Navigating the COVID-19 Shift: Your Marketing Strategy for 2021
Covid-19 has had a huge impact on commerce throughout the entire world. Planning for 2021 may not be as exciting as years past. But there is hope for businesses in 2021.
In years to come, there’s little doubt that people will remember the sea of changes wrought by the COVID-19 pandemic in daily life. Where marketing is concerned, there may be a particularly sharp divide between the pre-pandemic and post-pandemic era.
How Is The Pandemic Driving Shifts in Consumer Behavior?
The financial uncertainties people have experienced as a result of the pandemic are causing consumers to choose very carefully. Businesses are deciding how to carefully allocate their dollars. People are looking for quality over quantity! They want products and services that fulfill a need or solve a problem. Even during the holidays, consumer spending is likely to be limited.
Roughly 33% of consumers are expected to stay out of the brick-and-mortar stores entirely this holiday season. Another 34% plan to mix their shopping about evenly between in-store purchases and online. Businesses will be far from completely empty. However, good online engagement and an effective e-commerce strategy are more important than ever for attention and survival.
How Are Financial Issues From the Pandemic Affecting Marketing?
Marketing, as a whole, already suffers from the perception that it’s an “accessory” service. Marketing budgets are often the first to go. For whatever reasons, businesses believe they should invest in marketing only once it has a little excess money. Businesses of all sizes frequently delay their marketing efforts without realizing how integral marketing strategic involvement can be to their success.
When money’s tight, businesses do the same thing that consumers do: They scale back. They try to identify their needs and prioritize those over wants. Far too often, that means they cut their marketing budgets.
Statistically, that’s the wrong approach to take.
Companies are better served by devoting more attention to their marketing efforts in a recession — not less.
Studies have shown that advertising during a recession can lead to a 1.5 average increase in a brand’s market share, and brands that increase their advertising grow about 275% faster than those that do not.
What Can Marketers and Brands Do to Pivot With the Changes?
Marketers are facing unique pandemic-related challenges just like everyone else. Not only are many marketing teams working remotely, so are many of their clients. The scramble to adjust to shifts in consumer behavior and demands is unmooring a lot of well-established marketing strategies. It’s no longer always a simple process to get all the talent needed for a business lift.
Putting new plans together can be difficult. In the past, planning for the following year can be exciting. Team members that were once in charge of strategy may or may not be a part of your business anymore. Today, businesses are more hesitant to make major moves with potentially costly decisions.
With marketing dollars tighter, both brands and marketing companies alike need to make each dollar count. That means improving the collaboration between teams and boosting productivity despite distances. Businesses in 2021 will need to find new ways to par down the costs.
Discover Ways To Change Your Approach
Marketers and brands also need to change their messages. An online presence is going to be more essential than ever to a brand’s success (or survivability). The message coming from a marketing campaign or brand needs to change, as well. Consumers need to know how a certain product or service provides value compared to cheaper alternatives. Businesses in 2021 will need to know why they need to make the investment instead of skipping the purchase altogether.
Software as a service (SaaS) platforms can help small businesses and marketing service providers alike. The right SaaS platform can give businesses of all sizes the ability to maintain their existing relationships and stay afloat in uncertain times. At Red Canyon Media we aim to encourage growth with our marketing partners and small businesses, alike.
Plan For Adaptability
At Red Canyon Media, our marketing roadmap automation, package builders, and in-app communication make it easier for everyone to get what they need at a minimal cost. The real-time reporting and total transparency offered on our SaaS platform show clients when a specific strategy stands. Create value by providing real-time, transparent results to your clients. Scale easily (up and down, as needed) with our in-app fulfillment team.
The pandemic has, without any doubt, forced everyone to tighten their belts. Businesses have learned the hard way to rapidly adapt. There are plenty of opportunities out there for those who acclimate quickly.
Let’s prepare for a happier, healthier 2021 together! Work with scalable white-label SEO workflow management and fulfillment – Learn more about the Red Canyon Media platform.