The Corona crisis and consumer behaviour
No one can yet predict what the economy will look like in Switzerland and worldwide in a few months’ time. In many European nations, the number of infected people is rising again, and restrictions are being tightened, especially in the major cities. Economic consequences ranging from dying shops in city centres to short-time working in many sectors are the immediate consequence.
The financial constraints automatically lead to a change in consumer behaviour. Many are forced to take a closer look at what they spend their money on. The private sector is expecting a reluctance to spend, while companies in all sectors are postponing daring investments and projects.
The restrained buying behaviour of consumers means that even absolute global corporations are expecting considerable losses. Classic marketing, which many companies traditionally do offline, will not necessarily help in this regard. In order to reach existing and new customers during and after Corona, other marketing approaches are crucial. These are likely to manifest themselves even more strongly in the digital world in future.
No unnecessary reduction of the marketing budget
Understandably, companies in all sectors are examining all expenditures and operating costs. If financial resources are lacking due to missing orders or declining sales, savings are indispensable. Initiating these in marketing is an understandable but strategically wrong step.
If companies cut their marketing budgets in the current situation, this will ensure greater visibility of their direct competitors. With less marketing and reduced SEO measures, the field is left without a fight to direct competitors who consciously want to defy the consequences of Covid19. The cooperation with an online marketing agency gives impulses to go new ways and not to make the mistake of the competition.
In this way, companies can send a strong signal to the consumer. Despite all the uncertainty, the customer will recognise that your company is present and demonstrates strength even in times of crisis. This subconsciously creates the perception of a strong brand, which accompanies them even in difficult situations in life. Another reason to rely on clever and new strategies in marketing, especially now.
The step towards digitalisation now indispensable
When old and new customers can no longer be reached locally, marketing efforts shift to the internet. The step of digitalisation has already been dared by various companies in recent years. Anyone who has lagged behind this development will no longer be able to ignore it in the post-Corona era. It can be assumed that in a few years, classical marketing will no longer be able to take place in the usual form.
The trend to withdraw from offline marketing can already be seen on various levels. This already begins with the small shop owner. If fewer people come into town through Corona, notices and flyers are less worthwhile than in the past. Posting is also associated with large wastage and therefore costs. The more efficient step is to expand your own presence on the Internet or to create one in the first place. This step may be greater for some people than for others. For this reason, experts, such as an online marketing agency, offer their skills and know-how. They support inexperienced companies with a comprehensive range of services in all areas of online marketing.
Digital strategies are also trend-setting for global brands. One example: the postponed release of major cinema productions to 2021 and 2022, and the screening of the new Batman film and the new part of the James Bond series has been postponed by several months. The production and sale of merchandising articles on location will take a back seat over this period. Instead, digital measures from stream to the podcast can be financed much more cost-effectively and risk-free.
Real brand proximity instead of branding for advertising purposes
Terms like brand building or branding are as old as marketing itself. The perception of being a brand should arouse positive emotions and demonstrate customer proximity. How close a business with its brand is to its customers with their wishes and concerns is not apparent from strong branding.
This has already changed during the Corona months. With millions of people worldwide suffering from isolation and social distancing, true closeness is more important than ever. A strong connection to brands can actually help to create new strength and positive emotions. But for this to happen, brand proximity must be authentic and not just part of a cleverly devised advertising strategy.
The trend is likely to continue after Corona, putting marketers in the role of developing strategies for authentic, digital customer intimacy. Social media are likely to play an even greater role than they already do. Direct contact with customers is possible via Facebook, Instagram & Co. Praise, criticism and the mutual exchange of ideas help both sides to understand each other and make themselves heard.
Social responsibility for strong brands
Crisis situations such as the Covid19 pandemic give rise to fears. Many people in Switzerland and around the world do not know what to do next. They lose their jobs or beloved fellow human beings are seriously ill with the corona virus. Yet even the best marketing and a strong bond to companies rarely helps to overcome these negative feelings and fears.
Many companies like to promote social commitment. They do so to clarify that while trying to maximise profits, they also acknowledge responsibility for social interaction. In many cases, this is unfortunately an alibi or just a facet of a socially-oriented marketing strategy. During and after Corona, it is a worthwhile consideration to seriously assume social responsibility as a company.
A good example in recent months is the British mobile phone company EE. This company provided people with disabilities with free minutes and additional data volume free of charge to make it easier to stay in touch with loved ones. Every company has the opportunity to follow this example and really help people in their difficult situation.
Seeking strategic partnerships for the future
Although the Corona crisis is affecting most sectors negatively, sectors are benefiting from the developments. Apart from the directly affected sectors such as medicine, pharmaceuticals and research, these included:
- Providers of streaming services
- Online platforms around courses & hobbies
- Food supplier
- IT provider for secure audio/video conferencing
- Supplier of accessories for home training
If your own business does not belong to one of these sectors, cross-marketing can give a boost to turnover. There are often regional suppliers in these and other industries with whom a clever strategy can be worked out together. With the involvement of an online marketing agency, well-thought-out concepts and solutions are created from which all participating companies benefit.
Cooperation with your company is primarily financially worthwhile for flourishing businesses in Corona times. After all, several companies pool their marketing budgets in order to gather a larger circle of interested parties and customers. In this way, each individual company can possibly save marketing costs and still increase its reach.
Understanding changes in everyday life
Regardless of how marketing resources were previously distributed between offline and online – no company should deny social developments. The everyday life of the average citizen is increasingly shifting to the internet. Many consumers have been watching Netflix rather than going to the cinema for months. They would rather order from Amazon than go on a shopping spree through the city centre. More likely to write a WhatsApp to each other than to meet in a café.
It is difficult to say how far this trend will decline once the Corona location has signalled itself again. Nevertheless, it remains to be noted: Over the years, everyday life is slowly but surely shifting more and more into the digital world. And every strong company should be present and visible here. Consumer behaviour is changing, as is the way they shape their everyday lives. At the latest the current development around Covid19 should give companies the impetus to accept this fact and to completely rethink existing marketing channels.
Practical tips from an online marketing agency on marketing after Covid19
Besides all the theoretical considerations, our online marketing agency would like to give companies some practical tips. These can be used to question current marketing activities and to plan the next campaign more intelligently, purposefully and digitally. Even if the proverb is considered hackneyed, it proves true in marketing during and after Covid19 all the more: Every crisis can also be seen as an opportunity.
Tip 1: Strengthening the digital presence
Digitisation does not mean to put a homepage online just once. All competitors will increasingly use the Internet to reach customers and run strong marketing campaigns. Businesses must follow this trend in order to present themselves as a strong partner on many digital channels. The possibilities range from the homepage, the company’s own blog and the use of social media to digital events.
Tip 2: Understanding the digital target group
In classical marketing, companies carry out a precise analysis of their target group. As far as usage behaviour in the digital world is concerned, there can be some unexpected deviations. This applies to the frequency and type of Internet use, as well as a preferred use of mobile devices such as smartphones and tablets. Once companies know these usage habits, the next campaign can be put together all the more intelligently.
Tip 3: Show real customer proximity
Companies should make themselves tangible and available. It is not only due to social isolation that old and new customers are happy to have strong partners to accompany them through life. This does not have to be achieved solely through the products or services offered. Firms can also demonstrate human closeness, for example, by expanding the use of social networks.
Tip 4: Demonstrating responsibility to the customer
People often assume that profits maximisation is the main focus of commercial enterprises. Yet, customers should be more than buyers of products and services. Companies should show that they take the concerns and fears of their customers seriously in a difficult time like the Covid19 crisis. This makes the company more human, which increases long-term customer loyalty more than any targeted branding measure.
Venture new paths with an online marketing agency
Nobody expects companies and service providers to spontaneously take exactly the right marketing measures. Every single decision-maker will have been economically and humanly overwhelmed by the developments of the last few months. When it comes to marketing, cooperation with an experienced partner can help. This partner is familiar with sensible strategies in the digital world.
As an online marketing agency, ONELINE supports companies from all industries and paves the way out of the crisis. Together with our customers, we develop ideas and strategies that turn the current crisis into a new opportunity in marketing. Trusting an expert in times of crisis promotes branding considerably, as does the digital connection with old and new customers.
