5 Ways Startup Marketing Has Changed Since Pandemic
Authored by Pratik Mukherjee, Head of Marketing, Infra.Market
Building an extraordinary startup is rare enough; marketing it appropriately and unconventionally is equally scarce. This has become even more evident post pandemic. Right from lifestyle to purchases, the last two years have transformed a lot. Amidst this, there are certain things that have changed for the better - Marketing.
In marketing there is no silver bullet to cut through the noise but with the appropriate drumbeat and strategy, the brand can be heard. With rapidly changing consumer behaviors, fluctuating market dynamics and evolving business needs, marketing has reformed a lot. Constant strategy alterations to optimize desired results is the ‘new normal’ for marketing. Although the list is too long, here are five of the crucial changes in marketing post the outbreak of COVID-19:
- Consumer expectations in the digital-first world
Prioritize becoming educators rather than just advertisers. Considering the sudden shift in consumer behavior from in-shop experience to digital, expectations of the consumers have drastically changed. The best way to make your brand attractive is to educate your customers, help them navigate through their issues. For the fact, 87% of consumers appreciated brands that went out of their way to deliver relevant and timely information. To amplify this further, brands spending meaningful time to learn more about their business needs, can later muse about it in long blog posts or podcasts. That knowledge will be valuable and appreciated.
- Increased focus on conversational marketing
Conversational marketing is the new direct marketing. Whether it’s about socially conscious issues or lifestyle changes, consumer conversations go beyond the sale. Consumers are looking for information and value-added engagement from brands that enrich their lives. Understanding the situation on the ground level and promoting two-way communication leads to engaging conversations and strengthens bonds. These conversations are critical for creating a tribe of loyal customers (brand superfans), thereby increasing lifetime customer value over the longer term.
- Invest in brand loyalty - Trust is the name of the Game
A strong reputation starts with trust and transparency and today’s brand stands for reliability than anything else. Protecting brand’s reputation never gets easier, particularly in the last couple of years. Brands that follow a genuine proponent of the truth and are transparent are more likely to gain much-needed confidence among its audience, translating to organic growth. The dire need to earn customers’ loyalty will remain long even after the pandemic is behind us. Investing in brand loyalty may not instantly produce results but reaps greater benefits in the longer run.
- Leading with purpose and driving purposeful marketing
Discovering brand purpose and living up to it has become the need of the hour. From production to consumption the demand for purposeful brands is ow significantly driven by social and environmentally conscious consumers. Brands with valuable positioning and subsequent messaging including sustainability, ethics, ecological stand to gain a lot. Customers want to associate with a brand that supports a greater purpose. This sets the brand apart from its competitors and provides a strong sense of value by driving the entire corporate culture.
- Building brand advocates
Brand advocates or friends have been and will always be the most effective and affordable marketing strategy. In a recent study, McKinsey established that word-of-mouth marketing drives between 20%-50% of all purchasing decisions. Rather than investing in push advertising that is often ignored, focus on spreading the positive word of mouth via brand advocates. The common groups of brand advocates may be from employees, clients, and business partners. We tend to trust influencers and our peers before we trust any marketing message, after all.
Navigating the next normal can be overwhelming. Whatever trends you lean into, make sure you are transparent and staying true to the brand.
DISCLAIMER: The views expressed are solely of the author and Adgully.com does not necessarily subscribe to it.