Updated: Mar 31, 2021
The coronavirus is evidence that the bottom line is the only thing that matters when the going gets rough. Brands are facing unpredictable demand, the ripples of which are to be seen in many industries. Companies will try all possible ways to compensate for lost sales & earnings and in this one year they will have to improve themselves more than they have changed in the last decade.
We can see today that businesses are divided into two groups: either those overwhelmed by orders (groceries, household products, pet supplies, pharmacy, and general merchandise) or lack of orders and interactions (automotive, furniture, luxury, appliances, and hospitality).
The general shopping environment, on the other hand, is shifting like never before. Shoppers are making use of a combination of digital touchpoints during the purchase journey from Search engines, social media feeds, and influencers are common places for shoppers to get product inspiration.
As per Deloitte, 14% of shoppers now make purchases via social media. Companies who are the quickest and most agile to adapt to the new reality will have a considerable edge in the industry and will become business leaders to follow. For that, marketing will play a key role, it brings more sales, new clients and, more importantly, builds and enhances the brand's customer loyalty.
Covid-19 has forced companies to face some glaring conclusions, the rush that many organisations, big and small, B2B or B2C, have gone through to digitalize their entire workforce and production processes has now put more importance than ever on a demand for modern teams who understand digital transformation and marketing focused on success and growth through digital assets and platforms.
Having a digital strategy is a no-brainer, but pivoting and innovating while remaining socially conscious will be very important, too. Messaging will increasingly focus on video, with such advertising becoming an ever-larger part of the strategy pie. Most senior marketing decision-makers will focus on resilience post-pandemic, but digital transformation is a key consideration, too.
We would be glad to part of your growth journey as a trusted digital partner, contact us to explore how our services can add value to your business.