What Small Businesses Can Expect To See In 2022 And How A Marketing Strategy Can Help

However, many of these changes have either been predicted or implemented far too late. The environment we live in today is considerably different than the one we lived in at the beginning of 2020. The beginning of 2020 was filled with fear, doubt, and uncertainty whereas today, we have a far better understanding of the pandemic, the recourse for businesses, and its economic impacts. With this new knowledge and information in hand, this article will explain some of the problems that small businesses can expect to see in 2022 and how a marketing strategy can help.

Market Environment and the Economic impacts of COVID

The economic impacts of COVID-19 have undoubtedly been overwhelming negative for most small businesses. Many businesses were forced to shut down and re-open, then shut down and re-open again in line with the lockdown regulations from every state. This has caused extreme uncertainty and fluctuations within the small business sector reduced sales margins and the closure of thousands of businesses. Consumers have often unable to leave their homes to purchase goods and services they otherwise would normally, thereby causing a direct hit to small business profits and revenue. Many small businesses were forced to reduce their workforce and lay off employees resulting in higher unemployment rates, reduced productivity and less money circulating in the economy.

Reality Post-COVID

Now this is dependent on the fact that we will ever have a ‘post’ COVID. However, when referring to post-COVID it’s important to acknowledge there will come a time where consumers and markets are not dominated by the virus. When that time comes consumer spending habits will see a very likely surge.

Throughout lockdown, consumers have been forced to spend differently, purchasing a variety of goods online rather than in person. Therefore, the small businesses that already had an attractive and easily accessible online platform for selling their goods performed comparatively better financially than businesses that did not already have an online presence.

The reality of post-COVID is that consumers will very likely be looking to go out and spend their money which they were unable to during lockdown. Sectors such as retail, hospitality, and travel industries will come back into favour with consumers and likely experience a big increase in sales and revenue.

How to Plan for 2022

Traditional marketing and social media marketing methods will likely return to their status as popular marketing methods in 2022. However, the consumer trends that have seen success in 2021 businesses will need to be examined closely to improve the likelihood of your business succeeding in 2022. These trends include creating value that authentically connects with customers as well as aligning marketing and finance.

The marketing strategies your company chooses to adopt to prepare for the post COVID-19 environment are crucial but can only work by allocating the right resources to fuel your marketing objectives.

Our lives post-COVID 19 will remain changed forever and small businesses need to ensure they adapt to those changes in order to survive in this new environment. Marketing is a never-ending process and requires consistent and continuous dedication for every business. Companies should also keep in mind that flexibility and agility when it comes to marketing methods and strategies is vital for business growth and success during these uncertain times. For ideas to help develop your marketing strategy, why not read the small business cheat sheet to developing an effective marketing strategy for a small business on a budget.

If your business needs advice regarding your marketing strategy or a consultation, get in contact with our marketing team today.