The Covid-19 pandemic has changed the lives of us all. So many businesses have been adversely affected through seemingly no fault of their own. But let us look at this a little more closely. To the true marketer there may be more going on than first meets the eye. No doubt opportunities beckon; some you would expect but others you may not. So with plans to ease the restrictions announced (1) now is the time to plan your lockdown bounce-back.
Sales fading away?
Sales of high heeled shoes have fallen dramatically (2) notwithstanding the staying at home, health and fashion memes that are already taking hold. Car usage has also declined due to concerns about climate change and healthy living. And sales, by uncertainty and lack of understanding about electric and hybrid.
However, these underlying shifts are merely being magnified by the C-19 pandemic. And the biggest shift of all … to a digitally dominated world …. is facilitated by evermore smarter phones with increasing accessibility and more acceptable access cost.
The shift is most obvious in retail (3). Whilst many retailers bemoaned the health crisis and gobbled up the Government grants, this merely diverted attention from their inability to anticipate and position themselves to compete in a digital world.
Identify or face the consequences of shifting markets
Consequences flow from the inflexibility of Marks and Spencer, to the ubiquity of Tesco, to the profit squeezing of fund-owned brands such as Boots and Debenhams. Also the fall from grace of wheeler dealers who grew fat on the glories of pre-existing brands. All of course were further compromised by greedy local government making it difficult and costly to visit any high street.
Bounce-back Marketing Inspiration
As the UK Government recently announced plans to lift the lockdown, now is the time to plan your lockdown bounce-back!
Firstly it is important to consider the overall trends; what are the underlying forces, and what do these mean for your future? This is key to devising effective business and marketing strategies.
A recent CEO survey suggests that 77% of UK CEOS are increasing their investment in digital transformation as a result of the pandemic. So work out the best balance and inter-relationship between on-line and offline, and invest accordingly. Many recognise too that the balance of office and home working has changed forever. This is an opportunity to boost staff morale, as well as improve efficiency, and enhance sustainability credentials. We certainly feel this way. And we’ve heard anecdotal tales of staff at some businesses being told to work more slowly because they were getting more done at home!
Remember too that managing marketing in a digital world contains lots of traps for the unwary. So tread carefully. The quickest wins are likely to come from your core target market. So focus on the ‘sweet-spot’, and promote in tones that reflect the circumstances in which we live.
Lockdown bounce-back also means recognising the long term benefits and the importance of your brand, as well as giving attention to your detailed product and service offering. So remain true to and clear about what sets you apart.
Going forward retailers must pay more attention to the shopping experience that they control rather than hand it over to the brands they stock and don’t own. John Lewis, and many garden centres, for example, have long realised the appeal and profitability of restaurants.
And finally the Government must step-up too. And strike a fair playing field in terms of taxing the High Street, and on-line pure plays. It is time to change the rules for those who are based in, or channel revenue through, offshore havens.
(1) Press release from The Prime Minister’s Office February 22 2021
(2) Glossy.co (2020)
(3) A record 35% of sales were online (January 2021 – ONS)
(4) CEO survey (PricewaterhouseCoopers March 2021)