The world now is not the same as it was last year. A man ate a bat in China and all our lives went berserk. More than a third of the global population went under lockdown. The world witnessed the greatest economic downturn since the Great Depression. From the way we communicate to the way we shop, this pandemic has changed different aspects of our life. How can we assume that it won’t affect the existing marketing strategies? Besides a healthy lifestyle, consumers these days want services instantly right at their fingertips without having to step out of their homes. 

The COVID-19 crisis has forced businesses to adopt sharper and more creative marketing strategies to target customers. Even reading 4p of marketing assignments may not help you in this scenario. So, here are the four major ways this pandemic has impacted marketing strategies irrespective of the industry. 

• Reduced costs on television or traditional advertising 

Image source: https://mindholding.net/tv-radio-ads/ 

The British TV ad market has already announced that they estimated a 10% decrease in revenue due to the pandemic. The TV advertising market in India is also estimated to decline by nearly 10% to 20%. There are two reasons for this reduction in TV ad revenue. One- Various major sports content or popular events have been cancelled. Two- most of the TV shows are displaying repetitive content due to cancellation of shootings since the pandemic. All in all, people have run out of reasons to watch televisions. Thus, marketers must cut costs on TV ads and invest in alternative options. 

What are the alternatives to traditional advertising?

• Grow your email list– Send promotional emails to retain existing customers and attract new ones. Use what you know or understand about your target audience so that you can convey a relevant message to them via your emails.
• Focus on organic social media growth– Let your target audience know where they can find you on social media and request them to follow you. Show off your brand personality along with the faces behind your products on your social media channels. 
• Connect with social media influencers– It is estimated that nearly 19% of marketers will spend at least $1000-$10,000 per year on influencer marketing. Connect with social media influencers and encourage them to promote your products or services. 

As per an article by WARC, the Olympics could have increased TV spend by close to a billion in the United States only. However, the postponement of the same event affected both TV ad spends and online publishers. TV isn’t a reliable medium anymore to make your brand visible among your target audience. You have to cut down your TV ad costs and invest that amount in other marketing channels.

• More investments in online marketing tactics 

Image source: https://www.fourthsource.com/search-marketing/ 

Let’s consider a family of four in a regular US household. It consists of a mother, a father and two siblings aged nineteen and twenty-one. The siblings had been familiar with online shopping or rather the online platforms like Facebook, Instagram, etc. However, this pandemic compelled their parents too to be familiar with such online platforms. This is just a relevant example of how the client base of several online platforms has increased considerably, especially during this pandemic. Digital marketing is the only way for businesses to come onshore and enter the sea of opportunities during this COVID-19 crisis.

Here are the basics of digital marketing:

• Define your KPIs– KPIs or Key Performance Indicators determines the success of a campaign. From your website page views to click-through-rates or CTR, KPIs include everything. 
• Build brand awareness– Focus more on views and impressions rather than conversions and clicks regarding your business website. Bring your business in front of as many people as you can.
• Target local areas– Before a global outreach; try targeting your local audience. That is how you can earn the trust of your local customers first followed by a broader set of audience. 

As the pandemic spreads further, it is quite evident how people are learning to cope with the ‘new normal.’ Brick and mortar retailers have lost a significant number of customers due to an increased demand for stay-home orders. Thus, you must embrace smart digital marketing tactics to survive in this highly competitive digital environment. It’s time to go ‘digital.’

• An increase in demand for content marketing  

Image source: https://www.bluenovius.com/multichannel/content-marketing-for-pharma-2/ 

Certain countries such as New Zealand or Australia have begun their unlock phase keeping certain social distancing norms in check. This proves that distancing will still be a norm even after the crisis is contained. People will still want to research services or products online before actually trusting a company. Let’s say you want to visit a restaurant after the pandemic is over. Won’t you know about the safety protocols followed by the restaurants first?  Then you can pick the one that meets your expectations or requirements. The same thing is applicable to people searching for your products or services.

Here’s how you can educate your target audience through relevant content:

• Develop a learning centre- Prepare an online learning centre on your website regarding the COVID-19 updates along with guides, webinars, etc. related to your business. 
• Use online learning tools- You can also create automation tools or applications that could cater to your customer’s needs and demands. For example, Neil Patel brought forth Ubersuggest, which helps people get keyword ideas for their clients.
• Add fuel to your blogging efforts– Write quality blogs on highly researched information for your target audience. Make sure your blogs or other content are relevant to your business and consists of well-structured information. 

Remember, there are thousands of other companies in your niche, trying to establish a position in this pandemic situation. The winner will be the one who is able to connect with their customers and build healthy, trustworthy relationships with them. And content marketing is certainly one of the most remarkable ways to achieve that. Industries such as restaurants, transportation, real estate, etc. have the potential to attract potential customers through robust content marketing. 

• A new demand for an effective response to the crisis 

According to a study by the American Association of Advertising Agencies, 56% of consumers feel happy about companies that help in a critical situation. You have to make your target audiences believe that you are also a part of this pandemic and your business would do what it takes to serve the ones in need. People tend to trust those brands that are supporting affected communities and offering much-needed help in healthcare institutions. So, take a step forward and make levity, resources and relief an integral part of your marketing efforts.

Examples of brands responding to the crisis:

• HubSpot- This company introduced support measures to help customers adapt to these challenging times. From creating a new HubSpot community to including new content series, HubSpot made a remarkable impression among its target audience. 
• Quasar– They offered aid on business continuity during these times of struggle. Quasar expanded its manufacturing capacity to help medical device firms as well. 
• Sisense– This brand helped communities and customers fight this deadly pandemic with analytics. It is also offering relief packages along with professional services and strategic consulting. 

You have to provide your customers with a reason to trust you over other companies. Besides following the examples, you can try offering special services, discounts or even resource pages to attract consumers. The economy is at the edge right now. So, make the best use of this scenario by providing special offers for your customers.

Wrapping Up, 

The pandemic has changed the way we buy or even use products and services. And marketing teams need to adopt the strategies as discussed above to cover new ground and confront unprecedented challenges. Before setting up any kind of strategy, first, understand your audience and keep a check on the platforms they are particularly using often to look for your nature of business. 

The COVID-19 has changed consumer mobility and caused shifts in media consumption habits. There are shortages of goods manufactured in China, which has led to economic volatility throughout the world. Sticking to existing marketing plans will not help you move forward. So, gear up to adapt to new and improved marketing strategies to make your brand visible. Good Luck. 

Author Bio: Mark Hales is a part-time professor at a reputed university in the United Kingdom. He also offers assignment help to students at MyAssignmenthelp.com. Mark loves to spend time with his daughters whenever he is free.