Consumer Insights: Heading into Q2 During Pandemic
Obviously much discussion around marketing and advertising amid COVID-19. What do consumers want as they are spending more time online and at home? How should brands be interacting with them considering budget reductions, decreased media spend, reduced incomes, jobs lost and just so much uncertainty. This is the first of many posts from Adapex in an effort to consolidate the latest news to help our marketing partners understand the current consumer mindset.
Podcasts, webinars, and reports abound on how brands should be communicating and connecting with consumers amid the COVID-19 economic downturn. These insights come from eMarketer, Attentive Mobile and Kantar.
Brands’ Role Amid Pandemic
Kantar did a global study and determined that consumers want brands to be genuine and empathetic. Speak to consumers’ situations and connect on that. Taking care of their employees should be first priority. Interestingly, less than 10% of consumers thought brands should stop advertising.
Communications with Customers
There is a consensus that brands should be connecting with existing customers. This is a time and opportunity for branding: relating to consumer’s current situation and offering a way to help within their brand value that is authentic. A time for humanity and helping each other out. With a focus on customer retention and understanding the consumer, brands will be ready to meet the anticipated pent up demand when things turn around.
- Updates and reassurances from brands they trust are welcome
- Value offered within brand’s core dimensions
- Shift towards brand marketing vs. sales
- Communicate charitable actions being taken
- Discounts, financial relief programs, free services, entertainment
- No reason to stay away from COVID-19 news coverage
Product Sales Trending Now
While consumers are not rushing out to purchase, there are some goods that are trending upwards, and of course, being bought online. Consumers are buying discounted items, comfortable clothing, home goods, and packaged goods.
We’ll continue to follow reports on how consumers are feeling and what they expect from brands they rely on and trust. Follow us on LinkedIn, we plan to do a weekly roundup of what’s being reported and follow examples of brands that are communicating successfully.