The Covid19 pandemic has changed the way consumers behave, purchase or socialize in more ways than one, largely propelled by strict social-distancing norms, increased awareness of health and hygiene and a significantly high income uncertainty. As a result brands and businesses across the board are having to reassess the way they reach out to consumers meaningfully, using more creative and efficient ways, making way for what is now referred to as the new normal.
Even within this new normal, one stark factor that has become only too evident to marketers is the unprecedented increase in consumption of digital platforms by consumers across the board. While the world continues to live in various stages of lockdown and self-isolation norms, there has been an uptake of over 70% in digital platform consumption, with the most significant increase in time spent on social media.
Time spent on social media alone grew by as much as 82% as it became the primary source of information, communication and entertainment for people across the world. There hasn’t been a more telling factor for brands and businesses to therefore recalibrate their marketing efforts and focus on digital media as one of the most important areas to tap consumers meaningfully and efficiently.
To this end, the recently released GroupM & Facebook Media Playbook plays a big role in helping marketers navigate the new normal. This playbook offers a perspective on the evolving consumer and media landscape, and recommended media strategies for businesses to re-emerge in the new normal, using efficient ways of building consumer connections and driving business outcomes.
The Media Playbook is largely centred on 4 main pillars: a) Embracing the full spectrum of consumer segmentation, b) Mastering the full funnel of performance marketing, c) Integrating innovations with business outcomes and d) Delivering on the right media mix.
GroupM & Facebook Playbook points out some important consumer behaviour trends that will impact the purchase pathway:
The Media Playbook recommends changes that businesses need to adapt to at various points in the consumer’s purchase pathway in order to revive growth:
Download the full report: https://bit.ly/3crcoUM
Disclaimer: The views, suggestions and opinions expressed here are the sole responsibility of the experts. No Forbes India journalist was involved in the writing and production of this article.
First Published: Oct 05, 2020, 15:44
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