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04.3.20

How to Weather the Fear: Coronavirus Recommendations

Epicosity Staff

While most FIs are either doing nothing or continuing to market like nothing has happened, your brand can take a different approach. Don't give into fear; utilize the tools at your disposal to adjust to the times and make a difference in the market.

WHAT SHOULD YOU DO?

So what can you say right now that’s helpful? When is a good time to inject your FI into the conversation? We’ve put a few thoughts together in hopes of giving you a starting point on what to do next. We sincerely hope you find it helpful.

 

UNDERSTAND CONSUMERS' STATE OF MIND.

Think about peoples’ emotional state of mind right now. If people are afraid, now’s not the time to pretend they aren’t. It’s also not the time to market to a state of fear or panic. Getting this wrong could severely damage your brand’s reputation.

 

FOCUS ON YOUR BRAND.

What are some of those marketing or branding projects that have been on the back burner? Now’s a good time to tackle some of those things. Get your brand in order so that when things return to normal, you can hit the ground running.

 

MAKE SURE YOUR COMMUNICATION IS CLEAR AND USEFUL.

Talk about how people can safely do business with you online or through your app. Push mobile deposits. Offer tips on how people can protect themselves from financial catastrophe.

 

PROMOTE TECHNOLOGY.

Social distancing reinforces how important your online presence is. Use it to your advantage.

 

Use the power of video.

Yes, there’s a lot of noise out there. But your customers want to hear from you. They really do. Video is powerful anytime. But now more than ever, it’s the only way to get some face time with your customers.

You have a video camera in your phone. It doesn’t have to be fancy, but it’s a great time to add personal videos to your social channels. If you need help or want to add branded graphics, we’re here for you.

 

A FEW IDEA STARTERS FOR VIDEO

Home Alone

Do you have team members working from home? Have everyone send in a video of their home office setup that can be compiled into a quick and fun video to show the human side of your business. Or have them show their morning commute from bedroom to kitchen table. You get the idea.

 

Follow The Leader

Have some prominent faces that are going unseen during quarantining? Have them do video selfies where they talk about what they’re looking forward to when things return to normal.

 

Have Some Fun

With most of peoples’ energy being consumed with COVID-19, it might be a welcome distraction to remind people it’s okay to have fun at a time like this. Use video to introduce a trivia contest. Show creative ways your team is making the best of the situation. Now more than ever, people need a reason to smile. 

 

Change your marketing plan. NOW.

Face it; sales shouldn’t be a priority right now. Instead of pushing mortgages, HELOCs and auto loans, use the time to protect your brand and offer support any way you can. Use digital media more than ever so your brand voice doesn’t go silent. With more people staying home, also consider TV as a great way to put yourself out there.

 

Consider community.

What can your FI do to help people in need? Consider waiving any fees you charge. Make a donation to a local school or charity. Whatever you can do, you should. Your brand will win in the long run.

 

BREAK THE FEAR CYCLE.

These are certainly strange and difficult times, but your FI can be a beacon of hope, help, and encouragement as we navigate these uncharted waters. Don't give into fear, and don't bury your head in the sand and go about marketing as usual like nothing has happened. Adjust to the times. You've got this. Team Epicosity is here for you. We've got your back.

 

Do you have more questions? Feel free to contact us. We're here for you!