Do you think Coronavirus will change marketing for the future?
Marketing experts are stating that Covid19 will change the marketing industry as we know it. But we believe that once the economy is on the mend, then marketing will bounce back, likely stronger than before.
For example, during the Spanish flu the estimated death toll was close to 700,000 in the USA. Also deaths were disproportionately young and middle-aged people. These were typically those that were working and driving the economy. Covid 19 appears from what we know seems to mostly affect the elderly, who mostly don’t work. So not affecting the work force like is did back in the 1900’s. The US recovered quickly even though working age people that were dying has more of an economic impact.
Today, the death toll has been far less. So far, no stock market crashes or people starving where they weren’t before.
People are still shopping and buying
Look at McDonalds and KFC drive-throughs. The moment they opened the lines of cars were blocking roads waiting to get in, some people waiting three hours to get a Big Mac or a bucket of chicken. The public are out spending as soon as they can. See this article regarding KFC opening.
Even when there is a risk of catching Covid-19 from packaging there was a huge increase in deliveries as people chose to shop on-line. Still buying non-essentials from Amazon, eBay and other online retailers. We are still spending.
How will Covid 19 change marketing?
Will it change, yes of course, but it was going to do that anyway. With the rise of Social Media and new platforms gaining momentum the way we market was going to be different anyway.
How we work will also be different with more people working from home, virtual meetings and on-line events are likely to become the new norm.
Most people spend half their time using phones and tablets to watch videos, TV Shows and listening to radio. And even more so since the lock down. This increase gives marketers even more opportunities to reach people. Still being able to build brands and it’s never been easier to target specific demographics.
So marketing we don’t believe will drastically change because of the Coronavirus, just naturally as it would have anyway.