III. Marketing of restaurants in Bali during the financial crisis  2020

1.) The “new normal” for the world of marketing & why reastaurants and bars need to adapt to it

It is said that the economic crisis to come has not been seen since the Great Depression in the 1930s, which caused insane amounts of unemployment and poverty across the globe. Not only are restaurants in Bali losing valuable customers during this period, they will continue to lose customers in the future as their pockets run dry. A chain reaction of events will lead to consumer behaviour changes, with a target audience that has become more frivolous with their money, spending it on necessities as opposed to luxuries. The only way to rise above, is to take a different approach. Marketing during this period has greatly changed in more ways than one. A decrease in advertising costs is causing brands to fork out more money in order to attract customers. This evidently results in a buyers market for SME brands. According to this research, customers believe it is important for restaurants to not exploit or take advantage of the current crisis, and rather lend a helping hand and support the community where they are able to. Sensitivity is key during this period, so keep your brand voice calm, positive and show that you are well-informed.

2.) Keepin marketing alive is key at this moment. This is why:

Even if your restaurant has shut its doors completely, the communication marketing and branding for a restaurant should remain functional during this period. The reason for this is because your customers and audience need to keep hearing from you to keep your brand top of mind. In addition, you should be creating useful content that enriches your audiences lives and relates to them.