The novel Coronavirus has triggered a shift, impacting people’s health and livelihood. Living in these uncertain times, families have adjusted well to today’s quarantine economy. Lockdowns have transformed the way people shop, triggering a profound shift in shopping behaviour. And there is a chunk of shoppers, including millennials, have started to move away from physical store shopping to online shopping.

In this blog, we will delve deep into the top marketing strategies that will have a great impact after this pandemic. It is time to rethink your marketing strategies in this unpredictable environment.

Both in Marketing and chess, if you end up making the wrong moves, you will suffer the consequences. So, construct your every marketing move in a way that you win in the end.

Moving towards a Direct to consumer (DTC) Model

Today, the customer connects with a brand in a variety of ways; if your brand is not the one where customers expect to find, you will miss the opportunity to establish a meaningful relationship with customers. Those who adopt the Direct to Consumer model, are in a win-win situation because it lowers costs and prices by bypassing third-party retailers. This model enables brands to respond more attentively to customer feedback and gather customer data to make better business decisions. So, make your products accessible online for your consumers.

Spend your advertising budget wisely

During the pandemic times, many people have made that shift to working from home. It has become part of everyday life. As people spend more time at home, they get glued to Connected TV, OTT and Audio. With programmatic advertising, there has been a significant shift in ad formats. This type of advertising is sure to improve the ad performance of your brand.  For example, the global rollout of Spotify podcast ads in Q1 2021, is a leap forward for audio advertising to connect with listeners.

Few brands who were not much in the digital marketing scene before the pandemic are moving towards online shopping now. With technology, the consumer’s shopping journey is also evolving. You see a few customers buy from your physical store and a few online. Therefore, you need to reassess your marketing budget wisely and accordingly.

The growth of new platforms

It is time to think about where the users spend more time online. There are emerging platforms like Twitch that have seen massive growth over the lockdown period. The businesses should be alert to provide their ads to reach and engage their customers on these platforms.

Facebook, Instagram and Twitter are other platforms where the users spend most of their time. These platforms are robust and prove to be valuable means to reach and engage your consumers. Your consumer needs vary depending on time and context. Has your business adapted to the digital consumer lifestyle? If not, be there where your consumer is!

The rationale behind Coopetition

Coopetition is a collaboration between competing firms to achieve various innovative-related benefits and foster mutual benefits. Thus, collaborating with your competitor can be a great idea because interfirm relationships are considered a strategic asset in the current fast-moving competitive environments. The coopetition strategy enables companies to integrate their resources and produce goods based on their standards with fewer risks and better efficiency.

Many firms started using this strategy to increase their market size and products and services. A famous example is a collaboration between Pfizer and BioNTech SE. Is your business geared up for a coopetition strategy? If not, step into the new era of coopetition to navigate systematically.

Know Your Consumer Mindset

Consumer shopping behaviour reveals seismic shifts after the pandemic. It has changed their perception of health, safety and home. And they are more concerned about safety, guaranteed delivery and commitment. These things have altered consumer behaviour. So, they have become cautious and frugal. The businesses need to be ready and to expect what’s coming. You need to invest in product experience and innovation to drive growth. Is your business prepared for a new approach to deal with your consumers?

Platforms like YouTube allow businesses to identify consumer behaviour. So, use YouTube trends to determine what your consumers are watching and learning and use this to improve your strategy. Thereby, it enables you to build positive brand perception as well as drive direct response KPIs. Aim for progress and get your business ready for action.

Today, the customers demand personalization in everything. They want companies to evolve with their wants and needs, moving beyond traditional offerings to make them hyper-relevant. The digitally savvy customers are constantly re-evaluating their processes. They choose a brand or a provider that is most relevant to them at the moment.

According to a report titled ‘Digital Advertising in India 2021’, the digital advertising industry has grown by 15.3 % and reached Rs. 15,782 crores by the end of 2020.

Remember, digital landscape advertising is ever-changing. Therefore, it is time to think about your next digital marketing move to win the game!