Launching a new brand at any time is hard. Launching during a major crisis is even harder.
Can you move forward with a brand launch when your audience is facing hardship? You absolutely can. You’ll need to be more strategic about the way you introduce your products or services, though.
Listed below are some of the best strategies for launching a brand during a crisis.
Focus on Essentials
Are you still trying to figure out what kind of product or service you want to offer? If so, use the current climate as inspiration. Whatever crisis your target audience is facing, it’s important to think about what they need.
Remember, people are usually more conservative with their spending during difficult times. You’ll need to make sure your product or service is something essential (like hand sanitizer during the COVID-19 pandemic), something they’re willing to invest in even when their money is tight.
Seek Out Funding Early
Even during crises, investors are still willing to give money to startups. However, you might have to meet with more people than usual to find someone willing to provide you with the money you need to get your business up and running.
Start working on your pitch and seeking out investors as soon as possible. Make sure your pitch clearly explains why your business is essential, as well as the benefits that your products or services have to offer to folks who are struggling.
Get Online
When times are tough, folks tend to spend more time online. The COVID-19 pandemic has been the perfect example of this. Online shopping skyrocketed in 2020 (we’re talking an 18 percent increase in sales in the U.S.), and it’s not showing any signs of slowing down.
If you want to successfully launch and promote your business, it’s imperative to establish an online presence. Do this as early as possible so you can build an audience and get people interested in what you’re offering.
(P.S. This is one of Baam’s specialties. If you’re interested in learning more about how we can boost your brand online, you can fill out the form below.)
Build Trust
In addition to building an audience and piquing people’s interest, you also need to work on building trust with your audience. If people view you as a credible source, they’ll be more inclined to buy what you’re selling.
To build trust with your audience, make sure you’re both showing them how much you know (educating and sharing facts) while also giving them a chance to get to know you and the other faces behind your brand (sharing stories and relating to them on a more personal level).
Consider Offering Discounts
Finally, when you do launch your brand, consider starting with a discount or promotion. This is especially helpful if you know that your target audience is working with a tight budget. Temporarily lowering your prices or offering a discount will get them in the door and convince them to give your brand a try.
Are You Ready to Launch Your Brand?
Launching your brand during a crisis is not only possible, but you can be highly successful if you have the right product or service combined with the right strategy. Just remember to follow the strategies listed above.
I look forward to hearing about your business’s future success!