Right now, things still look grim for many types of businesses and organizations around the world. This has caused several to cut or eliminate their marketing programs. This often proves to be a big mistake. The organizations that keep marketing in a downturn are those that come out ahead once the economy picks up.
But let’s focus on the positive and the future.
This pandemic, in one way or another, will pass. The lockdown will end, people will start getting out, going to work, and businesses will soon hear those cash registers ringing.
And when it comes to an economic revival, I believe it will be smaller businesses that will lead the way. They will be more willing to test drive different marketing options than large organizations.
Invariably this means they will be turning to different social media strategies. Social media remains the most effective and cost-effective marketing tool we have.
However, we are dealing with a "new normal" when it comes to social media marketing in a soon to come post COVID era.
Here are some things smaller businesses - as well as large companies - should know:
Understanding the New Consumer
While it seems long ago, just a few months back, many consumers were quite willing to splurge and purchase luxury items without giving it a second thought. After all, unemployment in this country was under 4 percent in January 2020, and most all indications were that it would remain low. A booming year was expected for most industries and large numbers of consumers.
That is certainly not true now. Even for those consumers that have not been directly impacted by the economic downturn, discretionary spending and splurging are out the window. The new consumer is reassessing everything they buy, from groceries to electronics. What they will be looking for now when it comes to products or services are two things: practicality and value.
We must adjust accordingly and retrofit our programs so they put less emphasis on luxury items and more focus on cost-effective and value-effective products and services.
Realize It’s Now 2030
The pandemic has done what online marketers believed would take another ten years to accomplish. Brick-and-mortar stores are struggling while the e-commerce sector is booming. At this point, people purchase just about everything online.
U.S. retailer’s online Year Over Year (YoY) revenue growth is up 68 percent as of mid-April in the U.S. And something else we should know. Since January, more than 70 percent of all online purchases are made using mobile devices.
So, what does this mean for social media marketing?
For one thing, e-commerce is likely to grow even further in the months and years to come. We must take even more steps to boost our visibility - if not “lovability” - on all types of social media platforms and reach larger sections of consumers.
Further, businesses must make it as easy as possible to purchase online, remembering as well that most people now make purchases on their mobile devices.
One way this can be accomplished is by partnering with e-commerce professionals, like us, to create customized and full-fledged online stores for managing payments, online promotions, delivery, and selling, across multiple channels.
If there ever was a time when we realized how interdependent we are around the world, it is now. Some say we are not witnessing a period of social distancing; what is happening is social solidarity.
We shouldn't hesitate to address the difficulties many people are having. It’s real. It’s happening, and we should not ignore it. Not doing so makes your organization look separate and removed.
Yes, it must be repeated, we are all in this together. Further, no one is safe until we all are safe.
When it comes to social media marketing in the new normal, we must make sure consumers know you are one with them, are learning from them, and support them.
Whether you want to use your social media more effectively, increase brand recognition, or improve brand loyalty, DS&P is your one-stop shop for all your digital marketing needs.
If you’re interested in getting started, but aren’t sure where to begin, you've come to the right place. Contact us below and we will discuss your options.
Prepared for DS&P by AlturaSolutions Communications