As the COVID-19 crisis drags on, marketers are turning to media mix adjustments. They're also looking for better ways to connect with existing customers and new audiences. Some of your clients may draw on their experiences related to the Great Recession if they were in business at that time. The problem with that approach is that we’re not only in a recession. We’re dealing with disruption on another level, and your clients must continue to respond with agility if they want to stay ahead of their competitors.
Media Mix Adjustments
What are most marketers doing? LinkedIn and Vision Critical teamed up to get some answers and their survey results show marketer mindset in early May:
- Shift marketer priorities 76%
- Budget cuts 74%
- Advertising investments/planning 69%
About 67% of marketers in this survey report have some COVID-related impact on their marketing strategies. They either had to move to virtual events (40%) or pause, even cancel, other events (38%).
As we highlighted in a webinar with BIA earlier this year, marketers are increasing their investment in some media formats, including organic social (56%), online video (44%), online display (34%) and paid social (39%). They’ve cut budgets for out-of-home (39%) and events/experiential (80%). The shift to more digital advertising means your clients should have a complete picture of their online presence. You can give them that snapshot by running a Digital Audit on AdMall by SalesFuel.
New Audiences to Target
Your clients may have determined that they need to adjust their product mix to compete in the COVID-sensitive marketplace. If your account had been operating only as a bar, for example, but then expanded to selling lunch or dinner, they’ll need to target new audiences. And they’ll need to shift messaging. The LinkedIn survey finding indicates that 16% of marketers are now targeting new audiences and 13% are targeting new industries. You find all the information you need by checking out the AudienceSCAN profiles on AdMall by SalesFuel.
New Content Strategies
Marketers are eager to engage with consumers while they anticipate being able to fully welcome them back into establishments and at events. They’re creating more social content (56%) and pieces that directly reach out to customers (48%). They’re also paying more attention to corporate social responsibility messaging (46%) and 47% note that their content has become more emotional in nature. When prospects and customers believe that their local service and product providers are being impacted by COVID-19, they can also be inspired to support that business.
Work with your clients to produce content that positions them properly and results in a better bottom line. As they strive to connect with new audiences, encourage them to try media mix adjustments.