Covid-19: Why marketing needs to adapt rather than stop

Brands are slashing their marketing budgets during COVID-19. Instead, they should be adapting their strategy to make the most of new opportunities.

It’s an understatement to say that COVID-19 has changed the marketing landscape. No one really knows with any certainty what consumer behaviour will be like post-pandemic (though there are some interesting trends), or how long it will be until we ‘get back to normal’ or a new kind of normal.

What’s important is that brands don’t stop their marketing activity. Instead, they should adapt – there are many opportunities for brands to take advantage of, once they understand the insights behind them.

#1

Insight – Web usage is up

This may be a “duh, of course it is,” but it’s important to see what’s going on here. In the UK, Statista reports that social media use and entertainment streaming are both up around 40%, which is staggering – if not surprising. The Drum noted that we are seeing a huge increase in people checking social media across all age demographics; 27% among Gen Z, 30% among Millennials, 29% among Gen X and 15% among Boomers.

Image source: Statista

 

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Opportunity – Paid ads

Paid ads are becoming cheaper because many small businesses have pulled their advertising budgets. If there’s not as much competition, the cost per click decreases.

This means that the ROI of post COVID-19 paid ads is up 71%. That’s a huge jump.

Image source: Neil Patel

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#2

Insight – Consumers have no appetite to be sold to

Research by Forrester has revealed interesting findings about consumer energy – which is understandably low during the current COVID-19 pandemic. A key insight, and the one most businesses probably don’t want to hear is:

“At this moment, consumers don’t have the emotional energy to engage with, spend with, or recommend your brand. COVID-19-driven logistical challenges aside, this is not a ripe moment to convince consumers to open their wallet for your products or advocate for your company.”

But this doesn’t mean there aren’t ways around this…

Opportunity – Trust is your new key metric

If your customers don’t want to be sold to, how can you effectively engage with them? Further research from Forrester revealed these eye-opening results…

Image source: Forrester

 

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The opportunity here is clear. If you change the way you talk to your customers – demonstrating your compassion, understanding and integrity – by not being afraid to alter your behaviour (and de-prioritise commercial gain), your customers are more likely to trust, engage and advocate for your brand once the COVID-19 crisis is over.

#3

Insight – Conversion rates are down

With consumers spending less during social isolation and nationwide lockdowns, many businesses have pulled their marketing budgets completely – why advertise to customers who have no appetite to spend? However, a complete black-out of marketing activity may be not be wise in the long-term. The strategy watchword for these times must be: adaptability.

Opportunity – Adapt your marketing for long-term gain

Instead of placing your entire marketing budget on hold, why not do something else with it? Be creative. Try something new. In a period where the landscape changes on a near-daily basis, now is the time to be agile.

Here are some things to do:

  • Optimise your conversion rates for the future – this could be reviewing and revamping your business’ web site. Test variations of pages or alternative creative and copy – be tactical. Address how customers are feeling and adapt. Even get their feedback.
  • Build a better customer journey – SEO will only get you so far. It will get you visitors, but it won’t keep them there. Decrease your bounce rates by improving the customer journey of your website and your landing pages.
  • Create content – The Forrester research highlighted that consumer’s insular lifestyles of this COVID-19 period are stimulating their appetite for entertainment, learning, or adventure to fill the social void. So instead of selling, start creating.

Normality, or a new kind of normality, will emerge post COVID-19. Brands shouldn’t make the mistake of going silent even if consumers are distancing themselves. Because without any meaningful marketing activity, businesses may not experience the ‘bounce-back’ they hoped for.

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