In January, videogame retailer GameStop took over the news cycle when a group of online investors triggered a massive surge in the company’s stock value. The short squeeze saw a 1,500% rise in GameStop’s share price over a two-week period before dropping back down in recent days.
Of course, that’s the short and simple version of a much bigger story. The point is this, what happened with GameStop’s stock market activity captured headlines and the attention of millions. For investment managers with their ears to the ground, the news presented a great opportunity to reach out to clients about their portfolios. This is real-time marketing in action.
Real-time marketing has been a widely covered topic here on Marketing Corner. And for good reason. There have been multiple occasions over the last year for producers to scramble together a quick marketing plan in response to an event or timely topic, such as legislation related to the pandemic. With a new administration in the White House and potential legislative changes that could impact your clients’ lives, more of those opportunities are on the horizon. Because legislation, tax code changes, etc. take time to implement, it is easy to incorporate these events into your marketing plan. However, you also need to expect the unexpected.
A proactive marketing plan will include room for micro-campaigns. These are hyper-focused, multi-channel marketing efforts that aim to engage with a specific audience. Rather than big picture events, such as the GameStop short squeeze or legislative action, think about those things that impact people in your area. What’s going on locally that could be used as a prospecting opportunity?
For many, that answer can be found in the unwavering unemployment numbers. Since the pandemic hit, layoffs and furloughs have become part of the new normal. Some who have lost their job due to a lay-off have also lost their group term plans. Or they may have money in a retirement fund that needs to be rolled over. Online resources like FreeERISA, which provides a list of companies conducting lay-offs, can be a good place to build a database of prospects who will need guidance during unemployment.
Something else to keep your eyes on in the coming months would be local businesses receiving PPP loans when the next pandemic relief package passes Congress. PPP loan recipients are typically small, locally-owned businesses that have been struggling to keep their doors open and could benefit from a business valuation as they get back on their feet. With a little research and legwork, you can build a list of local businesses that might need your services now or in the months to come.
What else is going on in your community that could lead to new prospects or client engagement opportunities? Think about these things, who they will impact, and how you can help. Once you’ve established those possibilities, you can start to work these potential micro-campaigns into your overall marketing strategy.