A famous advertising adage amongst marketing service providers is: “nothing will make a client fail faster than good marketing.”
As you face the COVID-19 crisis, you do need to make sure your team is not spending on marketing until you're confident that the basics of your business are under control.
Marketing Should Not Be A Priority Until:
You have ensured the safety of your staff and customers
Established a clear cash flow runway
And secured your supply chain
In the current Covid-19 crisis one of the common marketing missteps is sustaining spending on marketing against non-existent supply chains. So, at risk of stating the obvious... if there's no product to sell, it doesn’t make sense to promote it.
If you watch TV tonight, notice the number of ads for categories that will have no current relevance or consumer interest. For example, as recently as last week there were still travel ads for overseas destinations, even during a travel ban.
Before you think this couldn’t possibly apply to your business, you may want to ask your agency (if you have one) if they have any Google Ads or digital campaigns scheduled against products and services you can’t possibly deliver right now.
You may be surprised by how much spending has been wasted.