Well, we are in the Unlock 1. But the Lockdown that we had, has changed the marketing game a lot. While the Nation came to a stand still for well over 2 months, industries, small businesses, individual all were affected.
People stayed in their homes for over 2 months with the bare minimum purchasing. We only invested in “What’s important for survival“. Food & medicines. I don’t think anyone missed new clothes or new shoes or even a new Car for that matter.
Why? Because, it was our life or all these worldly pleasures. Obviously, our life was more important. If we lived today, we can get all these tomorrow(when the market opens).
But this lockdown made 1 thing abundantly clear, at least in my mind, there is very less that we actually NEED. Everything else is what we WANT? There is a difference.
How the Lockdown has affected Marketing?
Since people were living with only the basic stuff and buying the basic stuff, every other commodity was in the leisure column. People survived without a new show or a new shirt, but they couldn’t have survived without food & medicines.
So how do businesses that do not deal in food in medicines survive? Especially, small businesses.
Well, people will come around and still start buying stuff from the leisure column. But the market has become a lot more competitive. Since, the businesses have old inventories and depending on their industry they need to get rid of it sooner than later.
For e.g., FMCG industry has already faced huge losses or facing as you read it right now. However, Manufacturing Industry is still hopeful. Their products will not rot in the warehouses, but non-purchasing of the items are levying huge burden & lot of costs impact to their pockets – rent, electricity, salary etc.
What’s the new Marketing Mantra?
Well to reduce some costs, business shut down their marketing campaigns, for obvious reasons. If people were not buying during the lockdown, there was no point of spending money on the Marketing Campaigns.
Now, during the unlock when the markets have opened, businesses have some other problems to deal with – stocked warehouses, lesser staff, competitive rates.
People are willing to sell their stuff at throw away prices, just to get their investment back, forget profits.
This has changed the way business are approaching the masses. The messaging has changed a lot. Now, all you need to do it just get the right message to the right set of people(your potential customers). You don’t even have to worry about to polish it make it look exceptionally good, unlike in the pre-COVID19 era, where businesses used to spend millions of Rupees. Now only a simple Facebook Ad shown to your potential Client base should be enough.
Costs will be cheaper, since everyone is trying to get rid of their stock. Moreover, costs are driven by demand. If there is no or lesser demand the cost is bound to get low.
I’m willing to bet that businesses will shift their focus to the Digital Marketing from the traditional marketing. There are multiple reasons for this shift but he most logical one is Social Distancing. Business can can get their online Campaigns setup and run with the help of an expert or by themselves online. No need to meet unwanted number of peoples for getting an Outdoor hoarding Ad. Or meeting a Newspaper Editor for a News paper ad, etc.
Let us know in case you have any questions or need more insights in to this, we’ll be more than happy to oblige.
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