Leads are the New Currency
During the pandemic, the main focus of businesses has been to improve customer loyalty. This means businesses have been dedicating the majority of their efforts to retain current customers and strengthen existing relationships. But, the focus is about to shift.
As we begin to move towards post-pandemic recovery mode, the majority of advertisers are shifting their focus to customer acquisition. This means they’re looking for qualified leads, email database growth, and traffic to their site. They’re realizing they’ve done as much as they can with their current database of customers. Now is the time to get new customers; now is the time to try and get your competitor’s customers.
What’s the answer to finding new customers? Promotions.
Leads are king as businesses try to reopen, and promotions are your number one way to deliver them. When you’re able to offer a sure-fire way to deliver a lead list to a local business, it will give you not only the ability to retain your current advertising partnerships, but you’ll also be in a strong position to win new business.
Promotions are Gonna be Really, Really Big
When I spoke with Gordon at the Second Street Summit in June, he shared their data about how they envision the rest of 2020 will play out. Depending on where you’re located, your community could be on a path to a slow and steady recovery, or you might be dealing with even more lockdowns.
But when it comes to what your advertisers need – none of that really matters. Regardless of which scenario you’re in, the result is the same. Promotions remain front and center for solving your advertisers’ problems.
If the economy starts to bounce back, promotions will attract new customers to reopened businesses. In the case that lockdowns are still prevalent through the holidays, promotions will drive customers to online stores and purchases as shopping shifts more to ecommerce.
“Promotions. Promotions. Promotions. No matter what scenario occurs, it is going to be critical to generate leads.”
You Need to Prepare NOW
Do you have a plan to take advantage of the impending promotions boom? Local businesses need help now more than ever. If you don’t have a solution for them, they’ll go elsewhere.
Now is the time to start reaching out to businesses. You need to start building proposals and developing plans with advertisers. Show potential advertisers how you plan to deliver measurable results like qualified leads, email database growth, consumer data, or increased site traffic.
As Gordon explained, now is not the time to have a wait-and-see attitude. As their advertiser data consistently shows, it doesn’t matter how this downturn and recovery play out. When it comes to solving advertiser challenges, promotions are always the right solution.
Editor’s note: Interested in hearing the whole conversation between Matt and Gordon? Watch it here. If you want to get your own copy of this slide deck with all the accompanying Borrell Associates research, download it here.