The Five ‘P’s Survival Plan

PRODUCT, PRICE, PLACE, PEOPLE, PROMOTION

All businesses run on a marketing plan based on the 5 ‘P’s. You may not have written the plan but in your head you will know all the above. You know your Product, you know the Price you can ask for it and it sells, you know the Place as in your shop, restaurant or bar, you know your clientele (People) and you know the Promotions that have worked.

BUT sadly Covid-19 has changed everything and what worked before probably doesn’t work now. Your plans will have all gone astray and you may be running around in a complete panic. Christmas your best time for sales is coming up and yet we don’t even know if we will be allowed to open our businesses.

I run a marketing agency called Marathon Media and my business is based on an alternative thesis for marketing of the 5 ‘P’s. They are Preparation, Planning Passion, Persistence and Pace to finish the Business Race and believe me I have struggled over the last few kilometres of a real marathon.

How can the 5 ‘P’s of Marathon Media help you during Covid-19? Well here’s a few tips.

Preparation

Stop for an hour, grab a coffee and consider your business. The usual preparation for Christmas this year is going to be completely different so instead of jumping around doing lots of things and trying to copy others and panicking-stop.

Put on some calm music, shut yourself away and get a note book. Ok re- assess your marketing plan. Look at the product you can sell and how you can sell it. List all the routes you can sell it on to your People as in customers and make sure all the platforms work and lead back to you. You may not be able to open your shop or restaurant so make sure your People know the alternative Place to Buy. Make a plan to Promote your products and what platforms you will use. You are going to have to tighten the strings so you may have to pull in a few forms of promotion and advertising. It is vital you assess what works and get rid of what doesn’t.

Prepare some great photos, prepare videos, think about how you can keep your relationship with your customers, and make sure your shop window is clear about how People can buy your products. You can’t do everything at once so list all you need to do. Think also about the Price now of your Products. You are going to have to be ‘mean and lean’ to survive so can you afford to discount? Everyone will be offering 10% off and really what happens for your January sale they will expect 30% off and can you afford that? Think of your Price in relation to your People. I suggest you offer something FREE that costs you little but is of High value to them. If you have old stock that you can’t sell during Covid-19 think of that or you may be worried you may have stock left over so something like. “Buy a Christmas cake and get a free box of mince pies”.

Planning

You are going to be busy Promoting your Product, so Plan a time schedule. Don’t spend all day on social media but put your Products on at the right time for your Person. In the evening people are scrolling the internet constantly so it is a great time and in the morning. Make sure you are using the local channels. Plan a week before and then the day before for each day and try to stay focused throughout. It is hard and you will need to be flexible but it will help you stay calm.

Plan how you will respond to your clients and ensure all the Promotion channels including your website, social media, telephone number and email are clear and work. Ask friends to look don’t just presume. Sit down and Plan for your Promotions for example whilst in Lockdown in November, plan for December and January allowing flexibility but at least consider it. Whilst you have time Plan to sit and read Google articles or online Linked In Webinars for your business. They are great to help you think outside the box. You shouldn’t sign up to anything just switch it off then. Take the freebies!

Passion

You love what you do and your Product. You love your Customers (People). No one is going to take your business away from you so build some resilience. How? Look after yourself and put on your own oxygen mask first or you cannot help others. Take yourself away from your business and go for a walk in the park or do some exercise. Eat properly though you may feel anxious and try to sleep. Do not stay around negative people or you will feel defeated. You need to be inspiring your Customers to buy and if they say I don’t need to buy for Christmas you need to have a nice response such as “This year we have to go the extra mile to make it more special for our family”.

Persistence

You will go down and will have bad times. I’m not talking here about the financial and staff side of your business; I recommend you get advice and support for that as I am focusing on marketing. You may need nerves of steel so again keep fighting. However, I am not advising you keep throwing money at advertising or Promotions that don’t work. Please be aware there are sharks out there preying on business and promising them more clients through digital media leading to increased online sales. This is very expensive so be careful and I talk from experience.

I highly recommend you read about businesses that have survived depressions too. We are often great at knowing about our business but sadly we don’t have the knowledge to deal with extremities in our life especially a Pandemic. Be inspired by reading other’s stories even such as Alan Sugar, Richard Branson.

 

Pace

This is very important and I believe it in two ways. Don’t burn yourself out so really take care of yourself to survive mentally and physically through this.

Also pace your expenditure out in relation to Promotion. You may have to spend to get clients to buy your Products, but budget for it and stick to it. Social Media is FREE but with the right advice you can use Face Book Advertising to boost your Products. You can easily do an advert for about £20 per week and hit about 4000 people if you do it specifically for your target market. If you are not sure how to do it then Google it. I saw an advert recently for a marketing company saying they would do it for £400! No necessary! It is about return on investment, so have a go with a very small amount and see how it works.

A small newspaper advert can be very cheap at present as people aren’t advertising and ask for a promotional article next to it. Newspapers are really struggling for income and a lot of people are reading local news to find out about Covid in their area. But again stick to your budget no matter how much the sales representative trys it on. Just ensure you have all the correct details on your advert.

I hope this article has helped in some way. Please sign up to the newsletter as I am going to be putting up more FREE advice about social media marketing, writing quality news article and how to sell up to Christmas with low cost marketing.

Thanks for reading and if it helps please offer a review

 

Diane

Leave a Reply