Post COVID-19 Strategy for Marketers
Image Credit: MarTech Advisor
FIRST AND FOREMOST, RESUME ADVERTISING.
It is important to keep your brand visible in the market consistently to generate growth momentum. During the COVID pandemic, our DTC client partners who continued to invest in advertising, gained positive return and were able to increase market share.
With lower costs and high viewership, we were able to grow their customer base and increase brand awareness. Brands that have paused activity, should return to advertising to avoid further brand erosion or market share losses.
HERE is a data by WARC on what happens when you stop advertising
EXPLORE VIDEO CHANNELS
We recommend to layer video into your marketing mix, given its lower cost. Video remains one of the most effective mediums for branding as it allows to tell stories in ways that resonate with sight, sound, motion, and emotion.
With marketing budget impact, VIDEO will allow you to tackle two birds with one stone- branding and performance. It will also drive a higher volume of prospect consumers down to the conversion funnel.
It’s a buyer’s market for video inventories.
CPMs on LTV, OTT, and OLV are likely to continue to be low through Q3.
OTT subscription increased exponentially during the stay-at-home orders.
It is unlikely for people to cancel right after the normalization.
Creative assets that perform well on digital typically work well on OTT.
Therefore you don’t have to develop new create content for expansion.
MESSAGE BASED ON THE OPTIMISM AND HOPE
Many DTC brands pivoted their business to support the public and medical professions, which in turn was reflected in their messaging. Brand messages began to focus on the narrative of “We are here for you” or “We are here to help.”
Consumers are now looking past COVID-19 and on to the future as restrictions ease. For your creative message to be effective and relevant, it should focus on hope and optimism, while clearly stating your product and service value proposition as to how it can help consumers look ahead.
PROMOTION AND PRICING STRATEGY
DTC brands that focus on the essential items should, if feasible, offer discounts through revisiting promotion and pricing strategy. Many consumers lost their job or were financially impacted during the COVID-19 outbreak. DTC brands who are directly connected with consumers should try to offer their solutions at more affordable price ranges to not only be more favorable but to show compassion to their consumers.