In 2020, as we are painfully aware, the consumer got to stay at home. They managed their households, taught school, and went to work in their PJs. For many, a typical day consisted of surfing the web for things to watch and things to buy.
Now we have the good news of multiple COVID-19 vaccines. The prognosticators are telling us that there will be a rush to buy, a rush to travel, a rush to restaurants, and a rush to retail due the pent-up demand generated over the past year.
Now, if the vaccines are distributed and then injected into the bulk of our population, I do not doubt that our economy will jump back into action. However, I suspect that we will need to be good marketers to capture our share of the pie.
What does the consumer expect from you in 2021?
Personalized engagement—if you do not use an identity resolution methodology that affords a cross channel response to me that clearly recognizes me as a unique individual, I suspect you will not receive my business. Advanced tag management in concert with an ID graph can feed a CDP to create relevant campaign contact and content.
Awareness of criteria for use of your services—to date in my career only primary marketing research has allowed me to craft a true market segmentation scheme. Who, What, When, Where and Why? Nothing beats a great survey! The messaging clarity derived from best-in-class market segmentation is powerful indeed. This research has a robust shelf-life and financial impact that’s truly impressive. Do you think that my reasoning for engaging with you has changed in this post-COVID world? Am I seeking my dad’s Oldsmobile or an autonomous driving EV? A leader/mentor in my career, Daniel Yankelovich, taught us that you can only discover the unserved consumer with primary research. You can view current customers via their transactions.
Grasp propensity to buy now—again the survey is a mighty sword in obtaining the necessary consumer insight. If we ask consumers if they plan to take an action, collect those responses and then model the total universe based on our sample, we are able to score our marketplace for their current intent to buy our product or service if we campaign now. If a consumer does not score high, then why are you aggravating them with an offer that has no interest to them? I always smile when the answer is that email marketing has little or no cost. The cost of ill will due to bad/lazy marketing is exorbitant.
I wish everyone a healthy and profitable 2021. If you remember to recognize your customer by their name, their need, their current plan to spend then part 2 of my wish should come true.