Future of Marketing: Digital Marketing The business world weapon after the Covid-19
The Coming of Covid-19 that has changed all aspects of human life from 2020 onwards. Causing marketers to ponder the marketing strategy in a situation that has never happened before. Marketing in the business world after the Covid-19, how to change? Khun Siwat Chaowariyawong, CEO of Group M, the leading agency in the industry Who is behind the strategy of advertising and marketing of many businesses and brands in every industry, comes to share experiences in adjusting the strategy to help the company survive from the crisis and the future from now on.
Changed from Offline to Online
As a major agency in the advertising industry in 2019, 1 in 3 of the 100 billion baht in advertising budgets for businesses in Thailand are under Group M. This is money spent on digital media, with the top 5 business sectors spending the highest advertising budgets, including 1) motor vehicles 2) skincare 3) telecommunications 4) finance, banking 5) food and beverages.
In the opinion of Khun Siwat, the ranking of the business sector that has been spending on advertising media has not changed because they're all big businesses. But what has changed is that the advertising model will adapt to the current situation. Such as the automotive business that is attached to a restriction, cannot organize a motor show that must be an offline event. Must switch to digital media primarily. Such as searching because people search for cars, indicating that there is a demand in the market. Or if looking to find old customers, use digital media to find old customers. In the case that the customer has not yet bought, use a data collection / remarketing approach to interest customers. Which these forms occur in many businesses as High Involvement products. Most people will find information to make a purchase decision. In which the digital channel is the answer that reaches the customers the best.
Consumer behavior change - change marketing strategy
For the main skincare products, the company will use advertisements to be shown on YouTube. This is not an important point because however, consumers must use skincare. But what changed is the sales channel Because, during the locked-down period, the mall is closed, customers need to buy via e-Commerce. Customers can experience a new way of buying. When the mall is back to normal opening There may be some customers who don't go back to buy offline again. Therefore, it is an opportunity for marketers to use the customer information obtained from online sales to create retargeting strategies to shoot advertisements for target customers or former customers familiar with the product rather than pulling new customers from other brands. Likewise, in the daily use of goods (groceries), which, before consumers, rarely buy groceries online. But during the lockdown Must be ordered online When the mall is open, some groups may still buy online, while some want to go back to the mall. Marketers must look to see which customers are in which group. What is the proportion? And then do marketing to customers correctly.
Adjust strategy to find a place in the customer's mind
For the Food & Beverage product group, divided into 1) the products in the freezer are shelves that people still must eat regularly. There are sales channels via minimarts, convenience stores that are not closed during the lockdown period and can be sold online. The impact was the group sent to the restaurant. When cannot eat at the restaurant and must change to delivery. This product group must adjust to bind to the restaurant delivery instead. 2) Restaurant business during the locked-down period that the shop must be closed and changed to sale via delivery. Which stores that already have prominent features, such as street food and delivery already, are also selling better. But if the shop has a distinctive feature at the service, then need to adjust more because the sale of the delivery cannot deliver the service that is the selling point of the shop. Only food can be sent. What many stores do is organize special sales promotions. Updated to lunch box sales or new menus suitable for delivery.
Even in the case of restaurants that focus on delivery services, such as KFC, they still must adjust their work procedures to deliver in time with more orders. And when people change to cook at home the marketing team has to adjust the communication strategy to use what KFC chicken can cook at home. Or some stores use vouchers to give customers cash in first. And there is DIY food such as snacks, Tokyo confectionery, selling ingredients for customers to make at home. Is very popular because customers feel fun in cooking. If it's a Japanese restaurant like Omakase / Chef Table that sells chef experience, come to cook it fresh. There is a temporary closed or change to sell a box set. But it's not popular because the experience is not like eating at the restaurant. Some stores even launch new menus. Because the store's reputation is a strong point for customers to trust in the quality and ready to order. Some shops send chefs to make customers eat at home, for example. All this concludes that marketers must work hard all the time to adapt. Adjust the strategy to fit the needs and find a place in the customer's mind.
In the fashion business Normally, customers like to go to buy clothes at the store because they can try on the dresses as well. But because of Covid-19 Causing customer behavior to change. Any store that sells via e-Commerce, then improve online channels to get more customers. But if any stores that primarily sell in front of the store must stop slowing down some, even if wanting to sell online but was not prepared on this channel before, so changed in time. Or some stores will change to new products, such as changing to selling fabric masks, etc. In this regard, operators must mainly look at customer demand and adjust in that direction. During the time that COVID has quite a lot of comfortable clothes to wear is a trend for casual work clothes. Can be worn at home and can wear to work.
Covid reduced brand loyalty
It has been observed that the COVID situation has reduced consumers brand Loyalty. Khun Siwat said that even though Covid-19 causes consumers to delay spending because of decreasing incomes. But there are still groups of consumers who can still spend on their own happiness. In the past, offline shopping in the mall Has to walk back and forth, resulting in limited buying options. But during the lockdown period, consumers are left with only one channel, which is online shopping, which can click to see all brands of products at the fingertips. So, it's easy for consumers to have a lot of time to explore Compare products by brand. Combined with the data being reviewed, branded content, as well as discounts and promotions. And then have free time to look at that information. Therefore, having the opportunity for consumers to be interested in trying out new brands and easily change product brands.
Technology is a fight for survival.
There is a question about the condition that people do not really touch the product before buying. What is the heart of bringing awareness to creating engagement? Khun Siwat suggests that many brands of businesses use technology such as real estate. use video to deliver experience. Or products that want to experience the real thing, use LIVE to help. Which is considered technology as a tool that humans use to fight to save themselves and their businesses. For products that focus on Functional Engagement that requires a lot of information aside from using technology to help still use the Limited Time Offer promotion to help customers speed up buying decisions.
Although the communication business normally uses a lot of advertising budgets and is a business that benefits from the need for people to communicate especially mobile devices. The internet signal has a clear increase in demand. But for mobile devices, Will find the question of whether to use the same item first or buy a new one. In general, consumers do not have a lot of money to buy a new device. Businesses also solve the situation by installments. As for the advertising spending, the new model has been slowed down, especially for products that should already be selling well. Then do not need a lot of advertising.
Effective marketing Make better profits
In finance and banking Khun Siwat said that from now on It's important to see how people's financial behavior will change. Both spending Personal finances are tied to the need for money the need for credit in which direction it will go. And the other side is the level of investment power, at which level, which seems to be reduced, like other businesses the demand is decreasing. The strategy to be solved is to divide the various segments in order to penetrate to find customers more precisely. Fortunately, digital marketing tools already can communicate with customers accurately. Whether the organization will approach customers more accurately or not depends on the use of data. Including the ability to use various platforms Combined with the combination of information and marketing strategy features that will do. In which each organization is not equal in skill Whoever is better, segmentation is shot. Advertise to customers precisely. Optimized strategy on the way. Will have the highest sales volume. And have money left to do other promotions, resulting in a lot of Profit Margin. Whoever does this is not good at Profit Margin.
Aviation, tourism, hotel business, skill development, marketing, waiting for a revival
For aviation and tourism businesses in a situation that cannot be chosen. Like the domestic aviation business, still has a chance but flying abroad quite difficult due to reduced demand. Because traveling to a foreign conference doesn't need to go any more Conference technology can be done via Zoom. And the company must save on travel expenses. As for tourism, people have less money Must save, cut this part of the expense. Will return to the olden days that had to be a wealthy person to be able to travel abroad. However, Low-Cost Airlines is still available as an alternative to consumers.
The hotel business was heavily affected by Covid-19. Because of foreign tourists That is the main customer group disappeared. Combined with tourism being the main engine of the Thai economy. Some hotels must temporarily close or reduce the size and save on cost. For hotels that are not large then changed to sell a restaurant, hotel service. Even though it was a time to stop waiting for the situation to improve, in digital marketing if there are still people searching for hotels such as Thai customers, meaning that there is still a need for hotel rooms. Therefore, being an opportunity to market with this group of customers. Another way is marketing with old customers. Which, if any hotel already has an existing customer information system Can use various online marketing strategies with existing customers such as offering special discounts, shooting ads, etc. Has an advantage over hotels that never collect customer data. In addition, the Thai hotel business must prepare to accept foreign tourists. With the Thai reputation of managing COVID effectively, we have a better reputation elsewhere. But must develop marketing capabilities as well Because when tourism is opened in Thailand, we must compete with other countries. So, it's important how to get customers to get value Improved experience to attract tourists to come.
A digital media platform that responds to the market after Covid-19
According to Khun Siwat digital media platforms that are suitable for marketing ahead must have the ability to measure and link to sales. An accurate target audience can be linked to existing business information that reflects the demand for the product. And the flexibility for marketers to customize their communication styles
As for the question of whether it's time to use Marketing Automation technology? Khun Siwat views that large organizations have been preparing to do this for a long time. And if doing well when COVID passed away, these companies will have a huge advantage. Because this type of media has more roles than other media. As for which you haven't done yet, the decision may encounter investment restrictions and the budget is more limited. However, it is necessary to invest because this technology is a necessary weapon for marketing that is happening today. Depending on the company's products as well. The company with a wide range of products There are many groups of customers. Should invest in this technology. More than companies that sell only products and have only one customer group Which, if invested more than necessary, will become an elephant riding to catch the hornet Therefore, the decision must be considered based on many factors.
Regarding personnel Marketers in the organization themselves must understand customers more. The agency must do homework on the product, more distribution channels, including understanding technology, advertising platform to be able to fully utilize. Because the method of acquiring the customers of each business Has different strategies Therefore must find a strategy that is suitable for that product category. Khun Siwat concluded that the importance of each business is not only competing in the country but also compete with businesses or products that are from foreign countries as well. It will, therefore, be very important for businesses to improve themselves to compete with foreign countries entering the Thai market.