The Impact of COVID-19 on Advertising and Marketing

The COVID-19 pandemic that started two years ago (and it’s not done yet) changed the whole world in many ways. First, people faced the challenge to stay alive and healthy. We needed to give up on social gatherings, going to restaurants or cultural events, etc. Also, the business market was heavily affected after the first month of the pandemic. Many companies struggled to survive, and they needed to fire a lot of workers, so they won’t bankrupt.

We can say that the only industries that didn’t suffer were medicine and pharmacy. Every other market faced plenty of challenges and hard times. Some of them didn’t even think they can make it until the end of the year. Sadly, that was true. Many companies closed in recent years, facing huge losses, both money, and labor.

One of the industries that really suffered was marketing and advertising since they are known as “money spenders”, that work to make the people buy some product or service. On the other hand, the pandemic encouraged the advertisers to explore different and creative ways to promote what they do. It’s never been easier to place an ad online, having all the available social media, and the option to boost a post with a few dollars.

In recent years, people have found creative ways to promote themselves, but also what they do. The pandemic has helped many small businesses grow globally without spending a lot of money on advertising. All this was possible through properly tailored content for social networks, which gained a global scale. What we do know for sure is that nothing is the same as before the pandemic. People are becoming more aware that they deserve quality service and that great marketing sometimes means nothing.

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These are just some of the ways in which this industry has changed:

1. Commitment and understanding the potential customers

Source: forbes.com

Brands have finally realized that they need to be open to communication and transparency. Therefore, they now know much better how to target specific groups of consumers. That way they do not waste resources on unnecessary targeting. They are also committed to personalizing the user experience, starting with direct communication, but also taking into account all key factors. This defines the parameters like the availability of the product, but also what it is intended for and how it is used. And yes, it includes the delivery options too, as mentioned on buzoneo.

Now brands want to protect the health of their customers, work with them, but also to keep the environment clean. And of course, they showed that all this is possible with a little more effort, and almost the same amount of money spent.

2. Consumers have changed too

We were all used to the unwritten rule that the brand is “the boss” and we, as customers, need to be patient. But, that’s not how things should have ever worked in general. We all know that the customer is the most important chain in the whole process. So, by ignoring them, brands were losing a business.

Probably we all remember that behavior. But, it’s weird how things changed just because of a virus. Suddenly, these companies are aware of the importance of great customer service, and they try to attract as many new clients as possible (while struggling to keep the current ones). As a result, consumers are more appreciated now, compared to the years before the coronavirus.

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We can’t decide if it’s good or not, because a huge pandemic needed to happen, so the business can become aware of the problem. But, at least they did, so we can be happy about that. All that led to a different advertising approach, and that’s one of the biggest changes in the marketing industry.

3. Many sectors had a long-term transformation

Source: unsplash.com

Different industry sectors were differently affected by the pandemic. And somehow, all of them opened their minds to new things, like online payments, e-commerce, shipping options, and so on. They learned how to target the right audience, but also what to expect from them.

Even though traditional media will never die, many brands are now focused on social media and digital advertising. And we really think all those changes are for good.

Sometimes the marketing agencies and brands were very limited, usually because of the lack of knowledge and awareness, and they failed to promote the product properly. But, they had a unique chance to learn from those who can do these things the best in recent years. So, let’s say that’s beneficial for every party included in the process.

4. Customers are the biggest competitors

In the past, all the brands were competing with the competitors. But, what happens now? Their goal is to attract new customers, but also to ensure the old ones are still here. And we can say that this is even harder than it seems. But, we all realized that the customer experience is the most important parameter, and brands are now focused to improve everything in clients’ favor. They now know that if the client goes to another brand, they are losing them forever. And it was about the time for that to happen.

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5. Building trust as a priority

Source: fintech-note.com

Every brand already knows the lesson. Building trust is important. First, they need to have the trust of the market, then of their customers. That way you stay competitive in the market. You do not have to be better than the competition. But you can try to be at least on par with them. This will increase the trust that customers have in your brand. And is there anything more important than that?

Conclusion

We can’t say that there are huge changes in the whole marketing business. But, what’s obvious is that now strategies are focused on the customers and less on the competition. Anyway, you need to find the right balance, so you can proceed with the good work.

And we really hope that things will be like this after the last infected person with coronavirus is declared healthy. It was a positive change for the whole market.