The COVID19 pandemic has reinforced a notion that most experienced marketers already knew – to engage consumers, you need to communicate with them in extremely local, relevant, and precise terms. Without understanding the circumstances that are affecting your target consumers, it’s impossible to engage with them. Marketing messages that aren’t personally relevant to target consumers will fail to make their intended impacts. ‘
Generalized categories like age or gender aren’t as important as an individual’s situation, psychographics, attitudinal characteristics, or personal values anymore. Creating human connections with target consumers is set to become extremely challenging for brands over the next few years as the marketing industry is currently dealing with various challenges like –
- Google is Not on the Side of Digital Marketers Anymore – For a long time, digital marketing was mainly about buying large amounts of ad spaces on Internet platforms like Google, hoping some of the ads lead to conversions. All that’s about to change as Google is ferociously advancing with its plans to eliminate the widely popular tracking technology on the Chrome web browser. Marketers are heavily reliant on this tracking technology to target ads at individuals. However, the search engine is currently looking at more privacy-friendly alternatives as substitutes for third-party cookies, which helped digital marketers track their target consumers’ browsing habits. Google is expected to permanently eliminate these marketer-friendly features by January 2022.
- Customer Loyalty is Being Redefined -The pandemic has transformed the concept of brand loyalty. In a recent survey, thousands of consumers were asked what types of actions they would be prepared to take for the companies they’ve engaged with for long periods. 68% of the respondents said they would be willing to sign up with the favorite companies’ brand loyalty programs. But, 56% of the respondents also said that if other companies were offering cheaper options, they would have no problem switching brands. In 2019, only 34.5% of the respondents to the same survey had stated that they would switch brands for cheaper alternatives. That figure is up by 22% in just a year!
- Consumers Want Brands that Support their Social Beliefs – Growing consumer awareness and grand-scale displays of activism all throughout 2020 is compelling brands to reconsider the types of values they express in marketing messages. In fact, consumers are now looking for qualities like commitment to environmental sustainability, ethical sourcing, social responsibility, etc., from their brands in addition to quality, convenience, and cost-effectiveness.
- New Expectations – Post-pandemic consumers expect much more than personalized ads. They want their brands to offer personalized experiences whenever they buy something from them.
It’s evident that adopting a “one-size-fits-all” approach towards marketing will be lethal for brands in 2021. In an era of personalization, brands have to use more consumer data and insights to hone their decision-making processes and inject greater doses of personalization into their customer interactions.
The only efficient way for brands to gain these vital insights is to exploit truthful and up-to-the-minute market research. If your company is in need of direction and order, you need to find market survey company in Indiathat can help your company reconnect with its target audiences.
Top market survey companies help ‘directionless’ brands find common ground with their target audiences by – conducting detailed interviews, creating extremely detailed surveys, assessing all the data collected from surveys, and drawing data-based conclusions that can later be used to shape the company’s long-term marketing strategies.
Without deep research into customer behaviors and practices, it’s impossible for brands to keep tabs on the ever-changing natures of consumers. Here’s how top market survey companies are helping local brands during the pandemic –
- Understand the Current Market Mechanics – Post-pandemic market research will rely less on historical assessments of individual markets. Brands need to steadily track market performances throughout the year, considering the countless interconnected factors at play, such as regional economic slowdowns, new lock-down policies, fatality rates, job losses, etc. Objective market surveys will enable these companies to have flexible marketing strategies with long-term goals.
- Identify New Market Opportunities – Surveys help companies get closer to their target consumers. The actionable insights these detailed surveys provide can be used to identify new growth opportunities and make agile choices. The pandemic should deter companies from finding new market niches. Market surveys enable companies to reshape their products and services based on what new niches they identify.
- Data-Based Decisions – Despite the COVID19 crisis slowing down in certain regions of the world, economic volatility will still plague the world for the next couple of years. Data is the best weapon against market volatilities. Business leaders can depend on their market surveys to make fact-based decisions in an environment where many are struggling to distinguish reality from fiction.
Whenever there’s a crisis (for example, the 2008 recession), companies look to chop down their market research budgets. In 2021, such decisions can kill brands.
On the other hand, companies that invest in the collection of vital insights and up-to-the-minute market research learn exactly why they are losing customers. These companies take the right steps to stop the loss of customers faster than their competitors. That’s why the demand for high-quality market survey companies is so high!