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Council Post: How To Adapt Your Marketing To The Current Times

Council Post: How To Adapt Your Marketing To The Current Times

Renata Milicevic serves as a Global Chief Marketing Officer at Post For Rent, Influencer Marketing and Media Network Company.

For starters, I'd like to just stress how much I resent the phrase "new normal." I think that what's in human DNA will always be in the human DNA: the social interactions, personal relationships, etc. We are social beings, whether you're an introvert or an extrovert. And we can talk all we want about everything 2020 taught us, but at the end of the day, as soon as it's all over we'll probably go back to normal.

But (and this is a huge but), true professionals know that certain times require certain measures. (I will not say "drastic.") All business activities need a shift when that shift is required by global or local circumstances and changes in consumer behavior, especially when we're faced with a force majeure.

Let's look at how we can adapt our marketing strategies during these times to make the most of our time, resources and energy.

Face-to-face conversations have significantly decreased during the last 12 months, and in some cases (and countries) they are almost nonexistent. Therefore, the usual ways of winning people over, like bonding with them over coffees (or something stronger) and creating long-lasting relationships and collaborations, have been more challenging than ever. That's why the approach to any form of advertising should be as personalized and customized as possible. People are bombarded by so many forms of advertising messages that they can be hard to even process. Single out your high-potential customers (or groups of customers), categorize them based on the preferences, needs and problems they share, and put some effort into shaping customized messaging for each.

Of course, I think personalization should always have its place in business, especially marketing. But in today's circumstances, it should be a priority.

It's been evident for years now that influencers play a huge role in triggering purchases and consideration. This trend will likely continue through 2021, but as the global chief marketing officer at an influencer marketing company, I also believe the value of influencers has never been more undeniable. The pandemic has allowed brands (and governments, for that matter) to deliver authentic messages through carefully developed influencer content during times when productions and events were not possible.

Now that influencer marketing is becoming a legitimate marketing branch — four out of five companies intended to dedicate a budget to influencer marketing in 2020 — influencer marketing has significantly evolved. It has also developed a whole set of its own regulations (which will likely continue developing in 2021). What's important for marketers to know is that it's now super clear how much ROI influencers can actually generate. The key is to engage in influencer marketing with a more transparent, data-driven approach. 

Of course, brand ambassador and influencer programs require some pre-work. The pre-work includes not only checking influencer data, their credibility rate (you don't want to be paying for fake followers) and their engagement rate, but also who their audience is and whether the audience demographics match your target audience, their location and their brand interests. Another thing that certainly does not only relate to influencer marketing is to take an "always on" approach. In this day and age, it's super important to build connections and keep the conversation going around your brand. And doing things only sporadically can cost you more in the end (although you were aiming to save).

Well, this one is kind of obvious. I feel e-commerce managers are thriving in this day and age — as they should be. E-commerce is not only a trend but also an inevitable tool that retailers needed in order to keep their losses as low as possible during the pandemic. It has even allowed some to grow and increase their sales, as online shopping is obviously a preferred way of buying for certain groups of people.

But brands are not the only ones turning to e-commerce; social platforms are as well. The shoppable features popping up on almost all major social media platforms are turning social media platforms into far more than a place for sharing images with friends. The innovation in social commerce has enabled brands and influencers to engage in more meaningful and seamless collaborations. This means that brands should make sure they're reaching consumers exactly where they are and not taking them all the way to another location to shop for their products.

This one has become so obvious by now that it seems useless to even write it, but many brands still haven't gotten the memo. Do you like a friend who never takes a stand for anything? While the answer will be different for everyone, it should give you a good idea of what you should be doing in order to be relevant for Gen Z (who McKinsey estimated would account for 40% of global consumers in 2020). Pick your causes, get involved in improving the world in one way or another, don't ignore global issues and take a stand when your consumers require you to have a stand. Long gone are the days where brands who didn't meddle in politics, global issues, social issues and so on were the winning ones. According to McKinsey, "Some two-thirds of consumers worldwide say they would switch, avoid, or boycott brands based on their stance on controversial issues." Today's generations may not give you many chances to prove you're the right choice for them. The competition is tough, regardless of which industry you're in. Let's not forget that the cancel culture is also very much existent (however wrong it may be).

For many businesses, 2020 was a rough ride. For some, 2021 still is. But on the other hand, it has pushed companies out of their idle, comfortable states and forced them to innovate, progress and develop ways of working they never thought they would. It has inspired change and a whole new type of leadership that will set the companies who have adapted and brought new workflows, technologies or skill sets into their teams apart. In 2021, I believe the trends that started in 2020 will continue evolving, and there's still room for improvement for those who were slow to catch the ride.

Forbes Communications Council is an invitation-only community for executives in successful public relations, media strategy, creative and advertising agencies. Do I qualify?

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