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Challenges and Opportunities Faced By Marketers Post COVID-19 Crisis

Marketers plan with meticulous detail and in these times of uncertainty, mindfulness and adaptability must be practiced. The question now arises; in light of these unprecedented circumstances, where do businesses stand, particularly the future fixated marketer?

New Post Covid-19 World

The current business environment facing marketers has revolved at a startling speed. In the past few months, the world has witnessed revolutionary transformation and challenge within the political domain.
What’s more is that the time and number of resources used on this and its media coverage is shocking. The world’s economic status is distressing, to put it mildly, with a number of industries crumbling under pressure.

Marketing in the ‘New Normal’

Businesses, people and most importantly, marketers, are finding the rules changing everyday; they depend on news updates and Whatsapp groups to stay current. It has now become essential for businesses to set smart and continuously ‘updated due to Covid-19’ aims. This then catalyzes strategy, or the resultant tactics and long-run plan, or the short-run plan.

The Marketing Mix in Action

The who, what, when, where and why of marketing (also called action); along with control or evaluation concludes the cycle. The ‘pandemial’ marketers will regularly need to assess and revise objectives, milestones and performances. The marketing mix merges to bring about an end product to the market. Over the past few months, the product has become either:

  • Digital
  • Product that is essential and can be delivered to doorstep
  • Consistent with this, the place has become- the online market-space. As for the price, it is what the consumer will pay for this ease in regard to the competition. Furthermore, promotion had to digitalize and utilize any means capable of influencing and getting the consumer to commit, no matter where they are, which is usually at home and online.

    The Soft P’s:

    People

    That have become more and more like call center personnel or robots. Process- Which has been digital due to lock-down

    Physical evidence

    Also called ambiance (i.e. the smell, touch, feel, sights and sounds of the conventional store). They have had to be adjusted to the lesser sensory digital (online) experience to optimize the outcome.

    Market Sectors that did well during the Pandemic

  • Technology; as it has been the main driving force behind all transactions
  • Huge rise in demand for streaming services as more and more people have been staying at home and seeking entertainment options
  • Delivery services
  • Home fitness equipment
  • Market for pets and pet supplies
  • Market Sectors that Suffered during the Pandemic

  • Real estate market
  • Small businesses have been hit hard, with restaurants and eateries becoming increasingly dependent on home deliveries
  • Real estate market
  • Key Survival Skills for Marketers in the Post-Covid-19 World

    Sounds like an overall gloomy picture? However, we, as marketers and business professionals must put our best foot forward and strive to survive. To achieve this, adaptability and creativity are key in coming up with new and refreshing ways to get work done remotely. It has also become a necessity to have focus, self-direction and a good work/life balance. During these challenging times, empathy and tolerance is truly the need of the hour.
    Likewise, digital proficiency, the very idea of long-term learning and communication management are now at the forefront with a usual of three or more meeting platforms being utilized in a single virtual working day. In a nutshell, the marketing approach has had to change, and change it has! The shift towards digitalization had already been taking place before the onset of the pandemic has become the mother of invention, necessarily. The question is: Will things ever go back to the way they were pre-pandemic? Almost certainly not. As marketers and professionals, it is essential for us to adapt and accept the challenges and learning if we are to come out stronger from the ashes of the former pre-Covid-19 world.

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