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2020 showed that it’s more than ever crucial for brands to stay agile and adjust quickly. It involves making business plans and building a responsive system that allows fast pivoting and fostering the marketer’s agility for whatever shows up.
Envelop Agility over Certainty
Market instability, increasing changes in consumer habits (both permanently and temporarily) have been exacerbated since 2020, and keeping business in shape entails practical actions that can be taken right now:
- Stay confident about your decisions but be ready to adjust – Focus on making informed marketing decisions with your wealth of knowledge and then adjusting in the face of feedback and new information. When making marketing plans, anticipate the changes and set them up to enable you to pivot.
- Get acquainted with pivoting – Pivoting is all about working out innovative, intelligent, and strategic encouraging business adaptability.
- Master adding value to your business – To comprehend how your business can add value is key. It’s the right time to understand what your business can add value to. If your business has or provides customer-friendly resources that encourage customer education – double the content. If you offer some free service (or a very cheap product aiming to convert prospects into clients), which is highly in demand – offer another one.
You can read and learn more about marketing trends and how to stay agile in our blog post.
Let Your Consumers Take Advantage of Personal Experience
Any company that harps on growth prospects should invest in proven ways that yield seamless and personal digital experiences to consumers. Let’s take the BMW case when the company presented a mobile site but never represented their brand. They decided to rejig the site for mobile friendliness, performance, and user experience. They prioritized speed and created a top-quality mobile site. BMW opted for Progressive Web Apps that enable fast loading and immersive mobile user experience and Accelerated Mobile Pages – an open-source concept to help webpages load swiftly on mobile browsers. These tools made the mobile site load 3x faster and increased visitors by 27%, which caused increased sales via its mobile site from 8% to 30%.
It’s essential to meet consumer demands or needs in ways they, consumers, find meaningful and at scale. A great example here is in the entertaining sector. When the global pandemic hit, the industry got destabilized, prompting the irrelevance of traditional distribution strategies. Now we are witnessing how The Walt Disney Studios managed to create an on-demand video platform Disney +, that took Netflix over ten years to build. That’s happened because the industry experienced a shard viewing increase during the lockdown, and Disney was able to predict it.
Commit the Purpose and Social Good
Diversity and inclusive marketing drive viable business growth encouraging inclusion and perception of a brand. Now consumers expect brands to contribute positively to society that drives their loyalty. It’s pertinent for brands to be purpose-driven to reflect their drive for social good, especially these days when consumer consciousness is at an all-time high. A study by Forrester says that almost 70% of US consumers attest that a company’s reputation concerning social responsibility informs their purchasing decisions, while 41% plan to buy from a company aligned with social, environmental, and political ideals.
Understand the Change Between New and Old Behaviors
Monitoring how consumers balance their pre-pandemic routines and new consumer behaviors in the wake of COVID-19 is pertinent to a thriving business. 75% of US consumers have tried new shopping behaviors as the global pandemic rages.
Resort to data and consumer signals to extract actionable insights to safeguard their privacy and deploy automated tools to respond to changing behavior in real-time. This breeds an agility culture and resilience as a business change. Impact consumer choices by appealing to their present reality and coming up with new signals and perks to embrace your product or service. To dive into details about consumer behavior changes, read our blog post.
The main goal for marketers in times of market uncertainty is being customer-centric enough to gauge consumer’s behavioral changes and dynamic trends. Staying ahead of any challenge arises confronting that involves adjusting the business plans, being agile-driven and resilient to stay afloat in delivering product or service. To deliver compelling marketing insights to grow your business, feel free to contact us via chat for a free consultation by filling the form.
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