A new survey taken of nearly 300 marketers at for-profit US companies has shown us some revealing traits about how drastically the Covid pandemic has changed the landscape for anyone marketing products. Since in-person marketing engagements have dropped (or disappeared) so drastically, consumers are now more open to digital mediums to receive the message about your brand.
When companies have been seen making an effort to promote social good, it has now been more widely received, and all of this behavior has led to changes in marketing investments and strategies to adapt to the “new norm.” It was found that the economic and social disruptions caused by the virus stay around for many months, and it could be a challenge to shift marketing efforts in a timely enough way to yield success.
Here were some key elements discovered among the findings of the survey:
- Trusted Relationships are a Priority: The largest percentage of marketers surveyed expect customers to have a greater focus on “trusting relationships” with a desired brand than to simply be concerned with low pricing. Even though the economy experienced a downturn, 79% of CMOS have proven that customers are now keeping a close eye on outreach, activism, and what causes companies support. Brands that have a good value representation will now obviously see rewards over time.
- Digital And Online Presence is Life or Death: This important survey also revealed that between February and May of 2020, online sales have risen by 43%. Now that it is so necessary to boost your online presence, consumers are more responsive than ever to digital offerings. Looking forward to the future as an agency, we predict that trend to persist even when the world goes back to normal. Even though budgets will shrink, the share that goes to digital will have to go up drastically for many entities.
- Social Media Will Become Even Crucial as a Tool: With these findings regarding customers’ need to experience loyalty and trust, social platforms are very efficient as a means of engagement. 84% of respondents claimed success with using social media for brand strengthening during the pandemic, a 74% increase since February. It’s not just Facebook: many are jumping on other platforms such as Instagram and Pinterest as they have had a bit more time on their hands.
Being Resourceful Will See You Through to The Finish Line: Since the majority of the marketing world was completely caught by surprise when the pandemic began, departments in firms everywhere are having to do more with less. Most marketers surveyed considered themselves very unprepared and recognized that to conquer the future they will have to be very innovative and resilient. Some in your crew may be learning how to do anything from editing video to teaching people how to sew masks, and doing so fairly quickly!