Coronavirus pandemic has impacted countries all around the world. With no cure in sight, social distancing is the only way to limit the spread of the virus. During these challenging times when people are staying home and working remotely, read online news, shopping online and so on, buying patterns have been drastically altered. More than that, an increasing number of companies, such as Google or Spotify, are encouraging employees to work from home.
So, consumers have shifted to spending more time online than before. But how will marketing strategies or branding services evolve in these uncertain times and going forward?
COVID-19 has altered consumer buying patterns. What now?
What are the most significant changes we are seeing in consumer behavior as a result of COVID-19? It has changed nearly every aspect of everybody’s daily lives, and consumer spending is no exception. We now see more of:
• Panic buying and stocking of essentials
• More people opting for home-cooked meals or canned food over restaurants and delivery
• Travel restrictions impacting travel and tourism and hospitality
• Avoiding luxury shopping to safeguard finances with markets falling
• Shopping online and through mobile devices
• Metro billboards or other out-of-home advertising have much lower exposure due to most people staying at home
Most business challenges can be exacerbated by a crisis like the COVID-19 pandemic. Your job as a business owner is to figure out a way to reposition your products and services in order to address the specific pain points that your customers are confronting now:
Embrace new sales channels
Since most of the global population is under coronavirus lockdown, people still are going to want and need to buy things, creating opportunities to serve your market via alternative sales channels. For example, if coronavirus is cutting down on foot traffic to your retail business, look to expand your e-commerce offerings.
Work on long-term investments in your business
Especially if you’re in B2B sales, the coronavirus might be an opportunity to make some longer-term investments in your business. Especially if you’re seeing a short-term slowdown, this is the time to re-evaluate your operations, platforms, and processes and do some long-term strategic planning.
Use your online advertising budget wisely
When there is any sort of national or global event – good or bad – internet activity skyrockets. People naturally turn to their smartphones and laptops to check the news, search the web, and hear what their networks are saying. During a crisis, impressions and page views tend to go through the roof, however, getting those extra page views to convert is very challenging.
During a crisis like this, time takes on a different meaning. Millions of businesses worldwide have instituted a work-from-home policy, meaning that employees are juggling work, home, and families at the same time. Plus, a crisis like a coronavirus pandemic is dynamic and the situation is changing fast, depending on which country or even city you and your customers are located in. In a crisis, it is easy to fall into despair and negativity. However, it is so important to focus on the positive rather than the problems. And there are always opportunities to be found.
What famous brands are doing during the COVID-19 pandemic?
Many famous brands have adopted meaningful approaches to give audiences a reason to believe that we’ll get through this crisis and move forward together. Here are some impactful ways advertisers are showing up during the coronavirus pandemic in recent weeks:
While being homebound causes stress and isolation for so many, Ikea Spain saw an opportunity to shift perspective around shelter-in-place orders by welcoming their Spanish- and English-speaking audiences back into their own homes. By doing so, Ikea sought to remind people of the stable worlds they had already created — playing with kids, dancing, making music, or simply relaxing with loved ones — as the world around them shifts.
Watch the video here: https://www.youtube.com/watch?v=zg0Hei0cjl0&feature=emb_logo
While St. Patrick’s Day is normally a very important moment for Guinness, the brand recognized the day and posted a video as a sign of support of the bar closures and restrictions on social gatherings in Ireland and worldwide. Still, Guinness knew adults around the world needed a lift, so they responded with a message of resilience and assurance. By piecing together existing footage in a matter of days, Guinness shared that their brand had endured the test of time by “sticking together.”
Watch the video: https://www.youtube.com/watch?v=GWVW5p62sO8&feature=emb_logo
Other famous brands
Other brands are promoting social distancing in an attempt to fight the spread of COVID-19. For example, some famous international brands redesigned their logos for Social Distancing Campaign.
More and more brands around the world, even if not tweaking their logos, are promoting social distancing in an attempt to fight the spread of COVID-19. Does it help? We think so, especially when considering the huge number of fans some of these brands have.