Learn why it’s important to act based on data rather than emotions during a crisis.

Grow Your Business, Not Your Inbox

Stay informed and join our daily newsletter now!

July 20, 2020 2 min read

Opinions expressed by Entrepreneur contributors are their own.

Hear Startup Story Live speaker Erik Huberman, founder of full-service consultancy Hawke Media, talk about why now is an opportunity for businesses to gain market share.

Huberman discusses his company’s early response to COVID-19 and how new customers made up for lost due to marketing budget cuts. Huberman talks about how situations such as the pandemic necessarily cause companies to lose affected and scared customers, but that waiting and “holding on for dear life” will not reverse a decline. He recommends instead that businesses focus on acquiring new customers with sales and marketing.

is now cheaper, Huberman says, with costs-per-impression on and down 30 percent and costs-per-lead down by a third. Even with conversions down slightly and an extended purchase cycle, he’s experiencing savings on ad campaigns.

Huberman advises to act based on data rather than emotion. He mentions that Americans currently have more disposable income than they have had in 30 years and that companies with online offerings are experiencing increased business.  

Huberman also reminds entrepreneurs that part of running a business is dealing with and solving challenges, including COVID-19.

Startup Story Live is an extension of the Startup Story podcast.

Related: How Building a Black Hawk Relates to Running a Startup

This article is from Entrepreneur.com

You May Also Like

Checklist For Next-Gen Entrepreneurs In Space-tech

Opinions expressed by Entrepreneur contributors are their own. You’re reading Entrepreneur India,…

Crafting The Best Public Relations Strategy For Your Business

An FYI on PR that works for Y-O-U. Entrepreneur’s New Year’s Guide…

How HubSpot CRM Empowers Small Businesses to Succeed

Disclosure: Our goal is to feature products and services that we think…

If Your Business Struggles With Miscommunication and Disorganization, You Need to Put This System in Place

Opinions expressed by Entrepreneur contributors are their own. From a logistical perspective,…