A lot has changed due to the COVID-19 pandemic and consumers and businesses have adapted in many different ways. Google put together an ads playbook as a guide for businesses thinking about how to market to consumers in this changing environment. They outline three categories of changing behavior that we must keep in mind when we think about a successful digital marketing strategy:
"Shock change: A sudden change in behavior that's unlikely to be sustainable over time (e.g., a rise and fall in consumer search around phrases like "school districts closing" when quarantine orders were on the horizon).
Step change: A sudden change in behavior with the potential to stay (e.g., searches related to at-home workouts).
Speed-up change: An acceleration in existing behavior with the potential to stay (e.g., searches related to delivery)."
Some other trends that Michael Kalman from the Forbes Agency Council believes will be lasting into the future are:
1) Investment In Dynamic Creative Technology Platforms
Personalized creative has been a growing trend in digital marketing, and while it is effective to tailor each ad to the individual, there is emerging technology that will be more cost-effective while still maintaining a feeling of customization. Modern dynamic creative optimization (DCO) technology allows for creative content to be automatically generated, with assets, languages and dynamic product display, without an agency having to invest in individual creative renderings.
2) Accelerated Shift Of CPG Brands To E-Commerce
CPG brands have long used traditional marketing channels, such as TV and print, as well as brick and mortar, to sell their products, but with the shift of many consumers to digital and e-commerce, they will be accelerating their shift to digital.
3) An Exponential Increase In Digital Sales For Some Industries
Not surprisingly, industries such as healthcare, groceries and food delivery have seen a huge spike in sales, as have DIY and home-related goods, active wear, learning tools, and toys.
4) Increased Investment In Attribution-Based Marketing
Marketers will be more and more focused on seeing which channels and tactics are leading to purchase and ROI so that they can invest more strategically given likely fewer dollars.
Our world has changed in every way due to this pandemic and it is crucial for businesses and marketers to be flexible and adapt as quickly as possible. Although we don't know what lies ahead, businesses that are creative and innovative in their thinking will be most successful. If there's anything this year has taught us, it is to be nimble and flexible, and I think we will all carry these lessons into the future.
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