As we approach the end of Lockdown Mark III, the government believes that the UK economy will bounce back like a ‘coiled spring’. The question is, are you ready for a return to normality, what are you doing to prepare yourselves and have you got their marketing strategy in place to maximise opportunities? If not, now is the time to take action before it’s too late.
The Bank of England suggests that consumer spending is set to surge with that the British public having saved as much as £250 billion while being locked up. Restaurants, pubs and bars are the likely immediate benefactors as well as UK holiday providers, but all these industries have suppliers and employ people who, who when earning again, will look to treat themselves after months of curtailment.
We have talked earlier about the importance of maintaining a marketing presence during lockdown and have an excellent case study of Combermere Abbey, one of the region’s leading wedding venues and accommodation providers, on how they managed it so well. The case study shows how the business was forced to close due to the Covid restrictions but rather than twiddle thumbs, took proactive measures so they were well placed to take advantage when the lockdown was lifted.
Businesses preparing for the lifting of what is believed to be the ‘last lockdown’ should also consider how the economy has been permanently altered since March 2020. Consumer spending habits, lifestyles and trends have been shifted online, people have adopted new hobbies and outlooks, and it is hard to see how the high street can bounce back without innovation or embracing more digital opportunities.
It is not just the hospitality and retail industries that is expected to bounce back, but house builders and construction industries are also likely to benefit as people look to either move home or make renovations following months of being in lockdown. A report from our client Miller Homes suggests that lifestyles have been changed by the pandemic with more home working or a demand for more outdoor space. These new ways of living and working present clear marketing opportunities.
The use of social media has also grown significantly as users feel that they have a safe space to interact, be entertained, distract themselves, and find inspiration without any risk of contagion. July 2020 saw a rise of 10.5% in social media usage, compared with July 2019, according to a GlobalWebIndex survey. Some 46% of women and 41% of men said they’ve spent more time on social media during the pandemic, making it the second-most popular digital activity.
Businesses should alter their marketing approach to reflect this and have a marketing and social media strategy in place that maximises the opportunities presented. It’s likely that the space will remain competitive and it will be the brands that have relationships with their customers and who are able to excite, entice and engage that will come out strongest.
If you’re looking for a PR or marketing strategy, the team would be delighted to have a chat to understand where you are, what the vision is and to help pull plans together so you can get there. The end of the ‘last lockdown’ is fast approaching, make sure you are ready like a ‘coiled spring’ to take your opportunities.