As part of our new series, ‘Marketers Playbook for 2020 Post Covid-19?, Sudhanshu Nagpal, Associate Director – Marketing (Biscuits), Mondelez India says an organization’s ability to understand changing consumer needs and act on them with agility will determine how well businesses recover Covid-19 is undoubtedly one of the most challenging times our generation is facing. From a business perspective, every company – either big or small - are struggling to keep their financial wheel turning, given the curtailed revenues streams and disrupted supply chains. The long-term ripple effect of this on the economy and heath of businesses will emerge and get clearer over course of time. But the focus for now is to keep our people safe, ensure business continuity and conserve cash, as part of managing and navigating the crisis period. As we plan ahead, it will important for brands and businesses to do some strong future scenario planning for best and worst outlook and start articulating strategies and game plans for them. As marketeers what’s keeping us awake is the humongous change this crisis is bringing about in the consumers’ life. The lockdown and need for social distancing is significantly altering some of the fundamental entrenched old ways and habits, and driving a shift in consumer behaviour. As we observe and analyse consumer data points through various listening sources, there are a few driving forces which we can see emerging and impacting consumers, at least in short to medium term.
- First one is what we all are now quite familiar with, let’s call it “More of everything at Home” – In pre-Covid times, a big part of our life use to be focused Out of home – be it work, shopping, socializing, entertainment or fitness. But during these tough times, consumers are trying to adapt and find ways to manage all these activities in their homes.
- As a consequence, we are witnessing the emergence of what commentators are beginning to call “Contactless Life” in a big way. Strong desire to limit and avoid unnecessary human contact and exposure is resulting in exponential growth in contactless processes including online shopping, online entertainment, online work and even online socializing.
- We are seeing stronger consumer proclivity emerging in the area of “Precaution and Protections” – due to increased vulnerabilities during such times, consumers are shifting to health, hygiene and wellbeing choices and seeking more and more of trust & quality assurance in their choices over all.
- Lastly, as consumers navigate this crisis we see stronger Sense of Community and need for Purpose & Sustainability emerging as bigger consumer sentiments than before
- Be Truly Consumer centric: Consumers’ needs, their buying & media consumption pattern, a lot of what we knew about them is changing. So, to remain effective it’s critical that we keep our old wisdom aside and be open to understand afresh.
- Repurpose Brand Campaigns To Drive Stronger Meaning And Relevance With Consumers: Brands should play a more meaningful role in consumer lives in these times. But intent needs to be to build trust and spread positivity. And not just drive short term sales.
- Recraft Media Strategy Regularly: Covid-19 is disrupting the media consumption habits and we are seeing some big changes coming through, be it offline/online mix or channel & genre dynamics and more. Hence for brands to remain effective it’s imperative their media deployment plans evolve too. At Mondelez India, we are constantly reviewing media landscape and evolving plans on a weekly-fortnightly basis.
- Reimagine Role Of Digital: While Digital as a stronger brand building medium will further accelerate, this crisis is a clarion call for marketeers to reimagine the role Digital can play as part of the larger marketing ecosystem. From being able to churn and generate consumer insights from the vast data available online, agile online testing methodologies, tech and data driven personalized marketing to engage consumers more effectively or scaling up online commerce materially, the new opportunities will emerge faster and stronger from here. And it will be make or break for marketeers to not sit on side-lines but jump in to build these new capabilities remain relevant and strive.
- Relook Innovation: The change of this scale is likely to throw newer innovation opportunities and render few existing ones a bit redundant. Also, with increased uncertainty which is bound to remain in the new normal, teams will have to rapidly adopt agile innovation methodologies in order to reduce idea’s time to market, do more test & learns before going scale etc. So, it’s imperative that marketeers lead and drive this agenda and build the required capabilities within the organization.