COVID-19 has injected fear and anxiety amongst people across the globe – the market is uncertain, and marketers need to innovate and break the old ways of marketing on digital platforms
The pandemic almost feels like the end of the world with the stock market crash, people being laid off, remote working culture stepping in, and the entire market shifting online. The competition across all digital platforms has turned stiffer with each passing day. And, even after all this is over, companies need to mend their ways and innovate their digital marketing strategies to survive the competition for long-run business continuity.
While planning a digital marketing strategy, marketers need to consider several post-COVID-19 scenarios and tweak their approach accordingly:
Limited Expenditure to Creative and Content Production
Creative and content production methods are still ripe for disruption, as companies have the potential to save huge costs in this domain. Brands are still relying on the archaic content production model that was built for print advertising, where each piece of content was manually drafted, edited, distributed, marketed, and paid for. Personalized marketing is the need for the hour during the current COVID-19 situation, and to succeed, digital marketers might end up spending heavily on personalizing their content and creativity.
Marketing budget cuts are inevitable; this area remains most ripe for the use of technology to reduce production costs hugely. Modern dynamic creative technology (DCO) adoption will enable creative content to be automatically versioned in desired languages, product packaging, etc. without paying for each ad creative.
Direct 1:1 Consumer Marketing is Imperative
Post the pandemic, firms need to focus on building direct relationships with the consumers. And, they need to be smart about their approach to future-proof their investments. The best example of this is how the retail industry is moving to invest in product distribution via eTailers like Amazon or even via direct-to-consumer sales.
As retail sales have crashed due to COVID-19, sales of brands having e-commerce offerings have skyrocketed. All retailers need to redirect their Marketing investments to Digital Marketing, driving marketing, and even sales through online platforms, apps, and websites.
Following similar efforts, all the B2B marketers now need to turn digital themselves – focusing on remote collaboration platforms to conduct as many face-to-face client meetings as possible.
The investment in MarTech platforms will also shoot up after COVID-19 is over. This is all because personalization will become the “key ingredient” to all successful marketing campaigns. And, total personalization without technologies is extremely expensive and next to impossible to achieve.
The biggest lesson that brands have learned from COVID-19 is that agility is what helps them to survive such big crises. Brands need to be prepared with a high level of response agility to change messaging and content.
To ensure that the marketing content gets maximum attention and response during the crisis, brands need to create unusual messaging to create a difference. Along with agility, marketers need to realize that the current one-size-fits-all approach is not enough in the present market scenario – a touch of empathy is necessary in such extra-ordinary times.
As competition gets cut-throat, brands acquire more real-time and responsive marketing stack. Marketers post-COVID-19 will have to rethink and reassess the technologies they actually need, helping them to optimize their budget in order to normalize the losses and alterations induced by this crisis.