By Mayank Khanna
Corona Immune strategies (Cone), named after the business environment created by COVID-19, is basically a package of new and innovative marketing strategies keeping human psychology in mind, to support business strategies in a Volatile-Uncertain-Complex-Ambiguous (VUCA) world.
Businesses are affected by the lockdown: people are panicking because of layoffs and restrictions, economies have slumped, world recession seems around the corner and life seems at a standstill. Many businesses are finding it difficult to comprehend the steps to take in order to not fade into oblivion, because of the current market scenario.
Cones, the package of new and innovative ways to combat the rising volatility, can be the way ahead for marketing managers, in particular, and businesses, in general. The following Cone strategy can be adapted:
- Content Marketing: A marketing approach for the creation of valuable, relevant, and consistent content to attract and retain the target audience.
Idea to implement
Create awareness, generate interest, establish emotional connect, or entice existing customers. The focus should lay on providing solutions to relevant pressing matters.
“No-contact delivery” and “Best Safety Standards” introduced by Swiggy to meet the safety concerns of its consumers.
- Colour Psychology: It states how colours play a role in the visibility, recognition, and perception of brands.
Idea to implement
Using colours that best suit the purpose.
For instance, yellow is said to induce cheerfulness and happiness. Since social distancing has nurtured gloomy days using yellow can be refreshing and catchy for user attention.
Zomato uses the colour red, as it is said to stimulate the appetite. Therefore, assisting in its food delivery business.
- Conversions after Brand Equity: A Brand’s recall value, perception, and engagement should be of prime focus (exception being businesses that are in the essential goods and services industries). Focussing on conversion can result in negative brand perception.
Dominos partnering with ITC Foods for “Doorstep Zero contact delivery” of essential items in Bangalore can garner traction.
- Social Media Marketing: It is the use of social media platforms and websites to promote a product or service.
Idea to implement
Every social media platform has its niche. Use content that best suits the platform: this increases organic engagement.
Videos and blogs have a longer shelf life as compared to posts, as they are searchable, thus, making them evergreen.
In terms of paid-ads, interstitials and ad banners increases engagement. Geo-fencing and SEO through keyword research can be productive.
Also, the website and mobile application working on the User Interface (UI) and User Experience (UX) would provide a refreshing view.
- Socially Responsible Marketing: This focuses on attracting consumers willing to make a positive impact with their purchases. The brand builds an emotional connection with the audience, which creates a positive brand perception and augments conversion rate.
Marico claimed that the share value of Nihar Naturals in the east grew from 19.5 percent to 21.5 percent in January-October 2011 – the duration of the marketing campaign (wherein 2% of the sales proceeds would go towards student’s education) against a drop of 0.3 percent in the same period, the previous year.
Even though the above marketing strategies might help you in holding onto your spot; creativity, relatability, and intent to solve problems, always garners more traction. Thus, in such critical times, the agenda for marketeers should be to reach where their audience is, being sensitive, showing empathy and laying focus on consumer sentiments.