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Tim Stevens
Tuesday, June 23, 2020

How Data Can Boost Your Post-Pandemic Recovery

The coronavirus pandemic is far from over and we’re already starting to see its impact on the economy. With the fallout likely to last many months, if not a lot longer, there’s of course a lot of concern. But there are things that you can do to mitigate the long term impact, which we will look into here.

We will look at the proven strategies that have helped companies survive and even thrive following previous recessions and how you can use data to market yourself through the current crisis ready to come out of this on steady ground.

Post Pandemic World

The GDP Crash

Since we heard the news that GDP contracted by 20.4% in April as a direct result of the pandemic, we’ve had numerous conversations with our industry partners and clients to understand the issues this could lead to.

The consensus is that things are set to get worse before they get better.

NetApp and Oracle expect to see an estimated 40-65% contraction in their enterprise business in 2020.

Large-scale redundancy programmes are also evident in the technology sector and large numbers of employees are on furlough.

There’s also a lot of uncertainty about exactly how we will come out of the current situation. Will there be a ‘second wave’ of infection? How will social distancing restrictions hamper the economic recovery? Will some enterprise businesses no longer be viable? What percentage of furloughed workers will face redundancy when the scheme ends? The list could go on.

One thing’s for sure – there will be a lot of adaptation required over the months to come for many businesses if they are going to come out of this on a sure footing.

The impact on data

It goes without saying that with wholesale redundancies, the furlough scheme, and a lot of uncertainty, making sure data remains accurate is a constant challenge.

Thankfully, by nature of how we operate, we’re well positioned to keep records up to date and consistently add new records, allowing you to continue marketing effectively in these tough times.

Restrictions around data collection and usage are regularly changing. It’s important that you stay compliant with GDPR and other regulations such as the ePrivacy Directive/PECR.

You also want results, so it’s important that your data is accurate and your message is getting in front of the right people. Thanks to our approach, we can provide you with accurate, compliant data that we can refine to match your specific target audience.

i-4business Top Tip

“Always cleanse your data regularly to ensure compliance and accuracy, which in turn leads to results. We can offer you a free data audit to help you achieve this. Contact us for more information.”

A Winning Strategy

At i-4business we operate an ‘identify-verify-consent-inform-remind’ model to ensure compliance and accuracy. You can find out more about this here, but in a nutshell it looks like this:

Identity

We identify and add new contacts from numerous sources.

Verify

We employ a rigorous methodology to verify a fully accurate profile.

Consent

We obtain consent for us to share a contact's professional contact information with our clients for marketing communications, including via email.

Inform

We confirm all of the details via email. If at any point there are any changes to information or permission provided by the contact, we update our records immediately upon receipt.

Remind

We remind the contact that we hold their information and that it’s shared with our clients for the stated purpose. We also remind the contact how to opt out should they wish to.

As you can see, by going through this process we ensure that our data is as accurate as possible, it’s compliant, and we will gather all the relevant contacts that you will need.

But should you still be marketing at scale?

Well, yes. It’s important to keep your business front and centre of people’s minds, even in times of crisis.

There’s proof that companies that continue to market during a recession come out far stronger than those who purely focus on cost cutting.

A study by the Harvard Business Review following the Great Recession of 2008-2009 proved this point. Here’s a snippet from their findings:

“Companies that master the delicate balance between cutting costs to survive today and investing to grow tomorrow do well after a recession. Within this group, a subset that deploys a specific combination of defensive and offensive moves has the highest probability—37%—of breaking away from the pack. These companies reduce costs selectively by focusing more on operational efficiency than their rivals do, even as they invest relatively comprehensively in the future by spending on marketing, R&D, and new assets. Their multipronged strategy... is the best antidote to a recession.”

Moving into the new-normal

Whilst life will feel very different for a significant period of time, the fundamentals of marketing remain the same. You need to get the right message in front of the right people.

It all starts with having compliant, accurate data. Contact us today and we will provide you with the exact data that you need. It’s time to start marketing for tomorrow, today.