Advertising budgets have been dramatically cut as is often the case when cost-savings need to be made in an organisation.
*65% of marketers anticipate a decrease to their annual marketing budget and
*86% predict that their marketing goals will be harder to reach.
Marketers are also having to deal with staff reductions, channel limitations and in some instances, are unsure of how to message. So, what do you focus on right now?
Keep talking, but be mindful of tone
What is important during this time is to keep communicating with your customer but in an authentic way that really puts them at the heart of the marketing strategy. Customers want reassurance from their brands, and to know that the brand is taking the right measures to function and provide services in a responsible way. They want to be reminded of the brand’s purpose. Brands with strong, long-term relationships with their customers will be the ones that recover quickest.
Adapt and evolve
Really listen to your customers and understand how their path to you/your product has been altered. Perhaps you can offer a better online service, improving levels of response and service, seamless delivery or collection. Those marketers that invested in online services over the last few years will now be rewarded.
Some marketers have done an ‘about turn’ with their brand as shown by Mastercard who offer digital experiences that are ‘priceless’ for their customers to enjoy as physical experiences became restricted. Customers can take advantage of dining out, live streaming events, exercise work outs, feng shui classes and cooking demonstrations amongst others.
Some specific areas of communication you should focus on right now are:
- SEO: More than half of marketers believe that SEO is more important during this time. (Corroborated by Google) *
- Mobile advertising: **Nearly half of EMEA marketers are hoping to allocate more than 25% of their budgets to mobile ads this year, spurred on by the coronavirus crisis and the resulting uptick in social media consumption and time spent in-app – whether that’s gaming, shopping or browsing.
- Increase your online following: activities such as thought leadership videos can increase engagement. Create apps to make engagement easier.
- Stay relevant: adopt live streaming as a way to demonstrate your product and bring your ‘voice’ and recognition to your customers. Live streaming allows your brand to become a little more personal for the customer.
- Live events: become interactive online showroom, webinar hosting and daily videos so that your brand continues to communicate face to face.
Have you taken the pulse of your marketing communications during Covid-19? If you want to check whether you should be doing anything differently give one of us a call on 01283 533196.
*Marketing Week – Conductor Survey ‘The impact of COVID-19 on Marketing (USA)