Given the current situation it may seem like this is not a time to talk about marketing performance, however it’s during times of crisis that it is most important to keep a close eye on how much you’re spending and what you’re spending it on. It is a natural reaction to want to cut cost on marketing during times of economic uncertainty, nonetheless, if as marketeers we stay calm and analyse consumer behaviour there is a strong business case to be made for maintaining and even expanding marketing efforts.
Working remote is the norm at the moment and this change in our way of life is going to be fundamental during COVID-19 and after it’s over, this of course will have a significant effect on people’s online behaviour. By being forced to work this way many companies have now realised that there is a lot to be gained by working in such a way.
Something else that is increasingly valuable at the moment is possessing real-time ability to track web trends, social trends, or anything else that may help read the situation. Competitors are going through the same performance insecurities, so from a business standpoint, adaptation based on real-time trends holds the key to moving forward.
Content is now even more crucial than before, while companies are going to be prioritising organic access to audiences, creating quality content and using reliable communication channels is a legitimate action plan to not only maintain, but strengthen the connection with the audience. A strong connection leads to customer loyalty and loyal customers are the ones marketeers ought to value the most as they are unlikely to leave you during a moment of crisis like the one we are facing.
What can we do as marketeers to make the most of the current situation?
Experts are saying that as overall traffic decreases, competitors begin to pull out and ad rates drop to compensate. This is a an opportunity for marketeers to reduce spending while maintaining presence in front of their target audience.
Understanding online consumer behaviour is fundamental in order to define a strategy to face and overcome this moment of uncertainty. Media consumption has spiked all across the globe, with 36% users reporting that they watch more news, 27% watch more shows, 21% spend longer time social media and 18% engage in gaming. Live streams are also thriving, Conviva reports a 26% increase in streaming during the pandemic.
Observing where people are spending time online is very important, if we understand how they are behaving we can define a digital marketing strategy that will place relevant ads at the right time in front of the desired audience all while taking advantage of the lower PPC.
At Kenshō our diverse client portfolio enables us to understand how COVID19 is affecting marketing performance across different industries. By means of experience and our skillset we can support you during this difficult time and add value to your business while strengthening the connection with the audience.
Reach out on our website kensho.marketing, we want to help companies through this challenging moment.