4 Vital Marketing Strategies Businesses Should Adopt in 2020

  • 10th Dec'20
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In the wake of the pandemic, there are unforeseen challenges that have come along our way. But as

Albert Einstein said, “In the middle of difficulty, lies opportunity.”  This is the Entrepreneur’s chance to find the opportunity and exploit it to the maximum.

Marketing Strategies are the overall game plan of a business to gain a competitive advantage in the industry by a thorough understanding of the needs and wants of your customers.

To survive through the Covid scenario, businesses' marketing strategies need to be more adaptable and agile towards consumer needs and experience.

 

Here are 4 Vital Marketing Strategies Businesses should adopt in 2020:

 

1.  Prioritize Digital and Social Media Marketing

Before Covid happened, the impact and reach of Digital and Social Media Marketing were just getting noticed. However today, with almost all of us buried into our phones and spending ample time on social media platforms, it would be foolish of businesses to not use this super tool to their advantage. Businesses must shift their focus to building their  Marketing tips in the digital world and social media presence in order to sustain other business operations.

 

 

There are several ways to build your online presence, it could be through:

  • Leveraging E-commerce

  • Content Marketing

  • SEO 

  • SEM

  • Offering discounts or Incentives for online purchase

  • Sponsored Advertisements on platforms like Facebook, Twitter, LinkedIn, YouTube, Instagram and search engines like Google

It is only a matter of time that all business executives realize the power of these digital tools, to create their own pitch early and gain an edge.

 

To read related articles, refer to the below-given articles:

How Important is YouTube for Brand Marketing in 2020?

To learn the importance of YouTube for Brand Marketing in 2020, read here

Digital Marketing: A brighter perspective

To read all about digital marketing, click here

 

2. Empathize. Give Back. Be Generous

We are all aware that each one of us is suffering whether individually or at the company level, some have lost their loved ones while some have lost the companies they gave their whole lives to. 

Iconic companies founded in the 1800s and 1900s like Brooks Brothers, Guitar Centre, J. Crew, Century 21 have filed for bankruptcy during pandemic which shows how much the economy has been affected.

This is the time to make a difference in the world. Step Up. Help others. Give Back. Be generous. Empathize. Support a cause.

At the beginning of this November, Burger King shared an ad urging customers to buy from their competitor McDonald’s and it won the hearts of millions of people because they connect with empathy and appreciate it. 

To further give you an example, Companies like Bacardi, Apple, GM Motors, and several others have stopped their respective productions and shifted them to the manufacturing of hand sanitizers, masks, and PPE kits to help the government tackle through Covid. 

These strategies might tighten your pocket at the moment but will help people in need, bring goodwill, and create trust in the brand and they gave authentic reason to Building brand awareness for our brand in the long run. 

3. Mode of Communication 

Due to COVID, people are on their phones a lot more than they were before and hence some businesses thought it was a good idea to use Email Marketing enthusiastically which resulted in irritating the clients and unsubscription of the Newsletter. 

With the change in behavioral patterns and preferences, businesses must re-evaluate their mode of communication with in slide changes in their pattern of communication, and among those trends, Building a chatbot is one of them. 

SMS marketing is in trend and favor of consumers as per the recent researches and surveys that were taken. The latest Chatbot trends furthermore helping people get their queries resolved quickly and guides customers to their desired pages saving their time on Customer Service calls.

Recently, WhatsApp help has also been designed by many companies.

4. Encourage Feedback

Amidst the pandemic, people are at home, away from their routine. This has changed their habits, likes and dislikes, and behavioral patterns. Due to economic uncertainty and financial difficulties, people have changed their needs and have reduced purchasing power. Businesses should not be under any presumption at the moment, rather should ask for feedback. A business should find a way to interact effectively and connect with its customers. Encouraging feedback from customers will provide you with first-hand data of the changes they expect from you.

The marketing team needs to work on customer needs through timely accurate insights to sail through the pandemic and thrive in a Post-Covid world.

Even when this pandemic comes to an end, the company needs to develop a new customer database with fresh data and redefine user personas along with their preferred mode of communication.

Let us know your views in the comment section below.

 

To read more articles about marketing & branding, refer to the below-given articles:

Do you Know the Marketing Strategy for a Startup Without Funding?

Curious? Find out which marketing strategy works for a startup without funding, click here

Top 10 Most Effective Marketing Strategies

To find out 10 B2B Marketing Strategies and 10 B2C Marketing Strategies, read here

The Essential Guide to Marketing Strategy

To read everything that needs to be learned to know all about marketing strategy, click here

Best Practices for Marketing During and After COVID-19

To learn about some best practices that will help your marketing during and after Covid, click here

 

We, at OpenGrowth, are continually looking for trending startups in the ecosystem.  If you want to know any further information about the startup ecosystem or have any mind-boggling ideas, do refer to the other blogs at OpenGrowth. If you have any suggestions, do let us know in the comment section below.

Sources/References:

*Note: The content published above was made in collaboration with our members.

About the author:

Ayushi Vanzara, OpenGrowth Content Team

Ayushi is currently pursuing Chartered Accountancy. No secrets there that she loves to read!  She believes words have the power of healing and is a medium that can convey like no other. She hopes to connect with people through her empathy, thoughtfulness, and by adding value to their lives.


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