The pandemic has changed consumer behaviour and forced market players to take a fresh look at business and marketing. Will all the audience habits acquired in self-isolation remain after the crisis, how to involve users in communication with the brand, and what qualities are needed for the marketer of the future?
What are the trends for the advertising market outlined by the pandemic?
Self-isolation has set new patterns of consumer behaviour - preference for online shopping, rational spending in times of crisis, digital content consumption, and the growth of technical literacy. A number of such trends will continue, for example, frequent small purchases will prevail over larger and rare ones.
These changes are reflected in the advertising industry as well. The main trend for the industry as a result of the pandemic will be the transition to online, accompanied by the restructuring of consumer baskets. The growth of online purchases will lead to an increase in the impact of in-app advertising, more developed logistics in the regions; also, consumers will prefer online methods more often than in-person shopping. At the same time, a surge in the consumption of goods and services that could not be used in self-isolation is expected.
How large-scale the changes will be in the marketing strategy of brands
With the crisis, businesses found themselves in a situation where the marketing mix models in the short term turned out to be virtually inoperative because they did not take into account the coronavirus crisis. The pandemic gave an impetus for the development of digital services, however, in general, consumer habits have not changed once and for all - this must be taken into account in promotion in the context of the “new reality”. To choose a strategy, it is worth following three rules: do not panic, build on the changes that have occurred for a particular business during a pandemic, and the realities of the business.
At the same time, the crisis did not fundamentally change the answer to the question of what tools should be used in new strategies - it all depends on the goals of the business. For example, for simple and understandable products, as before the crisis, special projects are not needed, but more complex proposals may require a non-standard approach. Tectonic shifts for communication is driving the agenda. It probably became hype, but it is important for a brand to understand what is behind it. Thus, the coronavirus opened its eyes to the topic of security - and if the pandemic itself declines, then brands will talk about safety for a long time.
How to choose a new strategy
During the pandemic, most consumers did not believe that brands should stop advertising - the audience expected that in times of crisis, market players would talk about their usefulness, and also set an encouraging tone in communication.
How to keep the audience and customer in a pandemic
In the face of financial difficulties, users pay more attention to prices and sales, and the cost of a product or service will remain one of the decisive factors in choosing a brand. But the price isn't the only thing that affects customer loyalty. Other important factors include convenience, quality, and additional features or bonuses. The emotional component of communication is also important. Give your client a choice of as many communication tools as possible. Chat on the website, social networks or instant messengers, interesting live event streaming, video conferencing, etc. Properly selected communications, even in a pandemic, can become a reliable tool for increasing loyalty and attracting new users and brand fans.
What brands need to do in the new realities:
Brands should continue to follow the user and follow the trends and dynamics of demand for a particular product. It is important to target campaigns specifically to the audience with the intent to purchase. The dynamics of the media must be monitored too. However, it is worth remembering that the effectiveness of channels is different for different groups of the target audience. Marketing automation and the use of machine learning algorithms can help improve the efficiency of your marketing investments. It's about segmenting your audience and adding value to each of the segments.
Flexibility, relevance and speed have become a necessity for market players. Those who meet these requirements win. Being able to quickly adapt to changes, keeping in mind the real needs of the audience, is what is needed in the “new reality”. It is also important to be entrepreneurial and think in terms of the business as a whole, not just in terms of brand promotion.