Data Driven Marketing Strategies During COVID-19 & Economic Downturn
Published by Kristian Curcio on May 11, 2020 2:05:08 PM
These days there is pretty much one thing that is certain, and that is, how uncertain everything is. You are not the only business questioning what your advertising message should be, and whether you should even keep advertising at all. With so many businesses struggling and people out of work, it can even feel a bit tactless to be pushing sales. Beyond that you’re probably wondering if you can even afford to pay for marketing right now.
Here’s the good news.
People still need to buy things and they expect to find those things through marketing. In fact only 8% of consumers believe that brands should stop advertising.
Many consumers are keen to support Australia’s economy, and that means continuing to spend money. This is a big advantage for your business if you can show how spending with you keeps the Australian economy running. This doesn’t have to mean your products are all Australian made. For example, your business provides jobs to Australians and flows through to spending in Australia.
Furthermore, with many big businesses pulling back from advertising, discounts being offered to help everyone afford to keep on spending, and shoppers moving to online platforms, there is actually an increased opportunity for many businesses to achieve a heavily discounted share of voice. If you have a business that can operate during COVID-19 shutdowns then this all means you can capitalise on a strategy that ensures a good marketing ROI by capitalizing on consumers increased screen time.
However, it’s not just about marketing. While the right message is important, people are particularly sensitive right now. This means your message is even more vital and getting it out at the right time is too. Your normal message and normal targeting methods may need to change. Everyone is living with the unknown. Fear, uncertainty and grief will be impacting people in different ways, but in big ways. Be aware of this in your messaging. Don’t push people away by playing on their fears or marketing in a way that even appears to be taking advantage of the situation. Now, more than ever, your message needs to be genuine and supportive if you want to connect with consumers.
According to the data collected by Facebook, there are a number of appropriate messages that are helping businesses manage the COVID-19 restrictions and economic downturn. These messages revolve around being sensitive to the pressures that consumers are under, providing for their current needs (including comfort), and being someone that they can trust during these times.
Being Online Creates Connections
A large portion of the population is now required to stay at home. Some are home, waiting until the day they can work again. Others are working from home, either at full or limited capacity. This means that virtually everyone is now connecting online. People are still connecting with loved ones, working, and shopping. They’re just doing it all online now via video calls or appointments that comply with social distancing rules.
This means that brands and businesses have an incredible opportunity to create and build relationships with consumers, using platforms that everyone is now required to rely on.
The message that helps is that you are a business they can connect with. Exactly how you present this message will depend on who you are and what you can do for the consumers who are looking to manage their new way of life.
Online shopping habits are Changing: Change with them
Online shopping is not new. One of the blessings of living through this pandemic is that we can continue to meet our needs through online shopping platforms. What is different, is what, and how consumers are buying. Knowing how your products help consumers in current times is more important than understanding what was popular two months ago.
For most Australians, financial concerns are currently outweighing medical concerns. Government restrictions have ensured that we aren’t facing hospitals in crisis. While this is great news on one hand, the population is now trying to balance the financial strain that the restrictions have caused. For your brand to connect, it is extremely important to be empathetic with the situation that consumers are in.
Supporting your customers and reaching your target market therefore means understanding the financial pressure they face.
People are looking for Content
People want content. But they don’t just want any content. They want to be educated, entertained and made to feel good. There are many people experiencing a life at home without the focus of work or dealing with reduced working hours.
The best way to reach people is to give out native, helpful content. This is content that fits with your brand and offers something of value to your consumer market.
Make sure your messages are positive, supportive and promote unity. This is where you will find the best opportunities for engagement.
Remember that people are facing a lot of uncertainty. Uncertainty causes people to take less risk and reassess their spending habits. They will, however, be seeking structure and clarity. Anything that helps give them a sense of normality, hope or comfort. This means they want to be led. But they want to be led by a brand they trust. It’s not just about creating content and pumping it out. It’s about creating useful content that resonates and meets people where they are at.
What is the Unique Role Your Brand Can Play?
Only you can answer this question. Perhaps you are offering to meet basic needs or providing a little more luxury to help them maintain their sanity. Your business could be providing security during insecure times or offering something that is familiar and comfortable.
It is important that you understand how your business can provide something useful to get consumers through these times. It is even more important to ensure that your message appropriately conveys this.
Overall, it’s about getting Your Message Right.
There is plenty of opportunity in the current market for businesses with the right message. The increase in online shopping, coupled with discounted fees and a slackening of large marketing push as big retailers sort out their own strategies, means now is actually a good time to develop a strategy that will generate tangible results. Get your content working for you then make sure it reaches your ideal client at the right time. This is how you will achieve positive, measurable ROI on campaigns.
Adapt your business to your consumer’s shopping habits, connect with them, and provide content that meets their needs. If you can do this then you’re getting your message right.
To help you find the marketing strategy that will work for your business we offer a free, no obligation, social media strategy.
You’ll find out how to:
- Use the daily insights Facebook are giving us for businesses to adapt their marketing strategies online
- Reach more customers online and deliver your message straight to their handheld device
- Funnel and nurture cold traffic into people hungry to buy
- Boost your conversions without spending anything extra on traffic
And after the session you’ll get a free social media funnel that will show you exactly what you need to do to convert cold traffic into highly engaged traffic and sales
Contact 500 Digital today to find a marketing strategy that will achieve real, tangible, results.
500 Digital Media is a Melbourne-based production studio with a national focus. Fluent in every stage of production – from concept and creation to social media strategy – we provide a full-scale and integrated end-to-end service delivered by our team of in-house experts.