Marketing Trends

Top 5 trends that will spearhead B2C marketing in 2021

The COVID 19 outbreak has changed how companies function. Especially for B2C companies, a more agile and strategical approach was required to continue operations. Not only they were required to plan out an approach with minimal loss in productivity, but they also have to counter the scrunching economy and decline in customer engagement. At the heart of it, lies the challenge of marketing, to make the company’s product visible to the consumer. Before the COVID 19 pandemic, consumers across the global market were promptly acknowledging the products available across the industry. But unemployment, inflation, economic recession, and uncertainty about the future has caused a shift in the consumer/customer base. Henceforth the B2C companies require a proactive marketing approach to tackle the dimensional shift in customer behavior.

Here are the top five trends that will help B2C companies to sail through 2021, in the marketing space-

1.    More goodwill and purpose-driven missions from brands 

The 2021 Hoot suite Social Trends report stated that:

“The smartest brands will understand where they fit into customers’ lives on social media, and they’ll find creative ways of fitting into the conversation.”

At the core there is a requisite need for transparency.

It’s unthinkable for consumers to connect with the brands that they see as feigned or shady. Why would they want to invest in brands that they can’t trust or don’t believe in? This is why goodwill will be essential for brands that want to remain reliable and on top in 2021.

Now more than ever, brands need to dig deep to seek out the way to flourish in turbulent times. Consumers usually incline towards brands whom they trust and find authentic. A brand without a great purpose stands every chance of diminishing. A report from Deloitte states that, to do this, brands need to “be deeply attuned to why they exist and who they are built to serve”. And this purpose must influence everything a brand does. In my view, this is a more sustainable way for brands to impact society. The Unilever Sustainable Living Plan (USLP) provides a framework for brands to identify and define a purpose to engage with society. Business models are then created around the purpose to impact a large pool of consumers all around.

 In a country like India, where safe drinking water is yet to reach millions, Pureit provided access to safe drinking water at an affordable cost without any need for electricity or running water. Pureit partnered with NGOs in deploying micro-credit that enables purchase in affordable instalments.

This is not the first time we’ve seen brands doing good things, but there will be an even bigger emphasis on this year.

2.     Artificial Intelligence Induced Market

“AI is going to make our lives better in the future.”

                                     —Mark Zuckerberg, CEO, Facebook

With the quick push on of artificial intelligence (AI) technologies, company from emerging markets have initiated accepting AI applications to boost their efficiency and find ways to develop their merchandising. In the coming years, artificial intelligence is likely to essentially change both marketing strategies and customer behavior.

? Merging facts and figures from different origins (radio, television, social media and websites) can help companies set up data management platforms, evolve sound business plan of action, less hurdle of doing merchandising, generate creative business ideas, and prompt economic growth.

? Companies in growing nations like India use different and innovative AI-based solutions to upgrade independent transportation of goods and service, execute manufacture automation and expand cell phone AI applications for services and credit access.

? By upgrading production, business procedure automation, monetary solution and administration services, AI-based technologies can generate ways and upgrade markets.

? Investigators can also use artificial intelligence based tools such as facial recognition, speech recognition system, image recognition, machine learning and also natural language processing in their research about business problems in emerging markets.

? Observed studies can help companies recognize and understand AI’s uncontrollable     capability as well as the barriers, hurdles and challenges of accepting and combining AI  into business in emerging economies.

3.    B2C digital marketing

Business marketing directly to consumers (B2C) has changed over the years, and it continues to evolve in a techno-centric way that promises massive profits for those who can master it. We all are aware of the fact that how digital marketing is doing wonders to the world of marketing from many years be it Volkswagen’s The No Show Room or Apple’s Pandemic-Era Work-from-Home Thing campaign, but the golden age of digital marketing in India is yet to come and with that it attracts more challenges. Some of the top B2C trends that are likely to highlight in 2021

1.    Attention spans

A study by Microsoft concluded that the human attention span has dropped to eight seconds. So it becomes important that you gain customer’s attention in just 8 seconds. Viewers retain 95% of a message when they watch it in a video, compared to 10% when reading it in text. This means there’s opportunity to elevate messages through video and evoke emotions that last.

For example- OYO’s fathers day ad sparks emotion by presenting the inseparable bond between a son and his father. OYO was able to effectively carry audiences through a touching story, while subtly weaving their brand throughout.

2.    Customization

As 2021 approaches, a company’s ability to customize a product is becoming critical. Companies realize that every customer has different needs and digital marketing via websites allows the customers to choose which leaves a positive impact on the mind of customers. some of the industries that encourage customization in their products are-

·        Cars .

·        Travel plans.

·        Shoes.

·        Food& beverages.

3.    Gaming

Of course, B2C marketing using in-game purchases works well for game companies. Virtual gaming has created an entirely new digital marketing frontier for advertisers to engage with customers. Similarly, it works for the other companies as well. However, companies that gamify their apps also enjoy higher returns on their advertising campaigns and are also able to convert a surprisingly high number of customers. some examples when companies effectively used these gaming strategies are-

·        Nike fuel

·        My Starbucks rewards

·        Dominos

·        Crack the U.S open contest

4.    Social Media Marketing Trends

Short-Form video - We all know that video is the most engaging form of digital content online but our attention spans are not what they once were. And, with the threat of users scrolling on before you get your message across, short-form video has become the format of choice for influencers, brands and individuals on social. But our decreased attention spans aren’t all our fault. With the popularity of Instagram stories and snapchat, the introduction of platforms like Tik Tok, and the development of new functionality on existing social platforms like Instagram reels, viewers have been conditioned to expect to be entertained in a very short amount of time.

Social Commerce- Social commerce refers to the use of social media to drive e-Commerce purchases. And social platforms are making it easier and easier for online retailers to do so with the introduction of Facebook and instagram Shops, and shoppable posts. With 71% of consumers already using social media to get their dose of shopping inspiration it makes sense to extend your shop’s reach and develop an integrated shopping experience.

Personalized Marketing- It’s all about providing a unique experience for the customer based on what you know about them. And with so many people on social media these days, it’s become much easier to personalize brand experiences by using consumer data and pinpoint targeting. Like- Cadbury personalized their message in a completely different way, to promote the Cadbury Glow product. Using new technology to generate personalized videos by pulling data from Facebook accounts, Cadbury’s message was a simple one- make the memorable moments glow with a gift from Cadbury.

  These are the social media marketing trends that you are going to see in 2021

5.    Towards a Customer-Centric Approach

Customer-centric approach  basically means companies not focusing on making higher profit but showing major concern towards what customer really wants.

As many brands have now shifted towards a customer centric approach. Instead of focusing on the quantity of the product, brands are focusing on the quality of the product.

Brands that are adapting customer approach they put their customer preferences first. They make it a priority to provide an exceptional customer experience at the point of sale and after the sale to increase profits and gain a competitive edge.

Truly customer-centric organizations identify their most valuable customers and ensure their satisfaction. In order to do this, organizations gather customer data from multiple sources and channels and target their most profitable customers with relevant offers at the right time.

 Let’s take an example of Sephora.

So Sephora has introduced another innovative AI tool for personalization is Sephora’s VR lab. Just like Jackson was able to remotely try on their running shoes pre-purchase, Sephora’s customers can virtually try on makeup. So Sephora has also started new trend towards customer centric approach.

By tracking behavior in the VR lab Sephora can see many things like -

Which trends are popular 

What products people choose together

What intensity of makeup people use

Which products people choose to use at different times of the day

So, from above example we understand that companies are willing to change their course of action for fulfilling the needs of customers and adopting customer centricity.

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Conclusion

A successful marketing strategy implies building trust amongst the consumer. Through strategic marketing planning, businesses can ensure broader customer engagement.