Unique Ways Brands Are Shifting Their Marketing Strategies During Covid-19
July 14, 2020
Amid the current Covid-19 pandemic, we, marketers are looking at ways to quickly shift our strategies so we can keep attracting the quarantined consumer.
Many brands have shut down their retail stores. DTC is now the business.
In this short post, we’ll walk you through the life of a quarantined consumer and how their purchase behaviors have shifted during this pandemic.
How Covid-19 Changed our Purchase Behavior
According to a recent survey by Traub, the quarantined consumer spent more time on social media apps and streaming. During this time, the consumer is looking for ways to stay connected with friends, family, and most importantly the businesses that can deliver their needs and wants.
Retail had to shift to ensure they can cater to the quarantined consumer. Retailers are offering services like Buy Online Pickup In Store (BOPIS) and delivery services to continue generating revenue during this pandemic.
For DTCs, it’s a different story. Categories considered to be essential products (Apparel & Accessories, Activewear, Electronics, Hardware & Home Improvement, Health & Beauty, Housewares, Home Furnishings & Garden, Office Supplies, Specialty, Sporting Goods, Toys & Hobbies, Education and Telecommunications) are the fastest-growing categories according to data from Klaviyo.
The quarantined consumer continues to shop but their needs have changed.
With consumers spending more time on their smartphones, it’s more important than ever to reach them where they are.
How To Keep Up With The Quarantined Consumer
With the consumer spending more time on digital, more marketers are pivoting to digital as traditional channels are no longer viable. According to Taylor Holiday from Common Thread Collective, a top-performing digital ad agency, CPMs are lower and overall ROAS is up for their digital spend.
For marketers, this is the opportunity to double down on digital.
I am happy to see that many businesses have quickly pivoted to digital to keep up. Shopify’s COO reported seeing more sign ups for online stores since March vs pre-covid.
For DTCs it’s about speaking to the customer’s needs and adding value to their very long days.
With the ever growing scarcity in essential products, it’s important to leverage digital to reach customers directly for both top of funnel acquisition, and retention.
Forward-thinking brands are using SMS to stay in direct contact with their customers, send updates, back in stock notifications as well as delivery updates.
How Conversmart Is Adding Value To Brands During This Pandemic
Timeliness is as important as ever. During the panic phase of covid-19, many shoppers stocked up on essential needs, and many products in the essential category went out of stock.
Many of these products are now back in stock and brands need the most direct way of notifying their customers.
At Conversmart we’ve been leveraging text messaging to notify customers with important updates so they can get the products they need.
With close to 99% Open Rates and 50%+ Click-through Rates, the brands we’re working with are selling out their products with their SMS channel alone.
If you are looking to reach your customer with the right product, now is the time and text messaging might be the right channel for you.
How This Pandemic Will Affect The Future Of Marketing.
In 2003, SARS hit China. This was right before one of China’s biggest tradeshows called The Canton Fair. Because of this, Jack Ma turned Alibaba from a B2B marketplace to an online marketplace so buyers wouldn’t have to attend the tradeshow.
The Canton Fair’s attendance rate dropped 80%. From 2003 to 2005, Alibaba grew from $10 Million to $1.2 Billion in sales.
Today eCommerce accounts for 36.6% of all retail sales. Versus just 15% in the US.
Experts say, if you want to learn eCommerce trends, follow that of China. The covid-19 pandemic is showing unveiling this same trend in the United States.
Just recently, MarketWatch published new data showing that eCommerce will account for 25% of all retail sales by 2025.
As consumers continue to shop online during this pandemic, they will not only discover new brands but they will also realize how easy and convenient it is to shop transact online.
As more consumers arrive online, this is the biggest opportunity for marketers worldwide to reach more customers where they are.