How can Businesses Evolve Their Marketing Strategy during COVID-19?
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It is important to recognize how the current global
crisis affects more than just the way we do business. The COVID-19 pandemic
continues to have a physical and mental impact on billions of peoples’ lives
around the world. During this unprecedented event, it is essential we come
together as a community.
Looking for ways to evolve your marketing strategy during COVID-19? Start by
reviewing how other industries have adjusted their products and services to
meet changing customer needs.
The COVID-19 pandemic has left no industry untouched and we can expect it to change everything from the way people shop to how they socialize with each other.
As governments around the world encourage people to stay
home, a new kind of normal is being embraced. This may feel like a daunting
time for businesses, but it’s essential we remain flexible and adapt to the
changing needs of consumers. With the huge impacts this situation is having on
people’s lives they are looking for new, convenient ways to access everyday
comforts.
That means a surge in online opportunities to help
support.
Now the demand for online services has become paramount.
Digital media is the primary way for people to connect, discover and make
purchases. It is through online channels they can fulfil their needs and find a
sense of normalcy.
At this time people are turning to technology as a tool
for work, communication and to stay in touch with consumers across the globe.
As a result, the technology and software as a service industry have experienced
a boost in the last several months.
The ability to connect face-to-face while working
remotely has become a high commodity. In response, many technology companies
are rolling out tools that can help businesses with the transition to working
from home. For example, Google is waiving the monthly fee all G Suite
and G Suite Education users pay for Hangouts Meet. Similarly, Zoom has lifted
the 40-minute limit it had for conference calls through their free Basic
plan.
Technology companies are shifting their focus towards
providing solutions designed to help people through COVID-19. The aim is to
make things as affordable as possible while giving customers the chance to
discover the features that are most relevant to their needs. As a business
owner, it’s important to figure out how your services can be tailored towards
solving today’s challenges.
How to change your marketing strategy:
·
Adapt your services to be compatible with remote
working environments.
·
Consider ways to reduce or eliminate unnecessary
fees or registration costs for new customers.
·
Utilize virtual solutions for any services that
do not require in-person contacts, for example, a virtual tour of your retail
store to help consumers look inside the store without visiting.
E-Commerce
As more people continue to practice social distancing the
need for unnecessary trips to the store has reduced. Retailers in the US
experienced a dramatic decline in in-store visits as advertisement
conversions dropped 90% at the end of March. For businesses, this
means a mandatory transition to e-commerce sites and online selling strategies
to reach customers.
The CEO of 123 Internet Group, Scott Jones explained
that there has been an increase in companies looking to
incorporate digital channels into their marketing strategy. This has included a
desire to create or update websites, develop new e-commerce channels and even
release social media campaigns centered on people working from home.
Some businesses are also looking to shift their focus towards influencer
marketing, and SEO content to reach different audiences.
With everyone looking to become an online retailer,
support from existing e-commerce websites is essential.
It’s crucial you remain connected with customers by
embracing the benefits of online selling. A small business owner can optimize
their website reach through SEO, content marketing or social media
campaigns:
·
Consider using SEO content and influencer
marketing to reach customers on social media
·
Utilize e-commerce options to optimize your
website for online purchases
·
Leverage lower cost, basic feature plans that
customers can customize to meet their current needs
·
Transition your current distribution channels to
provide contactless delivery/pick-up
Video Streaming
Businesses are becoming more and more reliant than ever
on their digital strategies. A major challenge of this change
is developing new channels for hosting live events and conferences,
as well as face-to-face business. For B2B companies in particular who rely on
trade shows and exhibitions for networking with customers, the shift to online
may prove more difficult.
For the events technology agency Buzznation, events
often consume 50 to 60 percent of their client’s marketing budgets.
In their research, the agency found that in addition to offering immersive 3D
virtual events, businesses are looking to improve their use of live social
platforms. In today’s current circumstances clients and consumers have begun
recognizing the value these types of digital channels have.
During late March, Snapchat’s calling feature, often
accompanied by augmented reality experiences, grew by more than
50% compared to February. The company’s technology has made it possible
for people to connect more easily, and stay informed by trusted media
publishers. As of April 7, 40% of Gen Z users in the United States
have used the app’s Discover platform to find content that interests
them.
Other social networking sites have also switched their
product development focus toward live streaming. The number of users
watching live video on Facebook has increased by 50% since
January, prompting the company to accelerate development for new Facebook
Live features. Facebook’s overall marketing strategy is aimed at making live
streaming video more accessible, while also improving the potential income for
broadcasters.
Video content streaming is in high demand leaving
business owners to target consumers through video/YouTube marketing strategy.
While capitalizing on the increased
demand, these channels are able to explore potential new avenues for
growth.
·
Understand the value live streaming platforms
have for connecting your business with a wider audience
·
Utilize video and digital marketing
strategy to share content that interests and informs different target
demographics
·
Replicate in-person marketing tactics by
creating virtual webinars, meet-ups and/or events
Fitness
With gyms and other fitness facilities being forced to
close, the sale of indoor fitness equipment and services has received a boost.
The smart bike app Echelon has already experienced a 40% spike in class
attendance. As well, the company has added daily-rides designed for children to
help promote physical fitness and support customers at home. As the
expectations of social distancing become more restrictive, it is recommended
people take part in some form of physical activity every day.
Many fitness professionals are joining the transition to
digital media by offering virtual workouts and personal training sessions via
social media, as well as other video calling platforms. Crunch and Planet
Fitness are prime examples, both adapting their services for online, and
even extending some classes to non-members for free. Personal trainers and
Instagram fitness influencers have also followed suit by offering their
programming online for free or at a reduced cost. The direct result has been a
surge in sales for home gym suppliers. Fitness equipment company Nautilus says
they expect an 11% rise in first-quarter net sales as more people
turn to home gym solutions.
The best way to shift your positioning during this time
is by offering products or services that meet customers’ at home needs. Two
ways you can adjust your marketing strategy is to shift the
focus toward products that are considered indoor essentials or consider developing
an online platform for some services by providing remote consultations. This
will demonstrate a willingness to help customers achieve their at-home goals
while creating a new opportunity for online reach and growth.
·
Expand your services to offer video fitness
training.
·
Leverage social media and reach out to people
who are willing to adapt the concept of fitness and home and offer your
product, training, and consultation online
·
Demonstrate how your business can complement the
fitness training at home at a minimum cost.
Entertainment
Online entertainment serves a vital role in the digital
media world. It was expected streaming content would see an increase in users;
however, the surprising growth has been in the video game sector. Game ad
spends increased 25% at the start of March with predictions that they
will reach their revenue peak as a result of COVID-19. In-game advertising,
especially through apps, is an often overlooked avenue for acquiring new
customers.
During the initial week of quarantine, Verizon reported
that the domestic use of video games during peak hours had increased
by 75%. Along with the rise in personal video gameplay, it is anticipated that
esports will also grow in popularity. The world’s largest video game streaming
platform, Twitch, announced its audience grew by up to one third in
March.
People are searching for comfort during these uncertain
times, therefore, the easiest way to reach them is through their devices. To
improve online positioning, businesses need to consider promoting their products
through entertainment channels such as recreational apps and streaming
services. It’s time to think outside the box and create relatable content that
connects with customers.
·
Utilize App Marketing
Services and PPC advertising strategies toward niche online
channels, targeting specific audiences through mobile apps and video games
·
Develop partnerships with professional gaming
influencers who can help promote your content
·
Consider optimizing your content for mobile,
making products and services easily accessible on smart devices
Today’s digital marketers need to adapt quickly
Right now marketers have to make quick, informed
decisions in order to generate quality leads, increase revenue and develop
strategic content.
Marketing agencies like offer a wide range of
services designed to support businesses. You can get help to updating your
website, create an eCommerce platform, create the software as a solution,
develop mobile apps or even utilize them for the right marketing strategy to promote
your brand at this difficult time.
It is important to recognize how the current global
crisis affects more than just the way we do business. The COVID-19 pandemic
continues to have a physical and mental impact on billions of peoples’ lives
around the world. During this unprecedented event, it is essential we come
together as a community.
