The COVID19 pandemic has accelerated digital consumption among consumers in everything from streaming entertainment to online shopping. As a result, the importance of digital marketing has increased many times over in order to reach both new and existing customers. Of course, this has led to more digital marketing campaigns being launched to increase sales. The Criteo report on the impact of COVID-19 on marketing in India reinforces this digital trend. More than 80% of those surveyed emphasize the growing importance of digital marketing.
Analysis of the effects of the pandemic
Despite the confirmation of lost sales due to COVID19, 40% of marketers blamed the pandemic for the accelerated digital transformation of their business processes. 50% of them increased their digital marketing spend during COVID19 and plan to increase their advertising spend on performance marketing channels. A direct consequence of this was 46% who were more focused on alternative sales channels and partnerships and 41% who were focused on improvements in top-line sales.
A positive result for companies during the COVID19 pandemic was that 65% of respondents in India agreed with the growing importance of marketing as a function due to increased digital marketing activities for customer acquisition. The evidence for the pudding in the Criteo survey came from 55% of marketers who confirmed they made significant changes to their marketing strategies during the pandemic. They also planned to spend more on social media, content marketing, paid videos, and advertising for retail websites / apps.
Planning of the comeback 2021
Perhaps the most important goal of the Criteo marketing survey was to identify the key marketing goals of companies looking to recover in 2021. The priority will be to retain existing customers and expand their offerings. The other main motivators are attracting new customers and transforming current business models. The Criteo Marketing Survey shows more evidence of the shift from a physical to a digital paradigm.
However, the gradual shift in marketing focus towards digital brings its own challenges. Most marketers feel that in the final months of 2020, it was important to them not to appear next to hateful and fake content – a sentiment that is expected to continue into 2021. Driving app installations will be just as important as cross-channel retargeting between web, app, mobile and in-store will have top priority.
However, many marketers are skeptical about making their digital campaigns too dependent on Facebook, Google and Amazon, while many are concerned about the traffic quality and consequently the brand safety of their digital campaigns.
Best Practices Advisory from Criteo
There may not be a magic bullet, but the Criteo Marketing Survey on the Impact of COVID19 provides plenty of data to help marketers not only increase ROI in these uncertain times, but also get more money out of their marketing budget. The focus should be on a big boost in sales to make up for lost sales for 2020, reach newer audiences, and provide the right content and context for your advertising.
Criteo Marketing Solutions provides best practices to help marketers focus on these goals. Marketers should focus on engaging consumers at the right time and influencing their buying decisions. Consumers need influence when browsing retailer websites and e-commerce marketplaces. The focus should be on reaching buyers at the digital point of sale. The mantra for 2021 should be to connect with consumers at the right time to help them purchase the exact products and services.
For more details on these results, download your free copy of the report.
This is an article with partner content related to exchange4media.
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