Covid-19 has changed everything and has left no turns unturned within a short span of two years. As people tried ways to adjust to the new normal, marketers jumped on to experimenting with strategies to prevent the losses that companies were suddenly subjected to. Multiple studies were conducted, analytics were used, and we saw mind-blowing campaigns that changed the game for some companies.
While everyone else was cribbing for revenue loss due to worldwide lockdown, some geniuses couldn’t be stopped from applying their problem-solving skills. They analyzed the changes, saw their chance, and turned the disaster into a benefit. Here’re 4 most interesting marketing strategies that set the bar high for the marketing industry.
4 Marketing Strategies That Thrived During Covid & Are Here to Stay
1) Expanding Digital Presence: Ecommerce
According to a reportpublished by Statista in 2020, 38% of people used grocery delivery services more than before while 14% of people opted for the online delivery service for the first time during the lockdown. The sudden shift in consumer buying behaviour allowed marketing experts to see a great opportunity in upscaling their online game.
From redesigning brand images to targeting customers with at-home services, the expansion in digital presence has been a real trendsetter. Since brands witnessed immense growth in their revenues despite the plunging global economy, this trend gained more attention afterward. Especially because ecommerce is more safe, efficient, and effortless than an in-store shopping experience.
2) Using Data & Analytics to Create Campaigns
Experience marketing, performance marketing, and Omni channel presence have gained more traction during the pandemic. Keeping a close eye on data related to target customers’ buying patterns, online behaviour, and shopping preferences became a mandate even more than before. Because, when your only option to connect with your potential customer is through the internet, you need to stay visible and relevant on every platform.
To support the rising demand for data, AI evolved so much during this time with elements like machine learning, NLP, and big data. AI platforms automate and use customer profiles to personalize marketing campaigns. This strategy is more inclusive in terms of targeting customers with relevant ads and eliminating brand-imposed ads that are of no use for the set of audiences.
3) Associating With a Global Cause or High Values
With an increasing number of users on social media, the world is becoming narrower metaphorically. Anyy initiative turns into a wave in seconds and makes users more aware of global issues or contemporary problems. Customers are no longer allured by fancy ads. They rather want to see brands taking initiatives for a cause and continuously work towards it.
People feel a sense of contentment in associating with local communities and with brands that are sustainable, voice racial issues, or adhere to high values. Marketers cannot ignore this trend and have to realign their brand’s vision.
According to many reports, customers now don’t hesitate in trying new brands and products. This trend has allowed new brands to emerge and grow unexpectedly during Covid-19. And customers are not going back to the old ways of trusting anything a brand casts through TV screens.
4) Implementing Influencer Marketing
Similar to a brand value, the audience is more aware of the personalities of the people a brand is associating with. This awareness has given a rise to influencer marketing. People no longer look up to celebrities for inspiration. They feel more connected with people who they can relate with and that is why they prefer buying from brands that these influencers promote.
Another reason behind the success of influencer marketing is a large number of followers the influencers have. Through influencers, new brands can easily reach a wider audience base and instill a sense of trust. This trust drives the followers to try a brand and come back and give feedback. This interesting trend has given marketers an amazing way to make new and unpopular brands famous within days.
The digital world of connectedness has developed new channels for marketers. These trends and strategies are going to be modified and put to use even when the world resorts to being “normal” again.
Authored by Prof (Dr) Nimit Gupta, Professor- School of Management and Liberal Studies, The NorthCap University, Gurugram