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Marketing post Covid 19 - How to get the best ROI - TiE Chennai Webinar

Marketing post Covid 19 - How to get the best ROI - TiE Chennai Webinar on 15th Apr 2020

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Marketing post Covid 19 - How to get the best ROI - TiE Chennai Webinar

  1. 1. 5/09/2018 How to get the best ROI from Marketing, post Covid19 Vikas Chawla & David Appasamy
  2. 2. The first question is When will this pandemic end?
  3. 3. Even best case scenario shows 2-3 months of the pandemic
  4. 4. And China is seeing the second wave of the virus, already
  5. 5. Imperial College has estimated 12-18 months Until there is a vaccine or herd immunity, the base case scenario is a continuous up and down of disruptions in how we work and live for the coming 2 years, resulting in new habits long after. *Imperial College estimate: period impacted 12-18 months (Summary report @ ft.com)
  6. 6. But Frankly, we don’t know when the pandemic will end
  7. 7. 7 The Longer it extends, more job cuts are likely
  8. 8. 8 As many as 15 of 88 companies of Softbank may close down
  9. 9. But the good news, India is one of the few countries that will still grow
  10. 10. So before thinking about marketing, think about Business Model change
  11. 11. "You never want a serious crisis to go to waste… It's an opportunity to do things you thought you could not do before." Rahm Emanuel - Barack Obama's Chief of Staff
  12. 12. 12 10 Expected shifts post the Pandemic
  13. 13. 13 Different industries will be impacted by different characteristics
  14. 14. And there will be Second & Third Order Changes
  15. 15. Real Estate amongst the industries that will be badly hit
  16. 16. Death of “Just in Time” Increase in Warehousing Decline in Offline Retail
  17. 17. Digital First Businesses will have an edge Increase in E-Commerce Decline in Offline Retail
  18. 18. As per RAI, 25% retailers might be out of business
  19. 19. No better time to accelerate ecommerce
  20. 20. Make in India - likely to see a surge again Increase in Local Production Decreased Reliance on Imports
  21. 21. Domestic Travel more likely than International Travel Increase in Domestic Leisure Travel Decrease in International Leisure Travel
  22. 22. Countries reliant on tourism (e.g. Thailand) are going to have a challenge with their entire economy
  23. 23. Countries like Australia are already working towards this - See Australia First
  24. 24. Digital Transformation is likely to become a focus Increase in Digital Transformati on Decline in Business Travel
  25. 25. Build Digital Workplace for your enterprise and others
  26. 26. We launched DigiGrad end of March
  27. 27. Health and Safety will be key, for all industries Marginal Increase in Personal Transportati on Decline in Shared Mobility
  28. 28. Are you gonna walk into a restaurant on 4th May, or Would you rather order from an online app, that shows you the temperature of the chef who prepared your food?
  29. 29. Health and safety of your business (Insurance) will also be key
  30. 30. Guess who is adapting - Amazon is soon starting scalable testing for its employees and public
  31. 31. A NEW Normal is forming - of how we eat, work, shop, exercise, manage our health, socialize, spend our free time etc
  32. 32. How to Market in this New Normal
  33. 33. 33 Assess The Impact Develop The Strategy Go On the Offensive Make It Happen Have a Growth mindset and make it happen
  34. 34. 34 Assess the impact with scenario planning Scenario 3 No change in cost structure with XX % drop in revenue Scenario 1 Marginal Drop of X% drop in revenue with 0.8X% drop in cost Scenario 2 Marginal Drop of X% drop in revenue with 0.5X% drop in cost
  35. 35. 35 Define your strategy based on which industry you are in
  36. 36. 36 Define your Brand Strategy with a structured approach
  37. 37. 37 Organisations and Brands should prepare now for a possible long-term shift in consumers’ values and attitudes.
  38. 38. 38 Marketers may forget that rising sales aren’t caused by clever advertising and appealing products alone. Purchases depend on consumers’ having disposable income, feeling confident about their future, trusting in business and the economy, and embracing lifestyles and values that encourage consumption.
  39. 39. 39 The slam-on-the-brakes segment feels most vulnerable and hardest hit financially. Pained-but-patient consumers tend to be resilient and optimistic about the long term but less confident about the prospects for recovery in the near term or their ability to maintain their standard of living The live-for-today segment carries on as usual and for the most part remains unconcerned about savings. Comfortably well-off consumers feel secure about their ability to ride out current and future bumps in the economy. Understanding Recession Psychology
  40. 40. 40 Consumer Priority based Products & Services Sorted into Four Types Essentials are necessary for survival or perceived as central to well-being Treats are indulgences whose immediate purchase is considered justifiable Postponables are needed or desired items whose purchase can be reasonably put off Expendables are perceived as unnecessary or unjustifiable.
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  43. 43. 43 Managing Marketing Investments Customers are likely to become price sensitive and less brand loyal. Building and maintaining strong brands—ones that customers recognize and trust—remains one of the best ways to reduce business risk. Surgically trimming the budget is easier to do during a downturn than in prosperous times. Assess opportunities Your strategic opportunities will strongly depend on which of the four segments your core customers belong to and how they categorize your products or services Companies should concentrate their marketing resources on maintaining relevance to core customers in order to sustain brands through the recession and into the recovery Allocate for the long term Marketers that drift away from their established base may attract some new customers in the near term but find themselves in a weaker position It’s critical to track how customers reassess priorities, reallocate funds, switch brands, and redefine value. Balance the communications budget Typically, the share of the advertising budget devoted to broadcast media shrinks, whereas the share that goes toward efforts with more- measurable results, such as direct marketing campaigns and online ads, grows. Digital advertising in particular is targeted and relatively cheap, and its performance is easily measured.
  44. 44. 44 Bolster trust without impacting quality of product/service Position for recovery by focussing on what is going to be important for your customer Identify new product/customer segments due to Covid19 Improve Affordability with offers If a premium brand, look at a sub brand with new affordable offering
  45. 45. 45 Adapt the media strategy to be “Digital First”
  46. 46. 46 Switching From Defense to Offense It’s time to prepare for the next phase. Industries that were stable for a decade are now wide open to turn around. Fast and decisive movers will win
  47. 47. Key Takeaways ● Be prepared for the pandemic to continue for some more time, and for the second wave ● Lots of companies are going to take hard calls - and you may have to, as well ● India is still going to grow - but will require your business model to pivot ● Adapt, keeping in mind health, safety and digital transformation ● Do Scenario Planning and define your organisation and brand strategy ● Understand recession psychology and tailor your tactics ● Go offensive, be digital first and Act on it
  48. 48. 48 THANK YOU! +91-44-42065648 www.socialbeat.in team@socialbeat.in Follow us on:

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