- In our latest interview series, we try to decode how brands and organizations are adapting to the new normal, and what the marketing world might look like in a post-Covid world.
- In today’s interview,
Ajit Kumar , Leader,Deloitte Digital ,Deloitte India tells us how there will be a major pivot in how organizations work and brands engage in the near future.
The world of advertising has been hit too. Mediums like OOH, Experiential and Print are suffering as people are stuck in their homes. On the other hand, mediums like Television and Digital are witnessing a surge, due to people’s increasing time spent on both. These are opening up avenues for brands, who are experimenting with these mediums. However, while the overall advertising pie may shrink this year, it is also giving the advertising industry as well as brands an opportunity to open up its doors to experimentation.
Food aggregators and grocery delivery platforms are experimenting with contactless deliveries. Contactless retail might also become a reality in the near future. The way we do business might see a complete overhaul.
In order to get a sense of what more changes can we anticipate in the advertising and marketing ecosystem in the near future, we reached out to Ajit Kumar, Leader, Deloitte Digital, Deloitte India. Here’s what he had to say:
Q) The Covid-19 lockdown pushed brands and organizations to make use of technologies that while being already available, hadn't been used effectively till now. Do you think the way organizations worked till now will see a complete overhaul in the post Covid-19 world?
This pandemic has largely pushed everyone indoors and everything online. Businesses and their customers overnight had to rethink how to satisfy needs without exposing people to the virus. Once-simple things such as shopping for groceries, getting a prescription filled, or seeing a doctor for routine matters now require higher levels of investment in digitization to keep people safe. Home is the new storefront for customer engagement. Factories are the new lego blocks, being reconfigured overnight to produce new needs of customers. Supply chains are being deconstructed and reconstructed to match supply and demand. Digital systems that might have been nice-to-have turned into must-haves on account of the pandemic. As a result, digital adoption and hacks have accelerated to meet the customers where they are, creating experiences that are virtual and usually better and hence could become the next normal. Brand and organizations that are agile and digitized are seen to be thriving and majority of the rest are digitizing rapidly. When such changes bring efficiency and better experience, its likely to be irreversible. This definitely marks a major pivot to how organizations work and brands engage.
Q) In the last few years, marketers have shifted focus towards customer experience rather than product and innovation. Will this continue to be a brand's area of focus even once the lockdown is lifted?
Focus on customer experience is expected to be more than ever before. Brands would have to focus not just on delivering superior customer/ user experience but elevating human experience. Done right, emerging digital offerings for newly prioritized human needs have the potential to replace in-person interactions but still maintain the human touch. This is likely to drive better connections, loyalty and trust. Customers today are seen to be generally anxious, scared and value safety and trust. Brands need to reassure them to retain their loyalty. The products and services need to evolve rapidly and follow to deliver that promise. For e.g., many grocery stores are offering touchless delivery, order and pay online and pick up at your doorstep. Or if you’re in a car, get your order placed in the trunk by the curb-side. By putting your customers’ interests first, this can be a time for a company’s brand to lead.
Q) The current situation has shown us the limitations of a few mediums like OOH and Experiential. Do you anticipate more brands to take a digital-first and digital-only approach in the post-Covid world?
The current situation has triggered a digital up and physical down trend. It has become imperative that every solution that brands think of implementing from now on needs to have a lens of "digital first mindset", this is where everyone should have started long ago. Experiential marketing of the future is likely to see the emergence of mixed reality channels. Brands need to identify and optimize the correct marketing mix of web, mobile and digital infused offline channels based on their industry / sector.
Q) How do you think this situation will change the way brands market themselves?
The current situation has gifted organizations and humans a rare moment for true introspection. As we emerge from this crisis, we must re-evaluate why we exist in this changed world and what value we truly create. Brands have to demonstrate that they care for not just their own sales/profits but show empathy towards the people - employees, customers, suppliers, and others. As brands reconnect with their true purpose, and align with their customers values, higher emphasis on social impact and environment will follow, consistent with the expectation in the next normal.
Q) If you were to give a few marketing tips to brands to help them get their marketing strategies right in the times of crises, what would they be?
Firstly, customers today want brands and businesses to show how they are protecting employees, paying it forward and helping stop the spread of the disease. Marketing messages should address these aspects in an authentic manner, tying it with their core purpose. Secondly, there are several viral topics and initiatives emerging. Brands need to be alert and deliberate in identifying which ones they want to be associated with to capture the mindshare of their existing and prospective customers. Last, but not the least, it is extremely important for brands to review their creative content to demonstrate sensitivity (handshakes, crowds) to the existing situation and next normal.