The new coronavirus certainly presents a challenge for many businesses today, as the phenomenon is unique to modern-day society. The pandemic has certainly affected how people go about their daily lives, and it plays a major role in the way businesses are currently carrying out their day to day operations.
For marketers, it is difficult to navigate through this crisis, especially since it seems that there are more pressing issues to address rather than selling a brand. However, it has become increasingly important for brands to amp up and further develop their marketing strategies in order to combat the effects of the pandemic. The effects of this global phenomenon will be felt for years to come, and businesses need to figure out a way to weather the next few years.
On 1 July, 2020, LinkedIn released an infographic and article explaining how marketers are responding to the pandemic. According to LinkedIn, context is key:
“For marketers, few things are more valuable than context. Understanding how your brand fits into the specific context of your audience, your industry, and any given situation holds the key to success.”
Today, the context is a society amid a major health crisis. LinkedIn teamed up with Vision Critical, and together, they surveyed 450 marketers during the first week of May to see how the pandemic has affected them and how they are coping with it. They were able to analyze which strategies most marketers are attempting to follow and which strategies are most accepted by consumers during these most pressing of times.
Unsurprisingly, budget cuts take the highest spot on the list of concerns when it comes to marketing, with 34% of the surveyed marketers saying that this was their most pressing concern. LinkedIn was also able to analyze which marketing strategies are being implemented now, and 67% of the marketers responded that they increased investment in webinars.
See the full infographic below:
Implications for Marketers
This analysis will help brands formulate a marketing campaign that is not only effective in attaining brand engagement but is also socially conscious. The infographic pinpoints the most effective marketing strategies during this time and shows how other marketers have been coping with the pandemic.
Reference:
business.linkedin.com/marketing-solutions/blog/linkedin-news/2020/how-marketing-budgets-and-strategies-are-being-impacted-by-covid
