The worldwide crisis may lead the marketing team to be either paralyzed or driven to prosperity. With the COVID-19 pandemic, this is what we are seeing: some businesses reducing their marketing (in some cases by firing the entire marketing team), while others are becoming more flexible and inventing new ways to attract their customers in these uncertain times.
You cannot remain idle for long if you are going to be in business. I understand the reason many business owners are willing to completely reduce their marketing activities. It would seem to be a conservative seems like a safe choice when you are not sure of the crisis duration. But we need to counterbalance the financial liability with the need to have all the information about our competitors and our customers. Involve information from parsing when the situation becomes complicated.
Long-lasting research has shown that the proper solution of financial instability is to increase, not reduce, your marketing costs for parsing. The least you would want is to be caught off guard and then found out that you are behind your competitors when the economy is gaining momentum again.
However, marketing in these times requires sensitivity to what is happening in people's lives, and the flexibility to keep up with the rapid and dramatic changes.
We must not underestimate
The impact of COVID-19 on the consumption behavior and the relation cannot be underestimated. A study conducted by the American Association of Advertising Agencies recently showed that 76% of customers got new habits, attitudes, and chores since COVID-19. Out of them, 89% have stated they intend to maintain some new routines. As well, consumers are also testing other brands, and 36% of them plan to further use new ones after the pandemic.
This is not the time to rely on presumptions. Any data you have from 6 weeks ago, not to mention 6 months old, is already outdated. You should be active in following up on customer behavioral changes and needs during crises.
Parsing in business marketing
Business must move forward, but do it with sincere understanding. Parsing can help marketers and executives take the right steps, serving as a guiding light for consumer understanding. Many companies already use parsing in marketing it can be used nowadays both to reveal information about competitors' experience and to reveal emotions and peoples' (consumers) behavior.
Doubling the attention on customer interaction and parsing can help you to get an idea of the best way to move forward.
Be smart to live a new life
Some companies and marketers refrain from active action and parsing, believing that everything will return to normal after a while. I do not hold the same opinion.
For one thing, some researchers believe that some kind of distancing may occur before 2022. It's a long-term period to hold up any kind of marketing. But more importantly, it will have lasting psychological and social impact on the people's outlook.
For no matter however long the crisis may last, COVID-19 will transform the customer landscape for ever. Once this happens, companies cannot go back to their old textbooks. Personnel, chatting and even strategies for your product can greatly change the world of post-COVID-19.
There are various reasons why some companies currently hesitate to attract parsing. The point is that up-to-date data and accurate understanding have never been more important. In these unknown areas, it is risky to rely only on instincts. If you didn't use parsing last month, now would be a good time for you.
Though it is important to be aware of the uncertainties and fears surrounding COVID-19, do not allow you to be paralyzed by this crisis. Parsing allows your team to understand its clients and act with timely information. It is also the solution to navigate this crisis not only for your marketing team but also for the business.