B2B Brands: Five Marketing Strategies to Come Out of the Recession Strong

There is no denying that the Coronavirus pandemic has taken the world by storm with little or no warning, disrupting the global economy.

However, in contrast to the failure of the Internet in the early 2000s and the subprime mortgage crisis in late 2010, the current economic crisis was not caused by an endogenous structural failure of the financial system, but by an exogenous threat to health.

This may be a sign that, although the impact of COVID-19 on the economy is real and we are in a recession, demand may recover sooner or later and sooner rather than slower.

In fact, this is already the case in some areas of the digital economy, including e-commerce, SaaS, and online entertainment.

As a B2B brand, the last thing you need is to lose the economic recovery when that happens.

In this article, we are going to take a look at five marketing strategies that you can adopt now to get out of the recession with the same, if not better, potential.

  1. Organize your communication

COVID-19 affects many parts of the global economy – even if your organization is not affected by the current environment, at least some of your customers, partners, suppliers, employees, and investors are likely to be affected.

In other words, you cannot afford to stand still and continue communicating as if nothing has happened.

To protect your brand image, you need to be in touch with your ecosystem’s priorities, maintain trust and reduce customer frustration (and also revenue).

It is vital to update your editorial line – valid topics include best remote working practices, updates on the continuation (or discontinuation) of the service, contextual presentations, and highlights from inspiring initiatives and positive news.

This helps to remember that in times of uncertainty, everyone, including B2B buyers, has an open ear for leadership. A confident, transparent, and direct voice earns points in the short term and increases confidence. In turn, it pays dividends in the long run.

  1. Train your team

Blockades and requests to stay at home did not affect all professionals in the same way.

Some are busier than ever due to the growing demand for what their companies do and the difficult task of balancing work responsibilities with parents’ responsibilities. Others have a lighter workload and have more time to spare and are free from their daily commute during peak hours.

If your team falls into the latter category, this interval offers you a unique opportunity to hone your skills, learn new things and get a head start when things get back to normal.

If you have an hour a day and have an internet connection, the world is yours through online lectures, podcasts, newsletters, conferences, webinars, YouTube channels, documentaries, books, and blogs. If you don’t know where to start, here is a list of the 80 resources selected for the event. Just make your choice.

  1. Opt for easy marketing

In the past 11 years, the world economy has experienced an “upward” trend. The pandemic ended not only this historic wave but an unprecedented level of political, financial, and social volatility.

This environment, with news cycles changing hourly, requires more adaptability on the part of marketing teams to minimize “missteps” and maximize performance. This is where Agile Marketing comes into play.

Inspired by software development practices, Agile promotes cross-functional collaboration, database decision-making, and a high capacity to respond to changes.

Regardless of the actual method you choose, switching to Agile Marketing is a smart step, both to navigate the uncertainty during this crisis and to make sure you don’t make the recovery you have to not lose for the coming.

  1. Invest in long-term marketing projects

It’s great for maximizing your agility to respond to sudden changes; you can combine this with building the foundation of your brand.

Traditionally, recessions have caused organizations to reevaluate their priorities and focus on their true north, which may have been lost by years of uninterrupted growth.

Now is a great time to deal with some of the long-term marketing projects that you often neglect because there has always been something more urgent.

Here are some that may have been overlooked: customer research, market analysis, brand updates, website redesign, new process implementation, and content maintenance.

By getting back to basics in an impasse, you set your brand for success when the economy opens up and demand returns.

  1. Participate and serve your community

Last but not least, you can combine all of the above strategies to put your brand at the service of your community. In the B2C world, we have seen many brands switch to hydro-alcoholic masks and gels. As a B2B brand, you can help your ecosystem by identifying your unique weaknesses and using your unique strengths to come up with a unique solution.

For example, at my company, we recently surveyed our users and customers to ask them what the biggest challenge is right now. Brands (companies and non-profit organizations) responded that they need help to increase their online sales. Consultants (agencies and freelancers) say they need to find new customers to accommodate the shrinking of their existing portfolio.

Happy to serve customers on both sides of the table – brands, and consultants – we came up with the idea of   helping them call each other to solve their respective problems.

Let’s wrap up

Crises lead to sudden changes, break things and test us. Recessions also shake the deck and allow us to play another hand; It is no different, and the five B2B marketing strategies presented in this article are a great starting point for marking opportunities in your favor.