In the preliminary hysteria COVID-19 presented worldwide, many businesses turned inwards and thought to themselves, how are we going to deal with this? And several did not, in fact, 73% of Australian businesses attempted to access support measures, and 10% of those businesses closed permanently. For most businesses, when anxiety sets in, advertising and marketing budgets are the first on the chopping block. Businesses often think that reducing or even cutting their advertising and marketing budgets, will save them money and help their businesses survive.
COVID-19 has changed this.
With the astronomical increase in e-commerce sales and a slump in traditional retail growth, due to lockdown and social distancing laws, along came the inherent need for a bolstered, refurbished, and transcended marketing strategy. Most of this would rely solely on their digital strategy, as other channels related to marketing have been almost wiped. To put it into perspective, eCommerce spending within Australia has increased 49% from February to April this year, with physical stores bearing the largest pressure and decline in traditional sales.
What does this mean for my business?
This presents an opportunity for your business to not only diversify their marketing operations but subsequently spread risk and investment across a multitude of new emerging platforms and channels. It is important to stay adaptive, as consumer trends are changing ever presently, so are the opportunities that are waiting to be capitalised on. We have chosen to discuss – important aspects that will redefine your business’s digital landscape and help you thrive in this uncertain period.
1. Work Smarter not Harder
Most creative and content production methods are still resulting in significant cost savings for brands. Most brands are still relying on an archaic content and creative production model that was built for TV and print advertising, where each piece of content and creative was manually created, edited, distributed, and paid for. As Marketing channels continue to proliferate and as brands look to deliver relevance through personalized content and creativity, these costs have significantly escalated. Using solidified and tested marketing automation software and procedures, content can be repurposed, designed, and scheduled to never miss a beat, ensuring your business’s socials and digital marketing effort is efficient, streamlined, and cheap!
2. Experiment what Works
Particularly in light of the shift away from physical events or opportunities to engage with the customer face-to-face, experiential marketing has been thrust into the spotlight during COVID-19 as an attempt to tap into the need for customer-curated experiences. Brands that have had to pivot to digital events have been forced to innovate to keep the customer’s attention, which as many of us can attest to, is a real challenge when you’re separated by a screen. Experiential marketing can be effective for almost any brand or industry, and whether it’s through your website, webinar, or landing page, it’s about a complete focus on enhancing the customer experience. Some ideas for where to start:
- Experiment with new types of content
- Attempt to engage with new functions within existing platforms
- Encourage as much feedback as possible
- Involve the customer
3. Engage, Engage, Engage!
As daily routines have changed drastically, the opportunity has arisen to increase engagement with different consumers at different times with different content. Multiple studies have identified changes in the ideal post frequency and time. This proved a vital point that the companies that engaged the most effectively with their consumers and target audience, reaped the most benefits from conversions. This goes to show how quickly behavior on social media can change in line with audiences’ changing daily routines. Shifting patterns of focus between remote work and school, changes in primary device usage and restrictions on activity have significantly changed how audiences interact with social channels over the course of just a few weeks. It is important to stay fluid and understand when and how to pivot your digital strategy to counterpose and capitalise on the shifting consumer trends, constantly keeping your audience engaged.
Want expert marketing advice and assistance?
Here at BUSINESSNAV, We offer various marketing services that are tailored to YOUR business and that will subsequently create sustainable growth and a bolstered brand identity.
CONTACT US AT firstname.lastname@example.org