MICA, Ahmedabad, the premier B-school dedicated to creating leadership in Strategic Marketing and Communication is all set to host its 20th Annual Marketing Management Fest, MICANVAS’21 from 26th to 28th November 2021. Incorporating the hybrid model of conducting the fest with online sessions and offline events, MICANVAS is on the verge of breaking all barriers. Here are a few points that these marketing enthusiasts opine while gearing up for this iconic marketing fest.
The world as we know it has changed over the past 2 years in unimaginable ways. The whole consumer journey and the touchpoints that a consumer goes through have changed their nature.
While most of the AIDA process was earlier offline with consumers facing physical banners, displays and salesmen, the socially distanced world pushed marketers to think distanced.
The virtual means became the primary target with digital-first turning out to be an essential and prioritised strategy for every company advancing to the next year. OOH digital setups, a properly curated paid and unpaid campaign strategy were elements budgets were increased for.
However, not limiting ourselves to the primary impact of a pandemic to a marketer’s world i.e. digitisation, there was increased dependence on micro-influencers and fandom based targeting
was focused upon such as that in the case of Samsung taking BTS as its ambassadors. Further focus was laid upon cultural inferences that can be developed to enhance the unique
offering to every prospective customer.
Overall, the brands had to maintain the experience that was driving their stakes earlier through offline means, now online. Some brands fared well, however some like Victoria’s Secret called for a
shutdown. A general trend was built over customised targeting to the consumers such that a unique experience can be provided to each. Customised offers were also made to the consumers to carry on the same. Moment marketing drove word of mouth for brands amplifying their sales simultaneously.
2020 has been difficult for all industries and as marketeers, the rules need to be redefined to build brands that fit into the new narrative that exists within the “new normal”.
Data monitoring and trend identification in consumer behaviour have always been important to planning. Marketers need to think hard about what the consumer in the next normal will think,
feel, say, and do.
Utilizing customer segmentation and personas can bring deeper insights to media strategies and creative marketing approaches. Better still, these insights can be carried through to inform
the full customer journey. Social media buying is on the rise as well: 34% of people say they have shopped on Instagram based on an influencer’s recommendation.
This shift is likely to remain simply because e-commerce is more convenient, less expensive, and safer for customers than shopping in physical stores. Moreover, as social distancing and
protective measures are effective, shopping from home will seem even more convenient by comparison.
Analytics will play a core role in tracking consumer preferences and behaviours at increasingly grassroot levels as well as in ensuring rapid response to any situation. Existing models may not
be as accurate in predicting behaviours for the future as they will need to be trained on how to best analyse the behavioural data. This data can help brands expand their digital presence into
the physical world to create an easy and useful shopping experience wherever the consumer is.
Another implication for marketers will be the need to redesign shopper journeys for consumers who may be in a different state of mind. They’re in no rush—they “add to cart,” then come back for more. They shop at different hours during breaks from their remote-work schedule. They may even be shopping for their whole family across multiple product categories. These new marketing truths embody this blend, highlighting the confluence of strategies, operations, and technologies required to drive growth in a post-Covid-19 world.
Embracing them represents the path to pandemic recovery and long-term success.
