Why marketing has never been as important as it has been during Covid-19
Criteo report reiterates the boom of digital trend with more than 80% of the respondents emphasizing the growing importance of digital marketing
The COVID19 pandemic has accelerated digital consumption among consumers in every sphere from streaming entertainment to online purchases. Subsequently, the importance of digital marketing has increased manifold to reach out to both new and existing customers. Naturally, this has led to the adoption of increased digital marketing campaigns to enhance sales. The Criteo report on COVID-19 Impact on Marketing Survey, India reiterates this digital trend with more than 80% of the respondents emphasizing the growing importance of digital marketing.
Dissecting the Pandemic Impact
Even while confirming revenue losses due to COVID19, 40% marketers credited the pandemic for accelerated digital transformation of their business processes. 50% of them increased their digital marketing spends during COVID19 and plan to up their ad spends on performance marketing channels – a direct corollary of this was 46% emphasizing more on alternative distribution channels and partnerships and 41% focusing on improvements in sales conversions.
A positive outcome for businesses during COVID19 pandemic saw 65% of the respondents in India agreeing to the growing importance of marketing as a function due to increased digital marketing activities for customer acquisition. The proof of the pudding in the Criteo Survey came from 55% marketers who confirmed they made significant changes to their marketing strategies during the pandemic. They also planned to allocate more spends on social media, content marketing, paid video and retail websites/apps advertising.
Planning the 2021 Comeback
Perhaps the most important objective of the Criteo Marketing Survey was to determine the core marketing objectives of organizations looking to bounce back in 2021. The priority will be on retaining existing customers and expanding their offerings. The other key motivators include acquiring new customers and transforming the current business models. The Criteo Marketing Survey shows more evidence of the shift from a physical to digital paradigm.
The gradual shift in marketing focus towards digital though brings its own challenges. Most marketers feel that not showing up next to hateful and fake content was important to them during the final months of 2020—a sentiment that is likely to continue throughout 2021. Driving app installs is going to be critical as will be cross-channel retargeting between web, app, mobile and in-store will be of paramount priority.
However many marketers are sceptical to make their digital campaigns too dependent on Facebook, Google and Amazon while many are apprehensive about traffic quality and consequently brand safety of their digital campaigns.
Best Practices Advisory From Criteo
There might not be a magic bullet but the Criteo Marketing Survey on COVID19 impact throws up ample data to guide marketers on not just increasing ROI in these uncertain times but also getting more bangs from their marketing budget. The focus should be on a big sales push to make up lost revenues for 2020, reaching out to newer target audiences and providing the right content and right context for your advertisements.
Criteo Marketing Solutions offer best practices on how marketers can stay focused on these targeted goals. Marketers should focus on engaging consumers at the right moments and influencing their purchase decisions. Consumers need to be influence as they browse retailer websites and ecommerce marketplaces – the focus should be on reaching the shoppers at the digital point of sale. Connecting with consumers at the right time to help them buy the exact product and services should be the mantra for 2021.
For more details on these findings, download your free copy of the report.
This is a partner content article in association with exchange4media.
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