We are in the midst of a global pandemic. If you have a business idea or a brand you want to start, you are probably thinking about whether this is going to be the right time to launch it. After all, the economy is not at its best and customers are shopping differently.
So, to answer the question, can you launch a brand during the pandemic? Yes, there is nothing stopping you. In fact, there are new brands that are being very successful because they are changing their strategy. If you are able to rethink your launch, you are perfectly capable of having a successful brand.
More people are staying at home than ever before. This means that they are doing everything online. From interacting with friends and working from home to doing their shopping. So, you need to make sure that your new brand is going to be discoverable online. You should use a lot of your funding for online marketing. You want to spread the word about your new brand and make sure that you are making it onto the screens of potential customers.
Look for Funding
Private investors are still funding new start-ups and brands right now. While you may have to work harder to showcase that you are worth their time and money, it is still very possible to acquire funding. This is particularly true if your brand is what the world needs right now. For instance, Tej Kohli is an investor that supports humanitarian causes and wants to help other people. Perhaps your new brand can fit this bill. You can read more about Tej Kohli in the Telegraph.
Offer Essential Goods
Lockdown has meant that new essential goods are emerging from those that are living and working from home. For example, more people are spending money on wellness products and services than they usually do. New trends are beginning and accelerating during this pandemic and your brand can be very successful if you can tap into these markets. You need to give people what they want.
In particular, making your brand affordable is going to be important right now. People are still worried about working from home and how their job might be affected in the coming months. The last thing they are going to want to do is make expensive purchases on a new brand they have not tried before. Thus, it will be beneficial to keep your prices affordable to begin with and until your brand gains traction.
Have Promotions and Discounts
There are going to be some people watching their money during the pandemic. Namely, these could be your potential customers. But this does not mean that they will not purchase your products or services. It just means that they might need some encouragement. In order to get your brand off the ground and running, try offering introductory promotions and discounts for new customers. This can be a great incentive to make cautious purchases into customers with your new brand.