Consumers have shifted priorities. Companies are refocusing. Individuals are hunkering down and often anxious. All of us are caught up in the COVID-19 storm. We are not all in the same boat, however. Some products are seeing increased demand. Some clients and buyers are not as impacted financially as others. To see how to map your products and clients as per COVID Context and Recession Relevance use this template.
How we segment and market to this audience now that economies are restarting will determine your success. Some of the changes seen are permanent while others will wane as we return to a semblance of normalcy. In this well researched report Google gives valuable advice on how to restart your marketing with a COVID Context.
To quote the announcement
The intention of this guide is to help you prioritize what to do next and take action. That includes ways to utilize the latest consumer and industry insights, how to evaluate the situation facing your business, and next steps to shift your digital marketing strategies to meet customer needs.
The biggest mistake marketers can make is to go back to work assuming business as usual. It is not going to be the same as February 2020 for a long time. On the other hand this is an opportunity to try new products, strategies, markets and segments. Exciting!
In India we have seen Cure.fit launch whole.fit to deliver groceries, Patanjali launch hand sanitizers, K7 Computing’s offer of free cyber security, Allen Solly, face masks. These may not amount to a significant percentage of their revenues but will help keep them top of mind and geared towards the new needs of consumers.