As the world adjusts to its biggest behavioral change in the recent past, brands have a crucial role to play. How they communicate now may shape consumer views beyond. Consequently, brands should invest for long-term outcomes.
First things first, let’s assess key reasons why brands should consider putting themselves out there.
1. Leverage lower cost of running ads
As most would expect, the pandemic has had a notable effect on advertising strategy and performance of brands. With companies decreasing their marketing budgets, there is a drop in ad rates by upto 50%. Subsequently, marketers can reach a larger section of new customers at a much lower cost than before.
2. Stay connected with your customers - They want to buy
An important factor to consider here is “audience connect”. If a brand stops advertising, it will have an unfavorable long term impact on brand health. Keeping a continued engagement helps position the brand as meaningful and different for when the consumers start shopping again.
3. More time means higher demand for good content
Because people have been forced into social distancing at home, they have more time to consume content and as a result, the supply of engaging brand content is on the rise. This has led to a change in lifestyle where consumers are spending more time online than ever before. Mobile is now the dominant way for people to communicate.
As everyone adapts to this new reality, we delve into how brands can utilize their owned as well as paid media to increase reach and improve brand recall. Once the dust settles, remarketing ads can be used for the audience that has interacted with the content to improve conversions.
How can this be done? Let’s dig deeper.
1. Leveraging high engagement channels
Businesses can improve brand affinity by using various online channels such as Facebook, Instagram, Google, Tik Tok, Snapchat, Twitter, etc. Brands also need to be mindful of the consumer sentiment. They should use a reassuring tone, offer a positive perspective, and communicate brand values.
2. Defining campaign objectives
A study by Nielsen US shows that social distancing, quarantining, and staying home will have a significant effect on media consumption, which could rise up significantly. As a result, by specifying the campaign goals such as reach, brand awareness, post engagement, and video views, brands can reach out to more consumers and improve product awareness at a much lower cost.
3. Focusing on tracking parameters for remarketing purposes
URL parameters of current brand campaigns can be used to analyze consumer behavior and demographics. This can fuel future retargeting campaigns and bring in sales once confidence and demand returns.
4. Deploying captivating ad formats
Since many work from home and stay indoors much more now, users will be spending a lot more time online which marketers may not have anticipated a few weeks ago. Brands can use different highly engaging formats such as Instagram stories, videos, gifs, canvas ads and instant experience ads to interact with the content-hungry audience.
5. Using trending and creative content/theme in the ads
For a brand, being online has never been as important as today. Identify what’s trending and be agile in judging the appropriateness and the value-add. Brands that can create relevant content to meet spikes in demand always have an excellent opportunity to connect with a new audience and build strong, long-lasting relationships.
Overall, while an impulsive brand campaign can push sentiments against the brand, a sensitive, well-thought-out plan can win unshakeable loyalty that will have a positive, long term impact on business growth.
About the author
Kiran Patil is the founder and CEO of Growisto, an E-commerce marketing and technology company based out of Navi Mumbai. He has 16+ years of experience in e-commerce, phone commerce, and digital marketing. Growisto helps brands & private labels to grow their businesses on platforms such as Amazon and their own website. Kiran is an alumnus of IIT Bombay and has worked with companies like Evalueserve and Future group before starting his entrepreneurial venture. His personal interests include travelling, cycling and trekking.