The effect of COVID-19 had caused digital marketing, virtual sales channels, and other digital transformation strategies to have undergone a remarkable change in growth. Even without the help of any standard operating procedure or playbook, there has been a rapid change in the transformation of marketing.
It has been announced that GroupM’s global advertising forecasts are coming out next week, ’The Great Shift 2020’ publication will provide us the key context of what the forecasts will be and it will give us the details of the shift caused by the pandemic in the auto, CPG and e-commerce, telecom and financial services and entertainment, where the industry have gone through significant change. Due to this, we should change the way we think of them as a source of inventory.
There are some key takeaways like auto has rebound from 40-45 percent decline to a low point to current levels of flat or better. Car manufacturers have decided to change into direct online relationships with their customers. Thus it would be vital for them to invest heavily in consumer insights to integrate new experiments desired from customers in the buying process. COG manufacturers experienced a change in how their products are sold which have led to an increase in 277per cent in retail sale via e-commers channels for health and personal care, and food and beverage companies
Telecom consumers have increased their usage of the internet. They have responded with faster and robust to support or schooling from home and increase the service growth telehealth needs, e-commerce, and contact tracing systems. The financial service has been in good shape in this pandemic period since they were added by the central bank all over the world, it is also paired with the new government. Banks have become a role model for other industries. Entertainment has been soared in large areas because the spending on the content package is increasing.
Reports give us that digital channel increased by 70%, on average account for 12% of total sales of these companies it is expected new stage where sales of e-commerce would grow in near future. Thus the companies are growing fast to adapt to the new nature.