5 Marketing Trends in the Covid Age
We are over five months into the Covid-19 pandemic and it is becoming more and more clear how surviving brands are adapting their marketing approaches. We are seeing prolonged uncertainty on a global scale in all areas of our lives. From a business standpoint, the uncertainty surrounding brands, the global economy and consumers is having a dramatic impact on how businesses are marketing themselves.
1. Decreased Ad Spending
Ad spending is down globally, by some reports, to the tune of $50 billion. There are a number of reasons for this including lockdown restrictions limiting actual operations, complete industry collapse, a “wait-and-see” mentality during the pandemic uncertainty, and the simple fact that many businesses are struggling to survive and have no other choice. While best practices still say that you should continue to spend money to position your business for recovery, each business has to strike the right balance given their financial situation.
2. Shift in Projected Values
Consumers are wary of the “sell, sell, sell” mentality. They are seeking community-based values and brands that put service and trust above turning a profit. There’s a unique “we’re all in this together” mentality across the globe that businesses are tapping into and positioning themselves as a trustworthy friend to consumers.
3. E-commerce and Digital Purchase Journeys are Paying Off
Possibly one of the most distinct indicators of brand survival was their investment in clean, well-functioning e-commerce sites and thoughtful digital purchase journeys. Those that had made this a priority pre-pandemic, were lightyears ahead of businesses that had to scramble to set up a make-shift online presence. There is also a stark difference between brands that were able to invest deeply in their digital presence making seamless user experiences, and those that tried to find a budget-friendly solution to just get by. Consumers don’t have the patience for sketchy interfaces and glitchy processes.
4. Interactive Content is Turning Heads
In our self-centered culture of instant gratification, interactive content is turning heads and driving sales. During the age of social distancing, social media use is up and shoppable social is king. Users appreciate the ease of in-feed purchases and shoppable posts, eliminating the need to leave the platform and travel several clicks away. Other interactive content like 360-degree videos, AR/VR and quizzes/polls are also turning heads, increasing audience engagement and building customer-bases.
5. Creativity, Innovation and Adaptability are Key
Brands that are set in their old ways are getting left behind. Leaders that are creative, innovative and adaptable are proving that, even in the most difficult circumstances, they can thrive. Brands who rethink how they work, how they produce, how they interact with consumers in person and online, what their values and unique offerings are, etc., are leaving stagnant brands in the dust.
While ad spending is down globally, brands are shifting their dollars to other areas with a more certain ROI amidst the uncertainty of a pandemic. Your online presence starting with a site well-prepared to handle e-commerce and online reservations is a good place to start. From there, a creative social approach that focuses on providing support and resources to consumers will build trust and drive traffic. Consider your industry and if shoppable posts and in-feed purchases are appropriate and worth-while. While you’re at it, now may also be a good time to diversify your income streams and look at affiliate marketing opportunities and other more passive revenue sources.
Finally, remember that although you may need to slash your typical ad spending, there are creative ways that go beyond your standard ad-buys to still get your brand out there in more economical ways. Consider investments in long-term marketing solutions like vehicle wraps/decals and cohesive brand collateral (signage, menus, displays, email marketing, social media posts, etc). Putting your best-foot forward will go a long way in setting you apart from your competition.
For more guidance, call Mary at Riffland Solutions today: 763-767-0401 or email at: firstname.lastname@example.org.