No country, no economy, no brand, no one, nowhere in this world has escaped or been immune to the impacts of COVID-19.
The world as you know it has changed for both brands and consumers.
Priorities have shifted, work has been redefined, consumers have experienced losses, their demands have changed, and adaptability is now the word of the day – for everyone. And digitally, the landscape is characterized by what Seth Godin calls the ‘Zoom Revolution.’
What’s even more accurate for you as a marketing leader is that you’re now tasked with having to deliver guaranteed results for the brands you champion in a world where many marketing trends feel like they don’t last for a day.
It’s tough spot you’re in. We get it.
But perhaps, leaning on lasting marketing trends (or truths) over fleeting ones can guide you to a more sustainable path for long-term success even in a pandemic. After all, truths are more eternal and their constant application validate their reliability.
You don’t have to scour the ends of the earth for these truths that can guide your marketing strategies in 2022 and beyond.
In this blog:
- You’ll gain Caribbean-relevant insights based on Harvard Business Review’s (HBR) 10 Post-Pandemic Marketing Truths (We’ll highlight 3).
- You’ll also discover how some Caribbean brands have demonstrated application of these new truths or adapted versions of them.
Old truth: Marketing begins with knowing your customer
New Truth: Marketing begins with knowing your customer segment
There is “no one-size fits all.” It’s no longer enough for you to have a surface level understanding of your consumer. HBR’s new truth demands that brands tailor both their strategy and executions to meet customer personas (or archetypes) and market segments – the latter focusing more on behaviour than identity.
EY’s Future Consumer Index proposes 5 cohorts which you can use to categorize your own consumers’ behaviours:
- Affordability first (32% of consumers): Living within their means and budget, focusing less on brands and more on product functionality.
- Health first (25%): Protecting their health and that of their family, choosing products they trust to be safe and minimizing risks in the way that they shop.
- Planet first (16%): Trying to minimize their impact on environment and buying brands that reflect their beliefs.
- Society first (15%): Working together for the greater good, buying from organizations they find to be honest and transparent.
- Experience first (12%): Living in the moment to make the most of life, often making them open to new products, brands, and experiences.
The Caribbean-Adapted Truth: Knowing your customers from demographics to behaviours is essential.
One brand that made the most of the pandemic and maintained engagement with customers using both the old and new versions of the truth, is Xtra Foods.
Their social media presence made the grocery shopping experience feel like a much-needed adventure.
The experience was personal, catering to the characteristics, interests and behaviours of their customers. Age, job, gender and income were also emphasized as opening hours shifted to accommodate essential workers, pregnant women, and the elderly.
Those financially affected by either pay cuts or job loss benefitted from “Plenty for Twenty”- focusing on affordability first.
Shoppers who wished to give to families in need could purchase pre-made hampers with essential items. This signalled the society-first cohort.
Their social media marketing strategy was based on inclusion and securing a simple but relevant experience. Virtually everyone in Trinidad suffered street food nostalgia and there has never been more attempts at homemade doubles than during lockdown.
It’s Important that Brands Observe and Listen
Xtra Foods did exactly that. Their timeline was inundated with posts of customers’ homemade dishes. Public engagement was key as persons were asked to vote on the best dishes. There were various doubles and other recipes, cooking videos, giveaways and even a food distribution drive. They leaned into experience.
Moving forward, brands of the Caribbean should adopt a similar approach: Embracing EY’s new-found customer segments while still honouring basic demographic data.
Old truth: Customers hope you have what they want.
New truth: Customers expect you to have exactly what they want.
The fact that you can now differentiate between an old and ‘new normal’ alludes to the reality that even in the most basic sense, change has occurred and there will be no reverting to the pre-COVID-19 lifestyle.
Brands are expected demanded to get it right, to deliver, to move with the times and needs of their customers.
Let’s look at WiPay for a minute.
Social Media was abuzz with start-ups and business services to cater to every need. Some brands got creative in order to maintain competitive advantage others were well-placed and took-off during the pandemic BUT, the one thing they all needed to do was get in tune with technology.
There has been a mass migration of businesses to online platforms. “Our entire business is based on an online platform. All the solutions we offer are designed to be successful in a purely digital space. Having that at its core prepared us well for the pandemic. “ – Aldwyn Wayne (CEO, WiPay).
WiPay is in the business of making it possible to facilitate those instantaneous needs of consumers, delivering on five C’s: Content, Commerce, Community, Convenience and Connectivity in the Caribbean.
The Caribbean-Adapted Truth: Deliver on your consumers’ expectations
The new truth (Customers expect you to have exactly what they want) is most applicable as we’ve seen Caribbean consumers display unforgiving behaviours with brands that weren’t able to adapt quickly and seamlessly.
Financial institutions that had severe hiccups experienced backlash from customers who threatened to switch to their competitors. Retail brands that “stocked” out due to supply chain challenges lost customers to brands that had products available on the shelf to meet consumer needs.
Consumer loyalty is now largely hinged on definitively delivering on consumer needs. Like WiPay, aim to give consumers what they expect.
Old truth: Relationships matter.
New truth: Relationships are everything.
Honesty and trust are vital to any relationship, but the longevity of a relationship depends on constant communication and executing on promises made.
If you want a relationship to stand the test of time, you must understand that it requires adaptability and that commitment requires work.
In business it is no different: “Advertising makes a brand promise, and it then falls to the product, service, and customer experience to deliver on that promise.”
The pandemic has pushed companies to not only make good on their promises but to reinforce them through tailoring products and services to truly reflect a much-needed solution, hiring talent with the soft skills required to build authentic relationships and ensuring that consumer privacy is respected.
There is no doubt that even within the Caribbean, relationships should become ‘everything.’
B2B focused companies like HRplus Software Limited, the Caribbean’s leading HRIS provider, was positioned to cater to the changing needs of their existing clients during the pandemic, whilst providing specific and tailored solutions to their potential clients.
In its mandate to provide more than just powerful integrated HR modules, the company introduced workflows in all their core modules, making transactions paperless and seamless. Work from home became ‘virtually’ simple for HR and Payroll professionals. After all, employees still needed to be paid.
For those who realized the need for an HRIS system but couldn’t quite afford it, the company introduced packages and ‘Pay As You Go (PAYGO)’ options for potential clients.
Relationships were strengthened because their services tangibly met the needs of their consumers and as a result they experienced a 50% year-on-year increase in revenue.
As a marketing leader, it’s imperative that you champion the promise of your brand across departments. Trust and loyalty can only be developed if your marketing messages align with the experiences your consumers encounter. Make it your business to be a thorough custodian of your brand.
From product development to customer service, a consistent experience will lead to building a last relationship that can stand the test of time.
Embracing Post-Pandemic Truths in Your Marketing
If growth is your goal as a marketing leader, then embracing these 3 marketing truths in the post-Covid-19 world is paramount. Undoubtedly, the pandemic has thrown organizations into lengthy periods of adjustment, but footing can be found by looking at the most important marketing truth: Prioritize the customer’s perspective now and forever.
Gone are the days of company-centric marketing.
That’s the truth, the whole truth and nothing but the truth.