Covid 19 Pandemic has changed every bit of the world, and so is the Market and Consumers across the globe.
In 2020 with the start of the Pandemic, the world has seen a huge transformation in the operations and communication of different brands. There were drastic changes in the global market including commercials, advertising, retail channels, customer interaction, and many more. With this change, many organizations have completely transformed their entire business model.
But while entering the second year of the Pandemic, things started falling in different places as both Consumers and Brands have started moving on with the thought of what changes are temporary and what changes will long last?
Being a Marketer, get these four ways of Branding and Marketing, that will take you ahead in this competitive market.
- Supply Chain – An Asset of Marketing
Being a consumer one thing that would always be cautious about Supply Chain like “ from where the goods are coming from and how they are manufactured”.
Lucy Flinter, director of Zero Procure, speaking to Courier Magazine. says“Transparent supply chains reduce reputational risk and enhance a company’s standing. It also helps in attracting and retaining talent who are keen to work for responsible companies”.
Moreover, researchers at MIT found that “consumers may be willing to pay 2 – 10% more for products from companies that provide greater supply chain transparency.”
The important question here is how will you prove to consumers that your supply chain is treble clean? One method is blockchain technology, which has an increasing impact on supply chain visibility, as consumers can easily view the source of the goods they buy, from raw materials to production to distribution. So the fact that the data is openly available to consumers is itself a strong branding asset and it will definitely increase the trust of customers in your brand.
- Digital Interactions and Digital Events
The global shift that the world has seen during the pandemic is Remote Working. This became a huge opportunity for marketers and brand builders to reach and interact with their customers in a new and exciting way. Thus in the future, a big part of community brand building will be done in virtual space. But this anyhow does not make any end to the physical event, rather now it is more on evolution.
For instance, according to SAP’s Global Business Traveler Report 2021, 96% of their survey respondents are willing to get back to business travel over the next 12 months. 45% are concerned that unless they get back to business travel soon, they’ll lose out on the ability to develop and maintain business connections.
Thus the future of post-pandemic is a Hybrid Model, where a lot of us will work both remote and in-person and so will attend physical as well as virtual events.
- The Shift in Target Audience –
A big shock to marketers who are expecting to return to a post-pandemic business is to find dramatic changes in the personas, segments, and mailing lists curated in the last few years. Consumers have changed. For instance, a large chunk of consumers between their 20s and 30s have gone from fast-paced city life to a more settled, and rural existence with property ownership and a growing family. And this has a big impact on the brands on which these consumers relied.
You will be at risk of being left behind if you don’t recognize that your customers are influenced by the carrying out winds of societal concerns.
So to understand your changing customer base and to give them what they really want- ask questions, investigate, listen, and look at the data.
- Physical and Mental Health –
After the Pandemic, health is one of the most important factors for consumers. There is tremendous growth in the wellness industry. A recent survey by McKinsey defines the six dimensions of wellness people care about: general health, fitness, nutrition, appearance, sleep, and mindfulness, but Brands completely ignore these.
For instance, A food brand has to be prepared for its sugar content to be under scrutiny from consumers as soon as they release a product.
At the same time running an office-based company, it will be expected to offer ergonomic seating, filtered water, ventilated spaces, and provisions for mental health support, like counseling and therapy.
To conclude with – the only way for any brand to survive in this competitive world is to keep them evolving with time. Thus make sure you know how your customers feel and behave before making any big decisions. To know more about brand marketing solutions specific to your domain, consult experts at Digital MarkEthics.