So many people talk these days about “how the virus transformed the way consumers spend their money?”. And, if the New York Times – with their interactive graphics and everything – are throwing their arms around it, we are here to make sure you will not miss it!
Welcome to another quick “awesome links” roundup from PostFunnel – where we share some of the best, more interesting, relevant, insightful things we stumbled upon lately on the world wide web.
And we start with the aforementioned NYT article – open for free, as all of the Times coronavirus related content. It includes 9 different charts. And even as most of them show figures you probably know by now, the visualization makes it easier to derive conclusions. Or action items.
For example, if you own a restaurant and see this:
We can only assume you’ll realize you must triple-down on delivery services right now, and perhaps for the foreseeable future.
If you are not on this trend yet – you probably should be working towards it. From huge names, such as McDonald’s, and Subway, to small businesses all around the world, many are already practicing it. Some even added simple, basic groceries to their menus (think: order milk and bread from Panera. Oh, wait).
Ch- Ch- Ch- Changes to Supply Chain
This is an important outcome to the fact we are all now eating at home. On Freakonomics Radio’s latest podcast episode, they discussed what it all means to the supply chain of food in America, now and going forward. And adding existing inventory of basic ingredients to your menu, thus changing the “natural” flow of the national supply chain, is one of the many insightful angles they dive into.
For us, it’s another example of how the way brands are dealing with this situation is pushing them to compete in new territories. Will these brands stay there the day after, or go scale back to their core offerings?
Obviously, a main tool in making these decisions is data. And in the realms of digital marketing and relationship marketing, measuring the right things is not only crucial, but it is also totally doable. Still, only 5 percent of retail marketers say they have the right depth of data at their disposal, according to this new study published by CMO Council.
The Blueprint for Your “Exit” Plan
Throw in a few insights from The Global AI Agenda, by MIT Technology Review Insights, according to which “nearly half of consumer goods and retail firms (47%) are using AI in customer care,” and here’s your already on your way to compiling a blueprint for your revised 2020 marketing plans.
If that’s not enough, perhaps these 7 tips for communicating during a crisis from marketing and other business executives would come in handy as well. And we think you should specifically listen to these words, by Michael Kaushansky president of Helia & Chief Data Officer at marketing agency Havas, when he’s saying that “most brands were hit by surprise and not truly prepared. The evidence now points to direct consumer relationships as the golden ticket.” Hear that? Maybe we should make “Consumer Relationships as The Golden Ticket” our new tagline.
One the Bubble
Before we go, we thought you must not miss on these two opportunistic marketing initiatives.
Here, you can purchase what we think is the best coronavirus merchandise thus far – Dr. Fauci bubblehead.
Because, of course.
And here, we were amazed at how we didn’t see it coming. THEY HAVE THE SAME INITIALS!
That’s all for this roundup. And remember: clean your data:
