In a recent announcement, Twitter revealed that they’re being hit by reduced adspend as brands are putting a pause on their online marketing activity. This decrease in digital marketing is due to the Coronavirus crisis and brands’ reactions to it.
A lot of digital marketing activity has the intention of driving online users to offline behaviour, which is now severely limited thanks to quarantining measures. Non-essential shops are now closed and people’s priorities are changing, day by day, in response to government guidance. This has created great volatility in the digital marketing space, and will likely continue to do so over the coming weeks and months.
The volatility comes from consumer behaviour, which is adapting in response to the situation and creating a new ‘normal’. There’s also a volatility in marketer’s reaction to it which is fluctuating up and down depending on the category. Although some areas are seeing cuts, others are on the rise as people begin to live more of their lives online, under quarantine, and consume more digital products and channels.
A great benefit of digital marketing is the ability for brands to react at speed and measure changes in real time – allowing them to keep abreast of this situation as it continues to evolve. Adjusting your digital campaigns, appropriately, is essential at this time, and marketers are encouraged to work closely with their teams to focus on supporting their customers through this difficult period.
Brand is still important
Priorities have changed but this doesn’t mean you should step away from brand-building marketing, entirely. In fact, a shift of focus to building customer relationships at this time will be essential to fostering a sense of long-term loyalty with your consumer base.
Instead of driving your market to make a purchase, offer them something else – reassurance, optimism and value. Any attempts to financially capitalise from this situation could be seen badly by consumers and backfire massively. Instead, build your brand and nurture relationships, so that you can come out of this pandemic stronger than you went in.
At JBPRM, we understand that a well-positioned brand communicates important target market benefits in unique and compelling ways. These benefits also include shared core values emanating from genuine corporate vision, goals, and culture.
It’s our approach to integrating core values of the business as an integral part in any brand positioning effort that makes our strategy different. Get in touch to find out more.