It goes without saying that the only impact of Covid-19 which is really of any importance is the impact on human life. But, for those of us fortunate enough, life does go on (we hope cautiously) – just not in quite the same way. Lockdown and Covid-19 has affected every sector in some way. Some general marketing trends are emerging and we thought it might be useful to blog about them…
Is it all doom and gloom?
With the latest Marketing Week report concluding that 65% of CEOs anticipate a decrease in budget post-Covid-19 and 85% thinking that marketing goals will be harder to reach, you could surmise that it’s all doom and gloom. But, when you consider that over 50% of marketeers who took part said they were investing more in online and SEO strategies, 35% therefore do not anticipate a decrease in budget and that it is very early to predict any longer term impact, this perhaps represents a ‘pivot’ rather than a downturn.
In addition, this – and most of the surveys mentioned in this blog – represents the larger national and global brands rather than small, independent businesses. Some of whom – particularly independent food and grocery retailers – have actually seen an increase in customers as a result of Covid-19.
A shift rather than a decline?
This econsultancy round-up is one of the most comprehensive we have seen. Predictably it shows that bricks and mortar retail has decreased but that online retail has increased. Many organisations have disclosed a decline in advertising spend but also that they are identifying new strategies and innovations. This, again, suggests perhaps a temporary transitional period – while businesses take time-out to consider what and how to sensitively advertise in new normal – change images (e.g., of social interaction) etc – rather than a longer-term downturn. We provide an image selection service and have already helped a number of clients change their marketing output to make it more relevant, sensitive and effective post Lockdown.
A surge in new businesses?
Understandably there is concern about job security. Though we are in unprecedented times, historically job insecurity has often led to a trend in people ‘taking matters into own hands’ by setting up their own businesses. In addition, crises often result in a reassessment of what’s important, actually leading people to take more risks rather than less. We love working with new brands and start-ups and if this has made you reassess things we would love to support you in any way we can.
More opportunities for independent businesses to compete with big brands?
The media we consume is changing. 22% people admit to actively avoiding mainstream news. This may create advertising opportunities for alternative media which is more affordable to smaller brands. Across social media many people are switching back from Instagram to Twitter and there has also been a 50% increase in Facebook messaging in hardest hit countries. So, again, this suggests a shift rather than a downturn. Consumers want practical information, particularly from travel brands etc, but also generally – which suggests there are opportunities to communicate better with them. This is an area where independent businesses, with more personal client and customer relationships, may be able to take the lead.
Support for marketing teams managing change
As well as working directly with business owners, we also work with marketing teams and provide third party support to creative agencies. This report shows that marketing specialists are having to reprioritize or shift messaging quickly and work with ever-changing budgets. Although the way we work has changed, Marcomedia’s ability to turn high quality work around quickly – and often save our clients money in the process – is something that hasn’t changed.
Whether you are having to review your marketing output quickly or whether you want to do more online or explore alternative media, call our team on 0208 590 0922 or at info@marcomedia.co.uk We are here for you throughout lockdown and beyond … #StayHomeSaveLives #StayAlertSaveLives