Why was the research conducted?With the impact of COVID-19, marketers have adopted innovative & strategic solutions to drive businesses. Thinking Hats intended to capture new marketing trends and various ways in which brands are engaging with their consumers during these unprecedented times
How was the research conducted?Extensive secondary research was conducted to capture marketing trends across sectors in the Indian landscape.
What are the key findings of the research?INFLUENCER MARKETING – Collaboration between brands and influencers: Brands are targeting promotions via social media through celebrities and social media influencers – using social influence ensures a widespread awareness to the targeted group. Symbolizing a sense of normalcy, consumers are looking for people who they trust or are familiar with. Thus, association with a celebrity/influencer resonating its personality could be a successful approach for the brand.
THE NOSTALGIA EFFECT – Reminiscing the good times: From Amul comics to Dunzo and Doordarshan, old is gold seems to be the new mantra around, and for all the right reasons. Recent research suggests that taking a trip down memory lane can make us spend more on products. Nostalgia weakens our desire to hold onto our money, instead fostering social connectedness. Using the rose-tinted sense of positivity that accompanies nostalgia, especially in tough times like Covid 19, brands are fostering a connectedness and reassurance within the consumer through this Nostalgia effect.
TRANSPARENCY AND PRO-ACTIVENESS – Consumer comes first: A simple dialogue by brands to consumers about the pro-active measures undertaken ensures the consumer about the goodwill that the brands have and creates a halo effect in the consumer’s mind, where the consumer will view the brand in a positive light.
USING POSITIVE AFFECT TO CREATE POSITIVE EMOTIONS – Staying relevant during a lockdown: Even brands with a steep decline in their sales are not leaving any stone unturned to establishing creative communication routes with their consumers. A plethora of brands – Mercedez Benz, Asian paints, Converse as well as museums such as Dr. Bhauji Lad Museum, are engaging their consumers through productive pastimes, mental and creatively stimulating activities such as- Mercedez Benz – #ColorYourBenz, Build your own driver, Asian Paints – #HarGharKuchKehtaHai- Gaming moments, Converse – #CreateAtHome, Dr. Bhauji Lad – Treasure hunt Tuesdays using virtual walk through the museum.
HomeConcerts - Finding Alternatives to Live Events: The cancellation of trade shows, seminars, concerts, and conferences means entertainment sector and businesses have lost a major source of leads they count on every year. The brands are thinking out of the box ideas to mitigate the repercussions of this pandemic. Event companies are therefore, hosting online concerts to entertain the audience. The very important aspect they have cap-sized on is adapting to the change.