Most marketing plans for 2020 went out the window in mid-March. The coronavirus shuttered vast portions of the country and turned purchasing behaviors upside down. As the economy looks to re-start every business will need to consider what happened and decide how to market for the remainder of the year. Whether you work with an advertising agency or on your own, here are some things to consider.
Goals
Almost every company will need to reassess their goals for 2020. For those that were closed by the pandemic, projected objectives for the year are probably no longer attainable. Even businesses that stayed open will need to re-examine expectations for the year. Where the company is located and how re-opening occurs will play a role in determining how much business will be done for the remainder of the year.
Consumer Behavior
Companies need to understand how the pandemic has changed people’s behaviors. Will new behaviors impact your business? The food service industry needs to figure out how to serve as many people as possible safely. Service industries may find more clients want remote consultations. B2B brands may find that their target audience no longer works in an office. Some changes in behavior may help, others may provide an obstacle. Every business needs to understand how changes will affect them.
Changes in behavior will also influence how you market. Already a staple of the media landscape, mobile saw usage surge. Consumption of video spiked across many demographics. More than ever, digital media must play a prominent role in marketing plans.
For businesses that remained open a review of who their customers are should be performed. In some cases, the customer profile has changed. If your business closed and is now re-opening do you expect the customer base to change? What changes will you need to make in terms of products, service features or benefits?
Now more than ever customers are precious. Any revised marketing plan needs to prioritize customer retention and maximizing the value of each customer.
Revised Marketing Messaging
We have all seen how sensitivity in messaging affects perception of brands. Emotion plays a huge role in purchasing decisions. Some will want to immediately “get back out there”. Others will not want to re-enter the “norm” until a vaccine exits. Those in the middle will venture out cautiously. During these times emotion will be an even stronger motivator of decision-making. As time progresses, we may want to move messaging from social distancing to social solidarity. We are all in this together will continue to resonate for a while.
Any messaging that promotes well-being, health and germ control will be heard more clearly than claims about sustainability, naturalness or quality. Products that boost immunity and health defense will be popular. And, consumers will probably prefer “economy-size” and bonus packs as incentives so that they can reduce trips out. There is also a trend towards local products as people want to support their communities and boost their economies.
2020 promised to be an interesting year for marketers even as it began. With both the Olympics and presidential election things were going to be lively. Even now forecasters think as much as $5 billion dollars could be spent on the upcoming elections. Some of the “Olympic money” will need to be spent this year. As a result, the Fall could get quite busy.
Currently, the media markets are still soft. Plenty of inventory exists in traditional media and cpm’s are down in digital. If your marketing was paused or reduced during the pandemic the sooner you ramp up the faster you will recover. Have plans in place for as many variables as you can plan for, including a second wave of the virus. Marketers who were nimble during the outbreak fared better than those locked into regimented marketing plans. There is an opportunity for many businesses to get back a substantial portion of business that was lost. Revise your marketing plans and get to work!
