Marketing during COVID 19, what it means and what it could mean for brands

A time when factories are shut down, supply chain is disrupted and there are shockwaves across the global economy, businesses have been impacted down, right, and center. With months after Covid-19 first hit us, businesses have gradually started adapting to the turbulent times and are also changing the way they approach their marketing strategy.

Changing consumer buying trends

There has been a fundamental shift in consumer buying behaviour. Consumers are forced to stay at home with a simultaneous spike in demand for essential goods. Consumers are spending less and saving more. With an aim to not lose touch with their customers, brands have resorted to spreading awareness and positivity through their marketing campaigns.

Businesses should indulge in scenario planning to know the best and the worst-case scenarios in marketing. It is the best time for businesses to be empathetic and gauge the sentiments of their customers as well as employees. Brands need to build trust and not be opportunistic in driving short term sales.

Digital is the complementary new normal

The pandemic has inadvertently increased the time we spend with multiple screens. Time spent on smartphones has increased by 6.2% and with TV, 8% increase in viewing minutes per week. Brands, therefore, need to learn to ace their marketing game through increased public relations activities on different digital platforms.

A research conducted by Siegel+Gate, a global brand experience firm, has resulted in 8 themes in marketing across industries:

1. The human aspect of all companies and brands came to the forefront
2. Marketing was viewed as a key function in handling the crisis
3. All brand marketing efforts had to pivot significantly in the first 2 weeks
4. Purpose has played a central role and risen further in importance
5. It has been easier for some brands than others
6. Simplicity matters more than ever
7. Despite all the challenges, many silver linings have emerged
8. While uncertainty still reigns, most marketers are already planning for the future
   

    

The Global CMO of Siegel+Gate stated that Covid-19 is a great illuminator, casting light on every facet of leadership especially marketing. It has sped up trends such as the emphasis on purpose, digital transformation, and employee engagement. It has become more important than ever to meet customers growing demand in real-time. Marketers should continue to use data to track customer and employee sentiments to foster trust in the brand which is the core aim of marketing.