Marketing Tips in the New Normal
Change is an important variable to run the business in the New Normal, and marketers must explore this change and adjust a suitable marketing plan.
Short-term Marketing Plan
Marketers need to know consumer groups and adjust products and service functions to cater to their needs. Consumer groups comprise 4 categories according to Harvard Business Review.
This is the most vulnerable group as they were directly affected. They have reduced all kinds of spending like unnecessary goods, deferred purchases, purchase fewer essentials, and purchase cheaper goods. This consumer group earns low income or may have high income but feel panic because of crisis.
Marketers should emphasize product quality, essential products for consumers, and affordable prices. Promotions of new products with free gifts or free delivery will also create a good value for money for customers.For products that customers tend to buy less or deferred buying, marketers still need an ongoing advertisement so customers can recall your products and may buy them later.
These customers are uncertain about the current situation but believe that things will be better in the long run. Most consumers fall into this category comprising those with varying levels of income, and still, reduce all kinds of spending but not as strict as the first group.
This group still has to buy power and tends to stock essential products for long-term use. Marketers should offer products at a special prices when buying more, or reward customers with extra points, or offer a free membership renewal fee. And to reduce customer anxiety, marketers should build trust in the service availability and production capacity to meet future demand.
3.Comfortably Well-Off Consumers
These customers earn a high income or may earn moderate income but feel secure within their financial status. They still spend their money as usual but are more considerate to buy things and tend to buy less high-ticket items.
To boost buying productivity of this group, a suitable marketing campaign is to make customers feel like rewarding themselves when buying products. A special promotion that has never existed, may be arranged to accelerate customer decision to buy and to feel they don’t want to miss it. Advertising of consumer products should be continually active with an emphasis that customers can’t live without your products.
These customers spend their money normally and don’t care much about saving money. Most of them stay in the big cities and are quite young. They love spending on things that bring new experiences. Their consuming behaviors can only be changed once they lose their jobs and earn no income.
To market with these customers, we use a method called “Carpe Diem” which means ‘seize the day or one should enjoy life while one can. Therefore, products or services should offer a worthwhile experience and a high quality of life. As these customers are tech-savvy, marketers should focus on advanced technology and customer data security to build trust with them.
Medium-Term Marketing Plan
The core of this plan is to create an impressive experience for customers with the right strategy.
1.Special Solutions and Extra Service
Referring to the survey by Merkle, a website providing marketing data, the factor that mostly affects customers is service cancellation (31%), a letter from CEO (12%), and an announcement about employee supporting plan (10%). Therefore, one of the effective marketing strategies is to stay close to your customers by clearly informing them that the services remain unchanged, and offer additional service as a choice for them.
Online shopping is both a current and a growing trend in the future. Apart from shifting platforms from store trading to online, one thing the marketers shouldn’t ignore is to provide easy applicable instructions, especially for novice consumers. It’s important to give clear product information such as the balance on-hand quantity, discount, and delivery schedule. Call Center or Hotline team also has to be ready to answer customer questions as fast as possible because customers will score this service as much as 3.2 out of 5 points.
Providing information for consumers is another factor to create their good experiences. If we visit the Getaway website, a cabin rental company, it clearly states that cabin cleaning is arranged twice as much as usual, each cabin keeps distancing, all staff wear masks and keep at least 6- foot physical distancing from customers. This information is also e-mailed to customers in the same direction. Customers will feel at ease as they’re allowed to change or cancel their check-in dates. Getaway is a model business that prioritizes content and effective communication with customers. Most importantly, the company has built a standpoint as a solution for customers during this uncertain era.
Long-term Marketing Plan
Research done by Forrester’s SiriusDecisions suggested that we prepare 7 communication tools to generate high profit in the long term.
1. Webinars and Virtual Events
Online events and chat should be held with customers to replace traditional meetings. This is an effective way to connect to customers while providing product and service information including company updates and to strongly retain the customer base.
Produce to share news, good stories or innovation with customers. The company should continually follow up and evaluate each content for better improvement.
Select a variety of media and focus on chat or Live events to penetrate customer groups. A one-on-one conversation can be added to substitute face-to-face meetings.
This is a program responding to customers via text or text-to-speech, and helping customers who are searching products on the website by answering questions and finding products they need. This platform also enables online salespersons to contact customers for further assistance.
This is a communication tool that presents detailed, understandable, and clear information, which can be delivered through diverse channels. Marketers are able to produce complex and complicate information through video to make content more comprehensible to customers.
Building relationship with customers is the most important strategy. Forrester Research found that a company that has positive relations with customers, can generate 50% more sales with less than 33% of the budget. Even though sales volume over the crisis was not quite high, but customers will certainly return their purchase to your products.
7. Customer Stories and Testimonials
The product review by customers reaffirms the product quality or service, and it will create a ‘Social Proof’ phenomenon that will bring trust from other customers and their decision to buy your product or service.
Although an unstable economy still exists but business sector should make the most of this time by studying consumer behaviors, creating relationships with them, and consistently expressing empathy to them. An adjustment to all marketing plans is new strategies to build trust and wonderful experiences to customers while the entrepreneurs are expecting to have loyal customers as long as possible.