Written by Stankevicius MGM CEO, Paulius Stankevicius
About Stankevicius MGM
Stankevicius is a leading global advertising, marketing, and public relations firm that provides a wide range of advertising and marketing services to a substantial and diversified client base that includes corporations, financial companies, startups, and individuals. Founded in 2014, the firm is headquartered in Dubai, United Arab Emirates and maintains locations in Hong Kong, Helsinki, and Minsk.
About Paulius Stankevicius
Paulius Stankevicius is an entrepreneur and professional business developer who has also worked with Fortune 500 companies. Paulius Stankevicius has a large client portfolio in his background. His expertise is in public relations and advertising, business development and international trade. In early days, Paulius Stankevicius, was a Chief Design Officer for his early startup ventures. He has extensive experience in IT development as well. With over 500 client portfolios, Paulius Stankevicius is at a strong future for his marketing company, Stankevicius MGM.
Current market situation Q2 2020
2020 is the year of apocalypse and the most prominent economic crash since 2008. Businesses are shutting down, investors pulling their funds out in losses and brands getting crushed, and yet it’s just the first quarter of the year so far. How to survive the bearish markets, and how to keep the brand strong in front of investors and clients is the most important question of the year.
As of today there are over 2 million corona virus cases and close to 5400 cases in the United Arab Emirates including 33 deaths. Corona virus has affected global markets heavily. In March, 2020, Dow Jones Industrial Average had one of the largest single day drops in history.
Understanding the situation and getting mentally prepared
The markets are going down, your brand and your company are most likely going down as well in revenues and customer attraction. Regardless of losses, we need to understand that this crisis happened on a global scale, and there is nothing you can do about it. Even stocks of Fortune 500 companies and S&P 500 fall, and there is nothing that can save them. By adjusting to the global market situation mentally, we can at least minimally comfort our mindset by understanding that this crash is not affecting only us but everybody around the world.
Controlling the fall as much as possible
It’s inevitable that revenues and customer interest is falling and will continue to fall, even more, however, there is something you might be able to do to slow down the fall or perhaps also stop it. Even knowing that everything around us is crashing it doesn’t mean we should let it dive down and just adjust to reality. It is important to be aware of bearish markets, but it’s up to us if we want to let our businesses crash or not. Even if your company is losing customers and investors, there are still things you can do to stop that from happening.
Keeping a strong public image through public relations
PR is most likely the number one element every company should consider when dealing in crisis markets. Regardless of the company’s situation, PR can make things look better with less panic, giving more safety aspects to customers and investors. One of the most natural tricks that companies use in global crisis situations is sharing supportive thoughts through the media and discussing potential outcomes of the crisis through a professional business perspective. Even if your company is falling short, by going out, and facing the issues in public makes your brand look strong. Addressing market problems in front of investors and customers only shows that the company is first of all not hiding and not dying, as a matter of fact, it shows that the company is alive and well, and they are fighting the crisis, and they are going public with their statements. The most important task is to keep customers and investors confident about the company, and PR is just a perfect method to achieve that.
Bring out powerful brand’s advertising internationally
In crisis times like this, the service industry costs drop, that is the first thing you should know and take advantage of it. Advertising is expensive during stable market situations, use the opportunity, and try to push your brand name as much as possible.
However, doing advertising during a crisis is definitely not because of the lower costs, but because you have to prove to your audiences that the brand is not getting affecting as other competitors, and you have to prove to your competitors that you are not falling down hard, but you are strong, not letting go, keep fighting. This will show competitiveness. In times of crisis, companies and customers still have to buy services and products from other companies. The business flow is still happening even if the production and delivery speed is affected, yet global business circulates.
During the crisis, customers can learn more about the company. There is a saying, as you know, that whenever a bad time comes, only then people show their real faces. The same applies to companies. How companies treat their customers during crises? How are companies putting themselves out to the world during the crisis, and how do they manage their branding?
These are essential aspects to look at, especially for investors, because investors will eventually make money by investing or shorting. Will they short your company? That depends on your image. Advertising is just another perfect example of keeping your brand standing while others tumble. It doesn’t have to be expensive and big advertising, but it could be at least something minimal enough to drag the attention that this company is still in the game.