Facebook and GroupM recently launched a media playbook for advertisers and marketers to adapt to the change in consumer behavior as a result of COVID-19. Called ‘Turn The Tide’ Media Playbook, it offers a perspective on the evolving consumer and media landscape and recommends media strategies that companies can deploy to drive efficient outcomes.
A consumer behavior study recently done by Facebook and Boston Consulting Group (BCG) has examined three major consumer shifts since the pandemic – the reversal of past trends such as bringing outside experiences in-home through digital moreover because the increasing value-consciousness amongst people; acceleration of ongoing trends a bit like the significantly increased mobile and digital influence in every aspect of life; and, the formation of latest habits like do-it-yourself (DIY) furthermore as greater consider health and hygiene.
Sandeep Bhushan, Director, and Head, Global Marketing Solutions, Facebook India told us that they have been studying the changes happening in consumer behavior since March this year. They realized that while the shift in behavior is incredibly important to need a note of, it’s also important to look at the changes which are temporary, and which are long-lasting. Of all the three trends, the acceleration in digital adoption is that the foremost structural and long-lasting keep with the study.
Speaking about this Tushar Vyas, president growth and transformation – GroupM South Asia told that the pandemic has seen consumers switch their actions right from the way they socialize, shop, and work, which is a cause for brands and businesses to repurpose their strategies. In such times, brands must cautiously redesign their business models. Activities like grocery shopping have gone online from being offline and make find themselves adapting to the current shift in behavior. This can be true especially in cases where the new behavior provides ease and convenience of transaction. So brands will rethink their media strategies keeping in mind new consumer behavior.
The playbook outlines key media strategies to assist businesses to deliver efficient outcomes supported the four pillars:
• Embracing the entire spectrum of consumer segmentation
• Mastering the whole funnel of performance marketing
• Integrating innovations with business outcomes
• Realigning media mix models