Reinventing marketing

We live in turbulent times. Uncertainty surrounds us. The effects of the economic crisis that we already have, the possibility of new confinements, politics and personally, of course, the fear of contagion. This may be more or less the cocktail that many of us have in mind.All these ingredients have generated a completely different scenario, and above all new . No one is clear about what will happen in the next few months or years.And this is what has to agitate us marketinians, what has to put us on alert and, why not say it, stimulate us. It is in these moments when the greatest challenges arise and the talent of the great professionals comes to light .We have to reinvent the way of doing marketing, we have to start posing scenarios to define the most appropriate way to communicate with our audience in this new context.It is in these moments of widespread doubt that the best opportunities present themselves to those who know how to see them. Therefore, if a scenario of uncertainty, but at the same time an exceptional time to engage in marketing.What are the axes of change in marketing?
In order to think about the marketing that is going to be necessary from now on, we have to start by defining the variables that have made the context change.From my point of view these axes are:Uncertainty : as I mentioned at the beginning of the article, uncertainty is the variable that is most affecting our lives in every way.
Economic crisis : derived from all this situation we are entering a great economic crisis that is affecting many sectors.
Changes in consumer behavior : we spend more time at home, we buy more online , we consume more content and digital services and, in general, we have returned to simpler, more basic habits and purchases.
These three points have consequences in countless areas. I am going to describe the ones that seem most relevant to me, but what we must be clear about is that;We cannot do things the same as before. The context has changed, we have new rules. We must reinvent ourselves.We must think of new ways of presenting our value proposition and accompanying our audience in the purchase process. Here are what, in my opinion, are the pillars on which the new marketing will be based.The pillars of the new marketing Second digital revolutionI’m talking about the second revolution, although it could be the fourth or the fifth. What I mean is that the COVID-19 crisis has accelerated digital evolution (I try to avoid the term digital transformation) exponentially.Movement limitations caused by confinement have made the digital channel even more important.For companies, at certain times, it was the only channel available to market the companies’ products or services, and for people it became the main window to the outside world (content consumption, video calls, purchases, etc. etc. .).This has meant that companies that were digitally prepared have been able to better manage the crisis, and those that were not, have had to evolve at a forced pace to try to adapt to the new situation.As a consequence, we will see how many companies are going to bet on digital to finish their digitization processes, but the biggest change will come from the very high Czech Republic Phone Number List of companies that did not have a digital presence and are launching right now.This is going to change the landscape and open countless new opportunities and scenarios.To give you other perspectives, here are some data that I have found in El Confidencial and in other sources:From IDC, they estimate that at least 40% of European GDP will be digitized in 2021.

The Global Capital Confidence Barometer survey , carried out by EY in 46 countries during the months of February and March, which reveals that 72% of the executives consulted recognize that their company has already implemented technological transformation programs .
While 82% of the professionals who have participated in the Barometer on the business impact of covid-19, prepared by Good Rebels with the Spanish Marketing Association, foresee that the crisis will promote innovation and the development of new business models A statement from my friend Nacho de Pinedo (co-founder and CEO of ISDI), with which I totally agree: “Before there were many people who were reluctant to technology, but after 60 days of confinement, the world has accelerated the equivalent to six years in digitization In Latin America 13 million people made their first purchase online (Visa Data – May 2020).
In the USA we can see the transfer of users to digital in different sectors (first experiences vs. regular users. Mckinsey data):
Mckinsey – consumer trends covid-19. Homes as a center of activities
Our houses gain in importance as the center of our lives. During confinement we have had to adapt as best we could to the new situation, and we have combined our personal and professional lives with all that this implies.And this situation will continue, at different levels, during the next months and even years (I lean more towards the latter). Many companies have extended telework periods until 2021 and 2022, schools are, for the moment, operating remotely, etc.
Now we must think, how should my company change to adapt to this new situation? How do I serve clients who have changed their habits so radically?This implies changes in many aspects in our way of consuming products and services that affects most sectors. We have seen the most obvious changes in the growth of ecommerce, the increase in the consumption of digital content, etc. but this does not end here, rather it begins.Digital banking, telemedicine, changes in the use of means of transport in general (and their associated sectors), cinema (can you imagine a theater or cinema offering special live and paid content through Netflix ?), office rental (I see coworking spaces and business centers like First Workplaces growing), catering (can you imagine how the concept of food delivery will change? what else will your service include?),… the list is endless!. Local consumption
Another change derived from the limitation of movement and the change of habits, is the commitment to hyperlocal consumption in our day-to-day lives due to its greater sense of safety and quality, and out of pure solidarity.This implies changes in customer profiles, new communication and sales strategies, new uses / roles of physical stores, new operating processes, etc. New roles for physical stores

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Derived from the previous points, the stores have a double challenge: to make their spaces profitable with a smaller DE Phone Number of visitors and to adapt their role in their relationship with customers.
In some sectors the stores are where the service is offered, but in others they have to compete with its digital version. Getting customers to visit them again implies working on generating sufficient security that their spaces are virus-free so that customers come normally, and on the other hand, they must modify the customer experience and additional services, so that each visit provides a greater value and makes sense versus the digital option.It is clear that physical stores will continue to have an enormous weight in the accounts of companies, but they must adapt to the new situation and enhance off-online synergies. This means, again, an acceleration in the digitization of companies.Brand purposeAnd finally and encompassing everything, companies need to change their approach to their audience. In these times in which uncertainty is one of the predominant factors, our clients are looking for something more than a commercial transaction, they are looking for a company they can trust, and that also helps them beyond its offer of products and services.For this, the necessary step is for companies to define their brand purpose and be able to transmit it to the organization and its audience. It is part of the marketing philosophy that I have always defended: from the inside out and from less to more .Our clients are waiting for a different relationship, a more human and close relationship that allows them to feel identified with us and that helps them regain trust. It is the perfect time to change the attitude of the company towards its customers: first service and then sell.

 

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