Category: Business

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Business Marketing

COVID-19 and Outdoor Recreation

COVID-19 and Outdoor Recreation

 

COVID-19 and Outdoor Recreation. How does it effect you? As the U.S. continues to face the COVID-19 pandemic, people are looking to outdoor activities as a solution to staying occupied and healthy amid social distancing mandates. Research shows that consumers are shifting discretionary spending away from typical summer travel plans and focusing instead on family-oriented outdoor activities. As a result, several outdoor categories have experienced exponential growth in recent months.

While the sports & outdoor industries typically see increased activity during summer months, this year those numbers have skyrocketed. Top retail websites like Dicks Sporting Goods, Academy, Cabela’s, Bass Pro, and Camping World collectively saw an 86% year-on-year increase in May 2020. With consumers increasingly seeking outdoor activities, sales of bicycles, boats, water sports, and camping gear have exploded.

Boating

With many summer vacations canceled, the boating industry experienced a major peak in interest to get out on the water. According to the National Marine Manufacturers Association, 70 percent of boating dealers reported they experienced significant sales growth in May 2020, the strongest number recorded since July 2018. Personal watercraft sales have spiked by 75 percent compared to May 2019. Boating has given consumers a way to get out of the house and enjoy summer days on the water while still maintaining social distancing recommendations.

Paddle Sports

Before COVID-19, the paddlesports category such as kayaks, paddleboards, rafts, and canoes experienced a decline in sales. From an inventory management standpoint, these expensive and bulky products typically gave retailers a challenge for making sales. With consumers looking for family-based activities, these products have been selling at unexpected speeds. In recent months, Google searches for water-related products increased by 70 to 100 percent. And in June 2020, sales of water sports products increased 56 percent compared to the previous year.

Cycling

The cycling industry experienced significant growth soon after the stay-at-home order was announced in the United States. In June 2020, bicycle sales were up 63 percent compared to the same time last year. Most sales were generated from family-friendly bicycles during the early months of COVID-19. In recent months, the industry has seen an increase in full-suspension mountain bikes and road bikes. This is believed to be attributed to the shortage of family bikes, along with people taking up cycling as a more permanent hobby.

Camping

The camping industry has recently experienced a surge in performance due to the increasing consumer interest of backyard adventure. In June 2020, sales increased by 31% as more people camped at local destinations or even their back yard to spend quality time with family outside of the house. Recreational tent sales grew almost two times as fast as backpacking tents, which are typically purchased by serious campers. This indicates that as camping continues to grow in popularity, the family recreation niche could be a major boom to the industry. Offering more affordable equipment to new campers will also provide value during current economic uncertainty.  

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Business

Innovation During an Economic Downturn

Innovation During an Economic Downturn

If the current economic downturn is crushing your entrepreneurial hopes and dreams, there is good news for you – history has shown that a recession can provide a significant opportunity for innovation during an economic downturn. 

By developing an innovation strategy that foresees a recession, you can help your business survive the hard times as well as find profitable ways to gain a competitive edge. This means going from defense to offense to secure a stronger position in the market.

The Shift to a Low Touch Economy

The COVID-19 pandemic has affected businesses across the world. The US economy has already seen a decline in Q1 and is headed towards another decline in Q2 of 2020. At this time, it is impossible to predict exactly how this health crisis will be resolved and how it will affect the economy long-term.

However, economists have already validated a socioeconomic shift in our country. This has been seen through an increase in remote working, higher demand for e-commerce and home deliveries, an increase in E-health systems, and higher attention for hygiene. This hyper-digital society brings fewer people physically together and has changed safety standards for day-to-day public interactions.  

This behavioral shift is referred to as the Low Touch Economy and is believed to be our post-pandemic economy. Enterprises should take this opportunity to pivot in their business model and innovate to gain a competitive edge on the market.

Innovation during previous economic slowdowns

Amazon

In 2009, Amazon experienced a 28% sales increase during the Great Recession. Amid the slumping economy, Amazon continued to innovate with new products, primarily with new Kindle products. On Christmas Day of 2009, Amazon customers purchased more Kindle e-books than printed books. Amazon innovated during a recession to grow its market share by introducing a lower-cost alternative for cash-strapped consumers.

Mailchimp

Mailchimp originally catered to large corporate clients with yearly retainers. In 2009 during the Great Recession, Mailchimp was forced to change its previous model. The company decided to add a freemium business and its user base skyrocketed from 85k to 450k users in a single year.

Airbnb

In 2007, Airbnb had a humble beginning when Brian Chesky and Joe Gebbia had the idea of renting out an air mattress in their living room in San Francisco. When the Great Recession began the following year, it opened a door to a new opportunity. Airbnb revamped the market of short-term living quarters who were priced out by hotels. In the year 2009, Airbnb received funding from top venture capital firms and experienced exponential growth.

Apple

In 2003, when the Dow was at historical lows over 10 years, Apple continued to invest. When asked why he had not reduced research spending when others in the industry had experienced a slowdown, Steve Jobs stated, “What has happened in technology over the last few years has been about the downturn, not the future of technology. A lot of companies have chosen to downsize, and maybe that was the right thing for them. We chose a different path. Our belief was that if we kept putting great products in front of [customers], they would continue to open their wallets. And that is what we’ve done.”

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Business Marketing

Advertising During a Recession

The novel coronavirus has spurred an economic shutdown across the globe. As businesses slowly begin to reopen, there is much uncertainly as to how our economy will respond and if the United States is headed towards a recession.

It can be difficult to remain calm when a recession hits, but history shows brands that continue advertising and marketing during a recession come out stronger in the end. Numerous studies that go back decades point out the advantages of maintaining and even increasing advertising budgets during an economic slowdown. Companies that maintained or grew their ad spending saw an increase in sales and market share during the recession as well as afterwards.

Cereal

During the Great Depression, Post cereal (the industry leader in the 1920s) significantly cut its advertising budget while Kellogg’s cereal doubled its advertising spend. Kellogg’s invested heavily in radio advertising and introduced a new cereal called Rise Krispies, featuring the “Snap” “Crackle” and “Pop” campaign. Kellogg’s profits skyrocketed by 30% and secured the company as the new dry cereal industry leader, a position they would hold for decades to come.

Automobiles

In 1973, America experienced a 17-month recession brought on by the energy crisis. When the U.S. government issued its first miles-per-gallon report, Toyota Corolla ranked second to Honda Civic in fuel efficiency. With Toyota already experiencing strong sales, the impulse was to cut advertising spend when the recession hit. Instead, the company resisted this urge and stuck to its long-term advertising strategy. As a result, by 1976, Toyota surpassed Volkswagen as the top imported car manufacturer in the U.S.

Fast Food Restaurants

During the 1990-91 recession, McDonald’s dropped its advertising and promotion budget while Pizza Hut and Taco Bell took advantage of this decision by ramping up their advertising spend. As a result, Pizza Hut increased sales by 61%, Taco Bell grew sales by 40%, and McDonald’s sales decreased by 28%.

“Rather than wait for business to return to normal, top executives should cash in on the opportunity that the rival companies are creating for them. The company courageous enough to stay in and fight when everyone else is playing safe can bring about a dramatic change in market position.” – Dhalla, Harvard Business Review.

Common misconceptions for cutting advertising in a recession  

  • Advertising would be wasted because people do not have money.
  • Competitors are slashing ad spending, so we should do the same.
  • Money saved on ad spend can help pay dividends.

Reasons to advertise during an economic slowdown

  • The ‘noise level’ in a brand’s industry can significantly drop when other competitors cut back on their advertising spend.
  • Continuing to keep your brand in front of consumers gives the sense of company stability during difficult times.
  • The cost of advertising drops during a recession which creates a ‘buyer’s market’ for businesses.

During an economic downturn, the best course of action is to protect your brand’s investment. To do so, businesses must safeguard the equity accrued through their marketing and advertising efforts. If companies slash their advertising budget and go dark during a recession period, the cost to regain a share of voice in the market once the economy recovers may cost much more than the ad budget cuts initially saved.

As a popular adage states, “When times are good you should advertise. When times are bad you must advertise.”
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Business Digital Marketing

How to Drive Quality Traffic to Your Website

Website traffic is an important indicator of business performance. It can help determine how well your marketing is working, gather insights about your audience, generate leads and increase conversions. To achieve this, it is important to make sure your business is driving traffic to your website the right way by focusing on attracting quality traffic.

There is no one set-it-and-forget-it tool that can be used to generate high-quality traffic. Instead, it requires the use of multiple channels, creative strategies, and close monitoring of website performance to determine what avenues are providing the best return for your business.

Social Media Ads


With over 3 billion active social media users around the world, it is a no-brainer for businesses to utilize this channel for driving traffic to their site. To maximize website traffic conversions in a crowded social media space, businesses must make sure their ads are seen by the right people.

Facebook Pixel is an extremely useful analytics tool that allows you to measure the effectiveness of your social media advertising. By placing the pixel code from Facebook to your website, you can measure the actions taken on your site and tailor your ads to be more relevant to your audience.

Google Ads


From display ads to paid search, Google ads are a highly effective tool for driving traffic to your website. To attract quality traffic that converts, it is imperative to target high commercial intent keywords as part of your paid search strategy. While the competition for these search terms can be high (and often expensive), the payoff can be well worth it.

Re-Targeting Ads


Re-targeting ads are an excellent way to direct traffic back to your website to complete a conversion. These ads focus on people who have already visited your website but have left your site without completing a sale. Using re-targeting ads is a great way to aggressively market to those people via Google’s search engine and social media shortly after they have left your website.

Instagram Shoppable Posts


A recent study found that over 72% of Instagram users have purchased a product on the app. With such high engagement, Instagram has become a widely used channel for business promotion. Instagram has introduced a new feature for e-commerce stores to create what is called a ‘Shoppable Post.’ This gives businesses a way to tag images on Instagram with individual product links, making it easy followers to shop your website directly from your post.

On-Page SEO


If you think SEO is dead, think again. Optimizing your on-page website content for search engines is still a very valuable practice. To boost traffic organically, make sure you are making the most of meta descriptions, image alt text, and internal links to new content. It is also important that your content is captivating to users. All website blogs should include an enticing title that will pique readers’ interest. These on-page SEO strategies will help make your content more clickable, shareable, and even make it rank better in Google’s search engine results, ultimately increasing website traffic.

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Business eCommerce Marketing

Marketing in the Covid-19 Age

To say that 2020 is a unique time for businesses around the world is an understatement. There is no playbook for a health crisis such as COVID-19. This global pandemic has significantly altered consumer behavior and attitudes, ultimately changing the way people interact with your brand, find your site, and access your products. The ever-changing cultural window of COVID-19 is requiring brands to create at significant speeds just to keep their content relevant to the consumer.

Challenging times like these require marketers to be extremely nimble and develop an actionable plan to optimize business performance. This is where smaller, more agile agencies such as Spectruss have the upper hand. At Spectruss, we have the ability to quickly pivot in our marketing strategies to help businesses adapt in changing circumstances. By closely monitoring data, our team can test, learn, and adjust in real time to ensure your brand messaging remains relevant and your advertising efforts are correctly allocated.

As a marketing agency who has worked closely with brands during this time, we have found that businesses who quickly adapt their messaging, digital, and e-commerce strategies set themselves up for success. During this time of social distancing, our team implemented new digital solutions for our clients, allowing them to continue to serve their targeted audience in a unique way.

Social Media Campaigns

With the stay at home order sweeping the nation, cosmetic surgeons and medical spas were drastically affected, as they rely on face-to-face consultations with patients. For one of our clients, Refine Aesthetic Studio, we launched a social media campaign that offered virtual consultations for their clients. Utilizing digital technology gave the studio the ability to continue to help their patients, even with their office doors temporarily closed.

E-commerce

As consumers stay home and shift their shopping habits towards online, it was imperative to quickly provide an e-commerce solution for our client, The Furniture Shoppe, a high-end furniture store in the Chattanooga area. Our team took immediate action towards building a beautiful, functional e-commerce website which significantly increased the store’s online presence. This not only gave our client a solution to continue sales during the lockdown, but also created a platform that would maximize their revenue intake for years to come.

During this constantly evolving time of consumer behavior, it is imperative for businesses to quickly adapt. While we all hope that things go back to “normal” soon, companies must be prepared for the lasting impact on the consumer landscape. Brand messaging, digital, and product strategy may need to significantly evolve in the post-COVID-19 age.

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Business eCommerce Marketing

Why Web Analytics are Crucial for a Successful Business (Video)

A strong online presence is crucial for the growth and success of your business. So how do you ensure your website is performing at its best and you are getting the best possible ROI on your digital marketing efforts? It all starts with web analytics.

Tune in to the video below as CEO of Spectruss, Sam Silvey, discusses the importance of website analytics, the key data to focus on, and how you can use it to prove a return on investment for your business.

The Best Platforms to Use

Over 55% of the top 10,000 websites in the world use Google Analytics, making it the most highly recommended data measurement platform for businesses today. Not only is Google Analytics free to use, but it also gives your company the ability to analyze in-depth details about the visitors on your website.

In addition to Google Analytics, HubSpot is another extremely useful analytics tool that manages tracking codes to collect important website user data. By bringing all your Google Analytics and HubSpot data together, you can analyze and report across the entire customer journey, ultimately allowing you to devise a successful strategy for your business.

Know the goal for your website

As mentioned in the video, the goal for your company website is to direct traffic towards your call-to-action, whether that be filling out a contact form, buying a product, or clicking a phone number. Once you have a clear call-to-action for your website, your company can then move towards maximizing conversions.

After you have identified your call-to-action for your website, you must then discern how much that conversion is worth to your company. Known as a conversion value, assigning a numerical value to specific conversions is crucial for determining their impact on your business. This gives you the clarity to optimize and make decisions based on real ROI data.

Understand your website traffic

Monitoring the traffic to and on your website helps your business better understand your online visitors, potential customers, and interactions with your site. Google Analytics is a great platform for tracking this important data, giving your business the ability to pinpoint exactly how your website is performing, and in what areas it can be improved.

In order to make your website more successful, you must first analyze how traffic navigates on your website. Tracking data from product purchases, abandoned shopping carts, bounce rates, page clicks, and session duration gives your company a clear picture of where the drop off is on your site, what content your potential customers are looking for, and where you want to spend your ad budget to drive more traffic.

Collect data from mobile, tablet and desktop

With content consumption drastically increasing on mobile phones, it’s more important than ever to ensure that your website is optimized on all devices. In fact, we are now seeing up to a 60% conversion rate take place on mobile phones. Comparing conversion data from mobile, tablet, and desktop versions is extremely important for reviewing inbound traffic and identifying the success or failure of how your website is performing across all devices.

Manage advertising spend to identify what converts best

Now that you have been collecting and analyzing data, it’s time to start advertising to drive more traffic to your website. Return on ad spend (ROAS) is one of the most important metrics for digital advertising. Essentially, ROAS answers the fundamental marketing question, “If I put X amount of money in a marketing channel, what will I get back in return?” Using the website analytics collected from your digital ads helps you to know if your ad budget is actually providing a return on investment.

If you’d like to learn more about how to make your website perform the best it can and really prove a return on investment, give us shout! We’d love to talk with you.

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Business eCommerce

What E-commerce Platform is Best for Your Business? (Video)

In this new digital age, many companies are shifting their focus towards selling products online. In order to maximize your online success, choosing the right e-commerce platform for your business is one of the most important decisions you will make.

Watch in the video below as Sam Silvey, founder and CEO of Spectruss, discusses the best solutions for building your e-commerce business.

As Sam described, there are many ways to move your business online. With so many e-commerce platforms available in today’s market, choosing the right one for your business can be challenging.

Our Experts at Spectruss Recommend:

As mentioned in the video, WooCommerce uniquely offers the capability to build on top of WordPress – which accounts for 60% of all content management systems. WooCommerce offers complete website control, source code ownership, and customization options that other platforms simply do not have. With over 3.8 million companies using the WooCommerce platform, it’s clear that this is the preferred choice.

For companies looking for a more affordable option with less barrier to entry, Shopify is the recommended platform. Shopify boasts over 500,000 active online stores, accounting for over 20% of all e-commerce websites. In addition, our experts at Spectruss can launch new websites using this platform in as little as 72 hrs (with rush delivery request). However, businesses using Shopify are limited to the platform’s themes, plugins, credit card processing system, and hosting fees. Despite the limitations, this platform remains a good option for budget-friendly businesses looking to launch a store quickly.

Platforms such as SquareSpace and Wix are advertised as cheaper options, but these platforms are limited in their functionality. For example, Wix promotes itself as a free, self-build website platform – but we advise caution. The fees to unlock “premium features” that come standard on professional platforms can be significant. In addition, lower visibility and website traffic due to subpar design may cost thousands in lost revenue. According to our CEO and founder of Spectruss, “I would personally not invest in Wix or SquareSpace”.

While some may choose to cut corners with self-build websites, smaller platforms, and less secure software, this approach can create problems in the long run. Building an online presence that maximizes your ability to reach customers, grow your business, and offer a seamless user experience is critical for a return on investment and long-term success .

In short, if you are looking to start a new e-commerce site, or looking to update an existing site, Spectruss suggests building with WooCommerce or Shopify. If you need help designing and developing your e-commerce site, our experts at Spectruss are ready to help. Give us a shout at 423-800-8633 or send us an email at info@spectruss.com to schedule a free consultation.

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Business Digital Marketing

Showcase Your Business Online

Yes, we are open and we are here for your business during this difficult and uncertain time. Our heart goes out to all of the doctors and nurses working tirelessly to fight this virus, the grocery store clerks and truck drivers working overtime to keep our shelves stocked, and the many businesses who have closed their doors in an effort to stop the spread of COVID-19.

We believe your company can continue to prosper and your mission advance amidst this virus pandemic. During this time of social distancing, it is imperative that businesses adapt to serving their valued customers with digital options.

Now is the time to showcase your business online.

And we are here to help you do it.

If you don’t currently sell online, it’s time to start now. We can promote your products online with our flexible e-commerce platforms, giving you the ability to sell 24/7. Whether your business would benefit from platforms such as Shopify, WooCommerce, or Facebook Marketplace, our experienced team can provide you with online selling options that will continue sales and serve your valued customers from the comfort of their home.

During this current situation, we have seen a significant rise in digital advertising to drive sales online. If your business already sells online, it is more important than ever to implement advertising strategies that will increase your online visibility and drive traffic to your e-commerce website.

Whether your business needs an e-commerce website, digital advertising management, or council on next steps to take, our dedicated team of experts is here for you. Schedule a free consultation with us today!

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Business Marketing

5 Tips for a Successful Black Friday

The holiday season is here and businesses everywhere are gearing up for the busiest shopping day of the year- Black Friday. Over 74 million Americans shop on Black Friday (if they were to form a country, it would be the 20th most populous on Earth!) Is your business ready?!

With so many stores offering huge deals on Black Friday, it can be difficult to stand out against all the noise. However, incorporating a few simple strategies can help your business provide an excellent Black Friday experience and leave a lasting impression on your customers.

Staff well

The crowds….the lines. We all know what this national shopping day is like. Make sure you have plenty of staff to get your customers through the checkout lines quickly. If your store is understaffed, it will be a very long and frustrating day. Black Friday shoppers are expecting lines, but your store can offer a refreshing experience by being extra organized and efficient.

Make it fun

Black Friday is a long and busy day for your staff, so make it fun by bringing in lots of snacks and goodies for the break room. You can even offer contests and prizes for meeting goals at the end of the day. Making it fun for your employees will help to create a positive atmosphere which will translate to a great customer experience with your store.

Keep your store looking extra special

According to a recent study, foot traffic to big box stores is expected to increase by 34% this year. Many small and medium retailers located near these stores could expect a spike in traffic as well. It is important for your businesses to prepare for this additional traffic by making sure your store looks in tip-top shape. Bringing out your latest merchandise, sprucing up your window displays and keeping things in order throughout the big day will be sure to leave a great impression on your customers.

Don’t try to compete with the big box stores

Let’s face it, the retail giants will always be able to offer bigger and better deals on Black Friday. Trying to compete with the big stores will only hurt your business by eating up all your margins. Instead, your business needs to focus on what those box stores can’t offer- a personal experience. As a smaller business, putting community and family values first is essential for generating loyal customer relationships. So, don’t bother opening on Thanksgiving because your customers will appreciate your businesses more for staying closed on the holiday.

Offer coupons with future dates

With the influx of traffic to your store on Black Friday, it is important to implement a strategy to encourage those shoppers to keep coming back. A great way to do this is by handing out coupons to customers at checkout. Be sure that those coupons are dated for a week or two in the future. This will bring shoppers back to your store during a less rushed time and could lead to long-term customer relationships.

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Business Digital Marketing

5 Quick Tips for Mobile-Friendly Email Campaigns

If your emails aren’t mobile-friendly, you could be missing out on a huge opportunity to engage your subscribers and drive conversions. A recent study shows that 67% of all emails are now opened on mobile devices. In order to grab the attention of the modern day consumer, it is imperative to tailor your emails for smaller screens and scrolling fingers. Check out these key tips to ensure your emails are optimized for mobile viewers.

1. Short Subject Lines

47% of email recipients decide whether to open an email based on the subject line alone. If the subject is too long, it can get cut off on a mobile screen and disrupt the opportunity to connect with your reader. A mobile device only shows 25-30 characters of an email subject line, so it is imperative to be concise with your wording.

2. Single Column Layout

On a mobile device, multiple columns in an email often look too busy and can be confusing for the reader. Using a single column template will simplify your design and highlight your important content. It also makes the email easily scrollable, keeping your call-to-action in direct line of sight.

3. One Clear Call to Action

Emails that contain a single call to action (CTA) can increase clicks 371% and conversions 1,617%. To receive the maximum amount of clicks on a mobile device, it is important to keep a CTA to 2-4 words, use a higher contrast button color, place CTA towards the top of the email, and size the button to at least 44 x 44 pixels.

4. Concise Copy

Too much copy in an email can be overwhelming and boring to look at, especially on a mobile device. Use bulleted lists and short paragraphs to create easily scannable content for the reader. It is also important to increase the size the text to avoid people needing to zoom in to read the information.

5. Space to Click

Mobile screens get crowded quickly. If you stack links and CTA’s too close together without leaving enough space around them, recipients can accidentally click the wrong link. To keep this from happening, make sure to leave plenty of room to click, keep links to a minimum, and avoid stacking them.