Future of Marketing
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Digital Marketing Weapons for the business world after COVID-19
It is coming of covid-19 That will change every aspect of human life from 2020 onwards, forcing marketers to contemplate marketing strategies in unprecedented situations. Marketing in the business world after COVID-19 How will it change?
The industry's leading agency. The person behind the advertising and marketing strategy of many businesses and brands in every sector. Let's share experiences in adjusting strategies to cope with the company's survival from the crisis and the future.
Switch from Offline to Online
As a significant agency in the media industry, in 2019, 1/3 of the total advertising budget of 100 billion baht of businesses in Thailand is under Group M, which is media spending. Digital. The top 5 sectors with the highest spending on advertising budgets are
1- Automotive
2- Skincare
3- Telecommunication
4-Banking
5-Food and beverages.
In the opinion of Swat, The ranking of the business sector that spends on advertising media has not changed. Because they are all big businesses. But what has changed is that the advertising format will adapt to the current situation. Such as, an automotive industry that is subject to restrictions cannot organize a motor show that can be an offline event. Must switch to digital media mainly, such as Search, because the fact that people are searching for a car indicates a need in the market. Or if you are looking for old customers using digital media to find old customers. If the customer has not yet purchased, It uses the method of collecting data /Remarketing to interested customers. These patterns occur in many businesses that are High Involvement products. Digital channels are the answer that reaches customers the best.
Consumer behaviour has changed. marketing strategy change
For skincare products, the company will use to broadcast advertisements on Youtube, which is not an important point because consumers have to use skincare. But what has changed is the distribution channel. because during the lockdown the mall is closed Customers need to buy via e-Commerce, where customers experience a new buying experience. When the mall is back open as usual There may be some customers who don't return to shop offline again, so it's an opportunity for marketers to use customer data from online sales to create a retargeting strategy to drive targeted ads. or old customers who are familiar with the product rather than attracting new customers from other brands Like Grocery, pre-Covid, consumers rarely buy Grocery online but during the lockdown. must order online When the mall opens, there may be some groups still buying online. while some people want to go back to the mall Marketers need to figure out which groups of customers they are in. What are the proportions?
Adjust strategies to find a place in the minds of customers
Food & beverage products can be divided into 1) products on the freezer shelf are things that people still need to eat regularly. There is a sales channel through the mini-mart. Convenience stores that are not closed during the lockdown and then can sell online The affected part are the group sent into the restaurant. When the restaurant is not available to eat at the shop and then have to change to Delivery.
This group of products has to adjust to being tied to the delivery of restaurants instead. 2) Restaurant business. During the lockdown period that has to close the shop and change to selling via delivery, any shop that has a distinctive feature as a food item, such as street food and already doing delivery, is a time that sells better. But if the shop has a distinctive point of service It is necessary to adjust more. Because delivery sales can't deliver services that are the point of sale of the shop. Can deliver only the food only, what many restaurants do is to organize a special discount promotion. Adjust the format to sell Lunch Box or release a new menu to suit delivery
Even in the case of restaurants that already focus on delivery services, such as KFC, they still have to adjust their workflow to keep up with more orders. and when people switch to cooking food at home The marketing team had to adjust their communication strategy on what KFC chicken could be cooked at home. Or some stores use the method of selling vouchers to customers first to get cash.
Then there are DIY foods such as snacks, Tokyo snacks, selling ingredients for customers to cook at home. It is very popular because customers enjoy cooking. If it's an Omakase/Chef Table Japanese restaurant that sells the chef's experience to live cooking. There is a temporary closure of the shop. Or change to selling box sets, but it's not popular because the experience is not like the shop. Some shops have released new menus at all.
Because the shop's reputation is a strength that customers can trust in the quality and ready to order. Some restaurants send chefs to make customers eat at home, for example. All of this concludes that marketers have to work hard all the time to adapt. Adapt your strategy to your needs and find a place in your customers' minds.
in the fashion business Usually, customers like to go shopping for the last clothes because they can try on the dress as well. but because covid-19, change the behaviour of customers. Any store that is already selling via e-Commerce can improve the online channel to get more customers. But if any shop is selling in front of the shop mainly, they have to stop and slow down first. Some people even want to sell online. but was not prepared via this channel before,
so I couldn't change it in time Or some stores have changed new products at all, for example, changing to selling cloth masks, etc. However, entrepreneurs must mainly look at the customer's demand and adjust in that direction. It can be seen that during the covers, there will be quite a lot of comfortable clothes coming out. It is a trend in casual style work clothes. good to wear at home You can wear it to work.
Covid shakes brand loyalty, reduced customers
It was observed that the COVID-19 situation has resulted in consumers having Brand Loyalty. Khun Siwat said that even though COVID-19 caused consumers to slow down their spending due to lower incomes. But some consumers can still spend for their happiness.
Originally, offline shopping in the mall. having to walk around, making the purchase to be limited But during the lockdown, consumers are left with only one channel, which is online shopping where they can click to view products of all brands at their fingertips. So it's easy for consumers to have a lot of free time to do surveys. Compare the products of each brand.
As well as being entered with Reviewed, Branded Content, and various promotional discounts. And then have free time to look at those data. Therefore, there is an opportunity for consumers to be interested in trying new brands. and easier to change brands
Technology is a battle for survival.
Or those products that want to experience the real thing, use LIVE to help, which is considered technology as a tool that humans use to fight for themselves and their business to survive. In terms of products that focus on Functional Engagement, they need to study a lot of information In addition to using technology to help It also uses a Limited Time Offer promotion to help speed up customers to make a purchase.
However, even the communication business that normally uses a lot of advertising budget And it's a business that benefits from the need for people to communicate. especially mobile devices The demand for internet signals is increasing. but for mobile devices, they will be asked whether to use the same thing first or buy a new one,
in which overall consumers do not have a lot of money ready to buy a new device. The business solved the situation with instalments. In terms of advertising spending for new products, it has slowed down, especially products that are likely to sell well already. You don't have to advertise a lot.
effective marketing make profits better
In finance and banking, Khun Siwat sees that from now on It is important to see how people's financial behaviour will change. both spending Personal finance that will be traced to the need for money. Where will the demand for credit go? And on the other side is the level of investment power will be at what level, which overall seems to be reduced like other businesses.
Demand has decreased The strategy used to fix this is to divide the segments to reach customers more precisely. Fortunately, digital marketing tools already can communicate with customers accurately. Whether the organization will be able to approach customers more accurately or not depends on the use of existing data, including the ability to use various platforms.
combined with the combination of information and marketing tactics to make Each organization has different skills. Who is better, segments right, shoots ads to customers accurately, Optimises strategies along the way. It will generate the most sales. Call it a worthwhile budget. most efficient and have money left to do other promotions, resulting in a lot of Profit Margin left
Business aviation, tourism, hotel management, developing marketing skills, waiting for the day to recover
For the aviation and tourism business in a situation that cannot be chosen, For example, the domestic aviation business still has a chance. but foreign aviation is Somewhat difficult due to declining demand Because travelling for international meetings is not necessary. You can also use Zoom conferencing technology, and companies will have to save on travel expenses. In the tourism segment, people have less money. It must be economical to cut this part of the cost out. I will go back to the old days, having to be a wealthy person to travel abroad, however, low-cost airlines still exist as an alternative to consumers.
The hotel business sector has been heavily affected by COVID-19.
because foreign tourists that are the main customer group are missing. In addition, tourism is the main economic engine of Thailand. Some hotels have had to temporarily close or downsize and tighten their seat belts to cut costs. For hotels that are not large then switched to selling restaurants Service in the hotel But even at the time of having to stop and wait for the situation to improve in digital marketing If there are still people who search for hotels, such as Thai customers It means that there is still a need for hotel rooms.
Therefore, it is an opportunity to enter the market with this group of customers. Another way is to market to old customers. if any hotel has a good customer information system can use various online marketing strategies with old customers such as offering special discounts, shooting advertisements, etc. It has advantages over hotels that never collect customer data. In addition, Thai hotel businesses must prepare to accept foreign tourists. With the reputation that Thailand has managed to effectively deal with covers, we have better taxes than other places.
but also need to develop marketing abilities Because when tourism opens in Thailand, we have to compete for the tourist market with other countries. So it's important how to make customers get value for money. Better experience to attract tourists to come.
A digital media platform that meets the needs of post-COVID-19 marketing
According to Mr Siwat's opinion, A digital media platform is suitable for future marketing. Must have the ability to measure links to sales. Targeting precisely linked to existing business information. reflect the demand of the product And there is flexibility for marketers to customize their communication style.
As for whether it's time to use Marketing Automation technology or not? Khun Siwat sees that large organizations I have been preparing to do this for a long time. and if well done when covid is over These companies will be very advantageous. Because this type of media will play a greater role than other media. As for who hasn't done it yet?
Decision-making may encounter investment constraints.
And the budget is more limited. However, investment is needed because this technology is a necessary weapon for the marketing that is happening today. However, it also depends on the company's products. A company with a wide variety of products There are different groups of customers.
This technology should be invested more than a company that sells products alone. and has a single customer group If the investment is more than necessary, it will become a ride on an elephant to catch a locust. Therefore, the decision must be taken from several conditional factors
on personnel In-house marketers also need to understand their customers better. The agency has to do homework about the product. more distribution channels including understanding technology advertising platforms to be able to take full advantage because of the methods of acquiring
Therefore,
it is necessary to find a strategy that is suitable for that type of product. Khun Siwat concluded that, most importantly, each business does not compete in the country alone. but also compete with businesses or products that come from abroad Therefore, businesses must develop themselves to compete with foreign countries that enter the Thai market.
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