How COVID Has Affected Marketing
- 27 October 2020
- Posted by: Namita Ahuja
- Category: Marketing & Advertisement
The impact on several industries in the wake of the pandemic has led to a change in the face of marketing. The industries having suffered greatly has made it difficult for marketers to sail through. However, online marketing has proved to be the magical force behind the success of marketers. The switch to online channels has led to a change not only in the marketing trends but also in consumer behavior.
With the change in marketing trends, the impact on marketers has been crucial. Staying flexible has become quite challenging as it requires consistency in monitoring changing consumer behaviors. While the brands claim to provide services, they often fail to provide quick services leading to the brands suffer in the long run due to false claims.
COVID-19 considered as a black swan event is forcing industries, to rethink and transform their supply chain model. Supply chain disruption is one of the biggest challenges taking place globally. The economic downfall has made it critical to supply goods and services quickly.
Even though most of the brands are grappling and adapting to the new trends, there is still an increase in the uncertainty considering the situation post-pandemic. However, a history of economic downfalls has shown that brands who continue to push their brand awareness, recover faster.
THE CHANGING FACE OF MARKETING
#1 Value-oriented – With the change in consumer behavior, marketers have become even more value-oriented. There has been a change in consumer behavior where they are valuing products and services that focus on promoting wellness, hope, reducing anxiety by providing flexibility in their services. The strategy has changed from marketing a product to bringing a sense of togetherness, as they stay safely apart, during these tough times. Convenience, being the backbone of e-commerce, is the reason online shopping has boomed and is playing a role in influencing consumer decisions.
#2 Covid is changing consumer behavior, hence advertising – Most consumers are settling into a new normal after coming to terms with the reality of the pandemic. There are quite a few themes that have become evident among consumers. The advertising campaigns have wisely started taking human psychology into consideration. While informative ads are key to a successful brand campaign, so are emotions. Consumers have shifted to value and essentials due to financial uncertainty.
They have also started embracing digital technology. Although it isn’t clear if the technology is the reason for breaking old habits, it plays a huge role in persuading consumers. Nutrition and health being the crux, FMCG has aggressively started marketing products promoting nutrition and health. Brands are also re-thinking their product mix and are shifting to the aspects of hygiene.
#3 Brand Initiatives are trending– Even the most agile advertisers have been in the position of being in a dilemma about meeting customer satisfaction in this unprecedented situation. They finally came up with the solution to addressing consumer concerns. Earlier food industries that used to focus on advertising their product have now taken the initiative of heightening the health concern. These industries are putting the protection of the consumers before their products. The increase in panic buying has led to advertisements delivering brand messages to discourage consumers.
KFC is a classic example of a brand initiative where they changed their brand message to bring relevance to the situation.
#4 Shift to digital marketing – The pandemic has made consumers more digital-friendly, hence making marketing strategies digitally driven. The shift from traditional to digital marketing has made marketers think beyond and explore innovative strategies to reach out to their consumers.
“As consumers turned digital, so did marketers’ strategies and they sought to increase digital experiences and improve their companies’ go-to-market digital strategies.”
#5 Added Societal lens – The pandemic has instilled fear due to the advent of hoax news.Adding a societal lens has always proved to reduce social stigmas, given the impact it has on the audience. Advertisements have started addressing the social stigmas prevailing in the society.
#6 Reinventing the direct to consumer business – Now the direct to the consumer doesn’t mean eliminating the middlemen, it is just the manufacturer taking responsibility for things relating to retail within the business. With the advent of direct to customer business, producers now have greater control over their brand, reputation, and marketing techniques. This helps the producers to directly engage with the customers. Brands that don’t have an online presence are relying on the direct to consumer business as it is the only viable option to survive and thrive.
#7 The rise of made at home advertisements -These tough times have made the advertisers think outside the box and come up with creative ads. Since going to the studios hasn’t been much of a possibility, they are bringing studios right at home. This out of the box thinking has given rise to producing commercials at home. This has changed the entire setting of the advertisements.
Although nobody would have thought of advertisements having family members as the cast, it has turned out to be the best way to create a natural setting making the message turn out to be much livelier. Consumers are often able to relate to these advertisements as it focuses on shedding light on the truth of the recent situation.