The Covid-19 outbreak has impacted businesses worldwide. Several small, medium enterprises and eCommerce business owners have suffered from the economic downturn, general fear, and uncertainty. This blog explains how intelligent post-pandemic marketing strategy can help a business to reclaim their market share.
Small and Micro-sized enterprises are hit the hardest as many of them have shut close for good. With retail prices falling by a massive 2.4% in May, even the retail giants faced financial difficulties. The lockdown restrictions led to market stagnation, affecting industrial production and manufacturing, leading to severe supply chain disruption.
The eCommerce businesses also saw some losses due to a slump in customer spending. However, eCommerce holds a great chance to grow now, when the market paradigm has shifted to online shopping more than ever. According to the latest study, more than 8 in 10 (85.6%) buyers are likely to avoid shopping centers and malls. It shows that people are going digital and eCommerce stores hold a very strong chance to bounce back.
How Has Buying Behavior Changed Post Coronavirus?
The COVID-19 has changed consumer’s buying behaviours and spending patterns. Buyers have drifted towards online shopping more than ever now. The stats show that “48% of people have done more online shopping since lockdown.” Although online sales were popular, even before the pandemic. But now, retailers need to build a robust online presence and digital marketing strategy for the post-pandemic world.
Digital adoption can help you in many ways. Since very few people would opt for purchasing in physical/offline stores now. The recent study reveals that only “6% of will shop in-person after COVID-19”. Thus, you should open up doors for creative digital marketing and channels.
After the pandemic, a proven marketing strategy certainly includes creating a professional-grade website, promotion on digital channels, engaging customers online, etc. Moreover, you can employ the DTC (Direct to Customer) approach. It would help you to build long-lasting customer relationships and profit out the middleman commission.
Three Integral Parts of a Marketing Strategy
Before creating your post-pandemic marketing plan, you need to understand the three vital parts of any brilliant marketing strategy as it should aim to satisfy your marketing and business goals to get up and get running again effectually:
1. Analysis of the Current Situation
Analyzing and evaluating your current business standing is the first step. You need to understand your assets and resources, the obstacles you are facing, and market position. This kind of business diagnosis will help you graph the market and scope of your product or service to plan things wisely.
2. Action Plan and Goal Alignment
After diagnosing your current business position, you can now choose the best action plan for your marketing strategy. It should help you remove as many of those marketing and business obstacles as possible (among the ones you identified).
3. Implementation
Once you have the action plan, you are ready to decide “how” you will execute it. Proper implementation of your marketing strategy can involve a set of activities. It will require budget allocation, making adjustments when the market factors change, team coordination, etc.
Important Marketing Strategy Tips
Since the COVID-19 has changed the market and buyer’s behavior on multiple levels, your business needs a proven marketing strategy after the pandemic to sustain and nourish. Here are some tips that will help you to evolve your marketing strategy as per the emerging market paradigm:
1. Optimize Your Online Presence for Better User Experience
Initially, businesses used to rely on physical stores and in-person delivery. However, now, after the pandemic outbreak, you require to rely more on virtual communication. To ensure that your marketing strategy boosts your business, you can optimize your presence on online channels.
For instance, you can train your sales executives to offer remote services. You can make the most of digital channels to inform, engage, and sustain your target users. You can go for cashless payments, contactless delivery, etc. to grow your brand in the new normal.
2. Give Priority to Changed Customer Demands
The pandemic has impacted your customer’s demand and spending patterns too. Your customers are now more selective when it comes to investing in your products and services. To promote your business in the post-pandemic world, you need to have a solid strategy that fulfills people’s selective demands.
The pandemic has made digital channels extremely important. You can utilize social media, SEO, and other channels to target your existing and new customers. You can engage your customers through keyword-based targeting, engaging emailers, etc. and showcase your best available products.
3. Take Quick Decision and Start Implementation
Your decisions can influence your business operations to a great extent. When planning your marketing in the pandemic, you need to rethink and make decisions quickly. Once you have researched and analyzed the prerequisite information, you can implement and improvise your marketing plans.
For instance, if you have been confused to take SEO for your business until now, this is the right time to decide. As pandemic has accelerated digital change, your business needs a digital transformation, too, to grow.
4. Give Discounts and Offers to Your Valued Customers
Discount marketing can be a game-changer in your post-pandemic marketing strategy. You can offer discounts, giveaways, promo code, loyalty programs, and coupons on your products based on the current market. It will re-engage your customers and revive your sales. You can even offer contract-based services to make prospects make a purchase.
Since online behaviors and buying preferences have changed due to the pandemic, offers can attract your users. Whether you choose retail offers or eCommerce promotions, they will provide a purchase incentive to your existing and new customers.
5. Connect and Communicate More Often with the End-Users
Communication is the heart and soul of marketing, and it can either make or break a business. As a part of your post-pandemic marketing strategy, you should prioritize your communication plans. Refocus on your customer services, product promotion, and listen and respond to your end-users to meet their needs.
You can plan blogs, newsletters, social media posts, and emailers to target the broadest possible and the most relevant audience.
Thus, connecting and communicating with your customers can be beneficial to revive your business.
6. Focus and Invest More in Profitable Areas
During the current economic downturn, you can invest your money in formulating innovative marketing strategies to engage your customers. Focusing on the latest sales opportunities to expand your existing popular products can work as a low hanging fruit for you, driving better results in lesser time.
Since the world is going digital, you, too, can conduct your business online. You can build your brand awareness on digital channels, spend on driving website traffic, SEO, and SMO activities to reach your ideal customers.
7. Use Engaging Content Like- Social Media Polls, Webinars, and Live Q&A Sessions
Utilizing webinars and live polls, and virtual sessions can be rewarding for every business, especially in pandemic situations. They can help you to reach a global audience. You can address common questions and doubts of your audience and share your business plans after the pandemic. Moreover, you can enhance your brand value since the attendees are regularly exposed to your brand and offerings.
Social media polls can help you to increase customer loyalty. Your users can quickly respond to them, thereby maximizing your customer engagement. You also get in-depth insights into your target users. Thus, incorporating webinars and live polls in your marketing strategy can be cost-effective and useful in the present times.
Summary
The ongoing pandemic is posing different challenges for businesses worldwide. But with innovative and effective post-pandemic marketing strategies, your business can navigate the current crisis successfully. The above marketing strategies can help you to speed up your business recovery and bounce back in the market.
