The pandemic has permanently changed consumer behaviour. Even with quarantine
lifted, people's consumer habits have not changed and may take a while to
change. Your businesses' focus on digital marketing has to adapt.
So what have we learned about the digital marketing landscape change this crazy year?
First and foremost we have learned that consumers are buying online more than ever with a 300% increase in online sales. This is a huge opportunity! The pandemic has accelerated the speed at which we are “going digital” and has given new power to many online industries. This means that as digital marketers, we want to make decisions that use this new reliance on technology to our advantage. Now is the time to increase your online presence!
With ups come downs, Click Through rate has lowered by 38% since Q4 2019 according to Smart Insights, this means fewer people have been clicking through ads even though more have been viewing them. With people spending more time online, they are becoming more desensitized to ads so we need to try harder to grab a consumer's attention. If these trends continue and people become more immune to online marketing, agencies will have to continue to innovate and invest in quality to drive success.
What innovation can we do?
The EY Future Consumer Index, which has conducted five waves of research with 14,500 individuals in 20 countries since the start of the pandemic, has identified five different types of consumers:
Affordability first (32% of consumers): Living within their means and budget, focusing less on brands and more on product functionality.
Health first (25%): Protecting their health and that of their family, choosing products they trust to be safe, and minimizing risks in the way that they shop.
Planet first (16%): Trying to minimize their impact on the environment and buying brands that reflect their beliefs.
Society first (15%): Working together for the greater good, buying from organizations they find to be honest and transparent.
Experience first (12%): Living in the moment to make the most of life, often making them open to new products, brands, and experiences.
Knowing where your audience stands, and understanding previous consumers' journeys will help you target specific ads.
Advertising is no longer about what your services are, but how your services solve your clients’ problems. Clients want to know in detail how you will help them. This makes ads with terms like “buy now” “limited time” look spammy in today's internet culture, instead focus on the product itself. Do not make selling the product the biggest feature of your ad.
Making ads more personalized, with more understanding towards who is buying the products you are advertising will give your business the proper edge it needs to survive in the post-covid world of marketing.
If you’re a business struggling to advertise on your own (no shame in that!) Then we at Frontline Consulting can help you! Have a whole team of experts take the stress of digital marketing off your hands, let us be your one-stop digital marketing shop. Contact us for a FREE consultation today!
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