When international and domestic travel ground to a halt a year ago, Toronto entrepreneur Dan Demsky's Unbound Merino found themselves facing a unique situation; the lifestyle they sold had ceased to exist; there's no need for high quality wool clothes for travel when there no one is traveling, be it for business or pleasure. His brand was, in normal times, on point, his product high quality, and his supply line strong, but Demsky faced disaster if Unbound Merino couldn't effectively pivot away from its core message, and reinvent themselves for a COVID 19 world. While sales tanked for March and April, by May 2020 Unbound Merino was back on track, thanks to a fearless top-to-bottom reorganization of their brand that any struggling company can reproduce.
- Know what your business is, not your sales pitch. "comfortable travel" may be out, but Unbound Merino's products are still high quality, and supply has not been disrupted, so the only thing that needed change was the message the customer received
- Trust and rely on the customers who got you where you are. They haven't gone away, the consumer information you gathered from them is still valid, so tailor your efforts towards making their relationship with your brand even stronger, and they will continue to support you, financially with sales and dynamically with feedback
- Recognize that you're not the only company facing difficulties, and capitalize on the disruption to others. Suppliers may now find themselves with inventory that otherwise would be sold to a competitor, but you may be able to pick up at a discount. See where you can expand your business, purely based on unanticipated availability and sudden absences in the market
- Embrace the excitement of scarcity. While a reliable stock is your backbone, unexpected inventory can allow you to surprise your customers with limited special offers and exclusive products. With everyone stuck at home, craving some excitement, even an unexpected, "while quantities last" t-shirt can become an event that gets your consumer base talking, and buying
- Don't abuse your customer's trust with panic-messaging. If you have a normal pace for seasonal sales, don't disrupt that, you customers look forward to them and rely on them for solid deals. Sending them a barrage of messages about sudden, unannounced sales only weakens that relationship, annoys your customer, and makes your company seem unsure and unstable. Keep a steady hand on the promotional wheel.
Trust in your product, have faith in your customers, and your brand can weather than storm and survive any global disaster
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