Each month, approximately 409 million people view more than 20 billion BLOG pages. There are about 70 million posts being published each month by WordPress users. 77 million new blog comments are generated by readers each month. 71% of WordPress sites are written in English yet too many people, and brands, don’t BLOG.
SUMMARY: Marketing strategy is an essential part of business planning, but in these uncertain times, your strategy has to be flexible. Brands need to change course rapidly to leverage competitive advantages, but organizations are not built for speed, which is a huge problem.
SUMMARY: According to Shopkick “a heightened focus on safety, financial health, and social justice issues will remain top of mind for consumers as they anticipate the new year, with 60% saying the pandemic has forever changed their shopping habits — consumers say they will always be stocked up on essentials, make fewer but bigger shopping trips, and buy more online.
SUMMARY: Companies want a great brand because it attracts new customers, gets current customers to spend more, and keeps customers loyal. Great brands dominate the markets they compete in but bigger ad budgets or shifting dollars to digital is not the way to grow brands.
HEY NOW: So much has changed since the pandemic when it comes to consumers and the way they shop yet too many brands continue to market like the good old days of mass marketing and continue to try and expand their market with taking care of their best customers.
HEY NOW: Forget everything you learned in school about marketing because with the continuing pandemic and political climate everything is out the window. The current environment is leading to the biggest change in consumer shopping since mass media.
KEY POINTS: McKinsey has reported that 75% of consumers have switched brands since the pandemic has started. Private label sales are increasing in double digits as current brands struggle. “What we have here is a failure to communicate”.
Marketers who are still focused on market share are missing the reality of today’s consumer power. Consumers are both trying new brands and moving to private label products at a record pace. Brands should be doing two things right now. First, remove costs from the supply chain and second focus on keep existing customers happy.