What now? Should I just stop

During this time of crisis, I can safely say: I am worried. These are strange times unlike anything we have experienced before, but as the optimist I am, I know the economy will eventually improve. The financial crisis has time, and time again has shown that there will be winners and losers. Might be time to ensure you’ll be on the winning side?

There is a strange reduction in marketing spending for some companies I have seen. Coca-Cola Norway cut all their marketing spending for April. Do people not drink Coca-Cola nowadays? I know restaurants have shut down and it accounts for a fair share of their income, but is it a good move to cut the entire marketing budget? As I see it, this is stupidity for a company as profitable as Coca-cola. Isn’t this a golden opportunity to show that they are the Cola for good and bad times? I get why companies that are forced to shut down, stop advertising but is this not an opportunity to take leadership on platforms and even test out something new?

TikTok has experienced huge growth in popularity among users. They have become home to the “challenges”, where everyday people post videos of themselves doing different things they have been challenged to do. Mostly dancing, but if we were to be surveilled, that just means the reach of our videos grows. Time to try it out maybe?

And then you have Facebook, Instagram, and Twitter that all have experienced high growth in usage of their service, but seeing their revenues slide. Drop-in demand - drop in price. Increased activity - higher reach. If you happen to have the liquidity for it and open a business, these times can be the optimal opportunity to position your business for growth with an edge over your competitor, when we return to the new normal.