forward and it’s going to be in the years ahead that the real battles are fought.
Digital displays – the perfect compromise
Right now, with the world finally starting to emerge from its collective cocoon and venture back onto the high street and into the workforce, brick and mortar businesses need to do something drastic.
People have spent far too long indoors and have become far too accustomed to the convenience of online shopping. Digital signage could be the key platform here to help those stores survive.
Whilst online advertising will generally only lead to online conversions, for businesses that rely on foot traffic, they have never been more in need of something to elevate them from the herd and their online opponents. A digital signage solution is a bold and dynamic way of bringing your brand to life and drawing in custom from the street.
It’s the flexibility of these dynamic digital screens that make them so worthwhile. Whether you want to use them to promote a new product or sale, or to let customers know that you’re fully COVID-secure and prepared (giving them the confidence to step foot in your store), there can be customised on-the-fly and can be whatever you want, whenever you want it.
Paying for marketing online or creating a major marketing campaign is a costly and ephemeral endeavour but digital signage is an affordable investment that can be used time and time again. It’s an investment in your future and an investment in your brand. And in the coming years, brand identity is going to be more important than ever.
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