Will marketing strategies still remain the same in today’s new world or will they evolve?

COVID-19 has impacted the entire world, with no cure in sight social distancing is the only way to limit the spread of the virus. But during these times when people are staying home and working remotely, buying patterns are drastically changing. Hence going forward during these uncertain times it is inevitable that marketing strategies will remain the same.

Marketers and brands will have to adapt and accept the new norms of life which may be one of the biggest challenges that organizations are facing today. Consumer behavior is rapidly changing and keeping in mind the current situation expected changes in buying patterns will include, panic buying and stocking of essentials, more people choosing home-cooked meals or canned food over restaurants and delivery, avoiding luxury shopping to save money as the economy is slowing down, restriction on travel impacting tourism and hospitality, and increase in online shopping through mobile devices. Some products will be more in demand that may include home gym equipment, grooming & styling tools, coffee machines etc. Solutions that provide connectivity & collaboration to remain in touch with family, friends & office during social distancing will become a necessity.

In short, now we are adopting to work, shop, exercise, entertain and learn from home. Digital experiences are replacing in-person experiences. Some of the new habits will become the new normal even after the crisis passes. Looking ahead, the best companies in the world will prepare now for how to meet the needs of consumers when the recovery period begins. Let’s not expect the consumers will return to the same place.

So how should your marketing strategy evolve in such turbulent times?

To embrace the changing times positively during this economic slowdown, creativity, resilience, agility and empathy will be the key tools for a marketer. By proactively reaching out to customers at home, where they are, some adjustments will be required in the marketing strategy.

Predict Consumers needs:

Predicting the needs of the consumer being the first one. Understand, anticipate and go above and beyond to fulfill customer needs. According to your specific target segment try to provide them with what will help them in these times where social distancing may lead to stress, boredom, anxiety and sense of loneliness. This makes it crucial to identify individual consumer needs and address them before it becomes a problem area. For example, gyms and salons are closed, it may be the first time your customers will need to exercise or do self-grooming from home, how can you engage with them and help through your brand or products or services. Day-cares being closed may make it very difficult for working parents to keep their young kids engaged, what can you do to help them. This will create meaningful, supportive engagement with consumers where brands have an opportunity to provide real-time assurance and a feeling of connection.

Make use of Technology:

Secondly, leverage technology, companies especially online marketplace giants are over-burdened with the rising online orders, stocks running out, prioritizing essentials and ensuring health of their employees and customers. Where huge business opportunity lies in creating your own online portal, sell your products online, build your own logistics to deliver your products to their door, give them the option to select unattended delivery for their safety, give priority shopping hours and speedy delivery to senior citizens. For example, delivery apps for groceries and medicines have a massive demand in the new normal life. Also focus on increased personalized connectivity and ways to keep services running. As consumers may not be able to visit their favorite restaurant or retail store, but the virtual community created online mixed with creative delivery and e-commerce services may be a realistic alternative. Technology will serve as the backbone to deliver these ideas quickly. 

Be more active in the Digital space

Consumers are now at home practicing social distancing and spending more time online on their devices on social media or online portals or OTT streaming platforms, so it is necessary to tweak your ad-spends to reach out to customers where they are. Divert media spends to safer options and adjust marketing budgets more on digital media.

Be a purpose led brand

During these testing times, every age group has a mental impact, while kids cannot go to schools or play, the bread earners are worried about finances and seniors are stressed as they are more susceptible to the virus, it is therefore important to engage and entertain people. Marketers need to find innovative ways to ensure their services reach customers, it will go a long way in building lasting relationships. The immediate marketing challenge for companies is building a relationship beyond what they sell and focusing on helping and not selling. Empathy will play an important role and retaining customers and their trust.

No one knows what’s next in the global pandemic and when it will end. But, to survive and rise, we must stay sharp, creative and positive. We are in this together – and we will get through this, together.