Gradually things are starting to get a little bit more ‘normal’, lockdown is easing and the economy is opening up again. Along with everything else, buying habits are all over the place right now and businesses are having to get more and more creative with their marketing and advertising strategies.
Buyers are shifting their preferences in terms of channels they’re using, content formats, behaviours as they respond to the current situation. There’s no tried and tested formula for businesses to follow right now as everything’s in a state of flux, but here are some tips for tweaking ad strategies:
What’s the Impact?
Carefully monitor what’s changing in your business – which products are selling really well right now? Try to push more and dial up your marketing for products that people are still responding well to. Shift your ad spend to support products that you think will appeal to customers at the moment or trends that have been created during the lockdown, such as garden items or home décor pieces.
During tough economic times, consumers tend to push brand loyalty to the side more and look for bargains, so tweaking your prices and combining this with savvy promotional ads on paid search and social where ad prices are down in some areas could give good results. Straight-forward promotional offers and low cost-per-clicks can boost sales.
It’s difficult to gage how consumers have reacted to coronavirus, as people’s responses in all areas of life are so individualised at the moment. Someone who usually goes shopping a lot and spends a good amount might have completely stopped buying because they’re fearful and nervous and vice versa.
Workers are being furloughed, whereas some might not have as much security and be relying on savings, but they still might be spending money on products because it provides some comfort. Psychologically, it’s tricky to predict shopping behaviours right now.
Reaching out to customers with online surveys and virtual focus groups can give you some really valuable insight into how they’re thinking right now. This allows you to provide products and messaging that’s more empathetic and can address concerns, such as customers that are worried about how products will be delivered and whether your company is taking health and safety seriously etc.
While it’s important to act and pivot towards customer’s online behaviour now, you’ve always got to keep the longevity of your business in mind too. Quick wins and advertising that caters towards short-term buyer behaviour is good, but try to plan for campaigns and set aside budget for long-term trends and recovery.
Trying to do some overall brand awareness building is good, because you want customers who’ve shopped with you for the first time during covid-19 to continue to buy your products. Try to come up with content and offers that you can target at first-time buyers that will incentivise them to return to your business and continue their relationship – put building blocks in place for post-lockdown.
For more advice or help, get in touch with us here at DOWO.