News Bytes and Blogs _

The outbreak of COVID 19 has impacted the business of all sizes across all geographies. Every section of the society is grappling with the current situation and facing a tough road ahead. With social distancing as the only way to limit the spread of the virus, people are staying home and working remotely. How is this change in societal behavior and changing consumer buying patterns impacting marketing and how should businesses evolve their marketing strategies in these uncertain times?

Consumer attitudes and behaviors have changed with the onset of COVID-19. With restricted movements, closure of offices, factories, stores, and airports, in- personal experiences have been mostly replaced by digital experiences. Businesses need to pick up on these consumer behavior changes and virtually communicate and engage with consumers through their digital media channels. These are unprecedented times and thus, it is crucial for marketers and businesses to see consumers as individuals who have purposes of their own. You don’t want to look like you’re ignoring COVID 19 or attempting to cash in on it. Ensuring that you take a compassionate & practical approach to communication that adds value to your customers will ultimately lead to long-term consumer trust, satisfaction, advocacy, and loyalty.

As people stay at home, time spent on their mobile devices and online platforms are already on the rise. People are consuming more digital media as they practice social distancing and are seen spending more time on OTT streaming platforms for entertainment, social media for connecting with the outside world, e-commerce portals for shopping and so on. It is important to be mindful of such changes and shifts in media consumptions and tweak your overall advertising efforts and marketing spends to reach customers where they are most active.

In worrying times like these, we also notice certain brands taking a pause on digital media due to financial or revenue suffering. Rather than deteriorate in front of your customers, we would suggest you remain active and show how you’re there for your consumers through thick and thin. Remember that at some point, the existing bans and restrictions will be lifted. When that happens, you still need to be in the minds of your customers.

There is also a hidden opportunity for brands to maximize their reach and performance during COVID 19. With more time to consume digital media content, the supply is trending up and this makes ads cheaper with decreased CPMs. This means there’s a golden opportunity for brands that have the budget to make their message go to a wider audience than it normally would, especially if you are selling products or services that are deemed an “essential”.

CONCLUSION

With total disappearance of all channels related to live events, conferences, trade shows & exhibitions, more and more companies are turning to digital channels and embracing the transformation. Digital is a clear winner, and companies – including ones that may not so much have a professional online presence – will need to move into establishing and marketing themselves on the digital medium now.

Amidst all this uncertainty, it is also imperative for digital marketers and businesses to adapt to changing trends and newer consumer behaviors to drive successful marketing campaigns. Depending on the industry your business is in and the ways you serve your customers (offline, online or both), you need to best fit the needs of your consumers and your business by resolving on how you can add more value to your customers at this time through your products or services.