- Do you think that existing marketing strategies will work in the same manner as they did before the Coronavirus pandemic?
- Are you looking for ways and means to alter your marketing strategies in the aftermath of the crisis?
- Have you tried exploring how you could cut costs and make marketing more effective and ROI oriented?
Businesses and entrepreneurs who think that earlier strategies of doing business (pre-Coronavirus era) will hold true after the pandemic ends are in for a rude shock. This is because; the pandemic has reoriented the way customers are going to engage with businesses.
This means that banner placements at locations, which costs thousands of dollars, need to be rethought. It also means that businesses need to explore newer and more innovative channels of doing marketing.
In this article, we discuss 5 reasons why brands need to change and redefine their marketing strategies in the aftermath of the Coronavirus crisis.
5 Reasons why Businesses need to change their Marketing post COVID 19: The List
1.People are going to spend less time outdoors-
We do not have any clear idea about when the pandemic is going to end. Even after it ends, more and more people will choose to stay indoors and go out for only work or other related emergencies.
This means that all channels of marketing, which were dependent on people active in public spaces, need to be relooked. According to leading marketing firm, Digitrio, brands should concentrate on reach out to people at their homes (where they are safe and comfortable).
2.Flyers, Feedback Forms, Coupons, etc. will become obsolete-
We all know about how highly contagious the COVID 19 infection is. People have been advised to take nothing from the hands of strangers for fear of contracting the disease. We also know about how traditional marketing channels depend on such forms of marketing.
The above-mentioned channels were one of the strongest and most potent marketing strategies, which were being used by brands. However, now brands would need to rethink how they are going to compensate for the loss of these channels.
3.People are spending more time than ever on Digital Platforms-
One data, which has made waves, is how internet activity has increased three fold during the pandemic. It also means that more and more people are spending time on social media platforms and on search engines.
For brands, digital marketing presents an interesting opportunity. They can reallocate budgets and resources from traditional marketing to digital marketing. This would help businesses amp up their activities and campaigns on search engines and social media. However, with so many marketing channels available online, it is a good idea to use marketing resource management (MRM) tools to organize all of your marketing efforts and keep your team in sync.
4.Cost cutting, efficiency and small teams-
Unless you are an Amazon, or a Facebook, or probable Vaccine manufacturing company for Coronavirus, it is assumed your business has taken a hit. This means that once you restart, you would be looking to rejig your operations and teams.
Traditional avenues of marketing and sales are labour intensive. If those channels themselves are losing steam, why do you need a ten-member marketing team to run it? It would be better if you would work with a digital marketing agency for a fraction of the costs and concentrate on digital platforms, which are showing exponential growth.
5.Planning for the future, projections and trends-
Businesses, who had planned for the next financial year and were making projections, raising capital and investing on the same, will have to go back to the drawing board. This is a completely new era where success is going to be challenging and competitive.
As the world braces for its worst financial crisis, businesses need to change themselves from the ground up. This involves changes and reorientation in almost all the verticals. Any strategy, which was framed in Feb or March 2020, is as good as garbage.
Every time there is a crisis, there are also opportunities up for grabs. Some of the companies, which have become household names, now owed their origin to the downturn of 2008-09. If businesses and their owners are sharp, they can not only survive the troubles, but also emerge victorious from the pandemic.