In our new series, ‘Marketers Playbook for 2020 Post Covid-19′, Vijay Kaul, DGM Marketing Communication,Yamaha Motor India Sales Pvt. Ltd says that marketers need to have a viable action plan based on the current market situation, consumer sentiments and product challenges. He also lists 10 key recommended strategies to recoup business swiftly.
Since this is the first time India is facing a pandemic at this scale, one among these three scenarios are expected – Rapid Recovery, Slow Comeback, and Protracted Challenge. Marketers need to keep these scenarios in mind and have a viable action plan based on the current market situation, consumer sentiments and product challenges. Predicting our category and impacts on our customer during this time is imperative.
Recommended strategies to recoup business swiftly:
- Keep your ear to the ground. Understand the impact and direction the market and your category are taking and be fast in tailoring your future roadmap basis this.
- Continue to maintain brand exposure. TOP of Mind is imperative for a brand to relate to consumers in a positive way to build brand equity.
- Don’t just focus on the short term. Keep a balance of long-term brand building and short-term activity.
- Don’t force fit your communication towards Covid-19. Be relevant in your communication around Covid-19 as things get back to normal.
- Keep a close watch on the evolving consumer behavior and adapt to it. For example, with the fear for public transport, there could be a possibility of people shifting towards their own vehicle. This could mean an opportunity for the two and four-wheeler segment. On the other hand, consumers could be anxious walking into showrooms. This could mean having to transform the customer experience into a virtual product experience.
- Post Covid-19, there will a slow down on cash flow and sentiments. Also, from August it will be season of festivals in India and people will try to put things together and this will bring some positive sentiment. So, the need of the hour will be to boost the morale. Hence, focus on Tactical campaign coupled with customized financial offers that can reduce the burden. In our category offers like low down payment, zero-interest rate & deferment of EMI’s will work
- Focus on community. For us at Yamaha, the “The Call of the Blue” campaign will be the biggest asset to extend brand love and experience to larger set of audience both through offline and online engagement.
- Keep a close watch on your media trends.In Tier II & III towns, we can see an increase in OTT consumption, gaming and user generated content platform might become a habit in few months. What matters is the Right Mix of Media at the right time to activate new avenues of business.
- Collaboration with other brands with similar passion and audience profile to accelerate the business and push for higher notch. Product innovation can be a game changer.
- Finally Stay Positive and confident!