7 Important Things We Learned About Marketing in 2020

In 2020 marketers raised the bar of marketing strategy and creativity to different levels. Some might suggest that this rise was buoyed by the presence of the coronavirus pandemic which resulted in the use of alternative marketing approaches to attract, engage and retain prospects and customers.

These are some of the things we learned about marketing in 2020 and we’re happy to share these with you.

1.      Feature tell, benefits sells

New products hit the market on a daily basis and no two customers have the same exact needs.

What’s in it for me? This is the question every prospect looks out for in every product or services. Feature describes what the product has. Benefit on the other hand is a description of what the product does.

The latter is what nudges customers to make purchases. What’s the benefit of your product or services and what problem does it seek to solve?

For instance, selling a 5000mAh 4G powered smartphone in Nigeria. Nigeria is a mobile-first country and because of the power situation in the country, having a smartphone with long lasting battery life will be seen as beneficial.

To make sales, identify your customers’ needs, then sell the benefit of the products. Tell plus sell.

2.      Word of mouth marketing and customer review are the holy grail of marketing

In a year where Covid-19 almost halted one-on-one conversation, word of mouth marketing still found a way to remain relevant in marketing.

Customer review and word of mouth marketing are still effective in driving sales online and offline. The following statistics confirmed it:

• Nearly nine out of ten (89 percent) consumers worldwide make the effort to read reviews before buying products.
• 39 percent of consumers aged 55 and above say they have more trust in personal recommendations.
• 78 percent of people trust online reviews as much as a recommendation from friends and family.
• 97 percent of the consuming public read reviews online to search for local businesses, and 12 percent do so daily.
• 65 percent of shoppers trust products more when reviews have user-generated content such as photos and videos.

Word of mouth marketing and customer reviews are invaluable in today’s marketing environment and they aren’t slowing down.

Read also: Effective sales strategy of the Igbo traders: How to replicate strategies online

3.      Customers can see through inauthentic campaigns

Marketing campaigns are initiated with the aim of promoting products, increasing brand visibility and acquiring more customers.

Brands chasing clouts with inauthentic campaigns and online competition may think they’re playing on the intelligence of their customers. However, this is quite the opposite. Fake marketing propaganda can be spotted by customers.

Be transparent with your campaigns. Only offer packages that you know you can afford. Deliver on every promise made. Treat your customers like the king that they are.

4.      Strategy is needed for proper execution

Marketing to the wrong audience amounts to noise.

Strategic planning in marketing requires you to know your ideal target audience, segmenting these audiences to drive relevancy and then use the market insight to offer tailor-made services.

You need to develop a rinse and repeat marketing and sales strategy. What’s the essence of a strategy if it can’t be replicated or reformulated?

Marketing strategies take time and effort to develop, and more than that, they require a sizable budget to operate until you find something that works.

5.      Marketing is about value-addition

If you work in marketing, have it at the back of your mind that you’re there to help people make money, save time, achieve set goals etc.

Every marketer’s job is to deliver some form of value to their prospects and customers. Your goal is to deliver a truck load of benefits.

Being human, helpful and personable will endear your customers to your brand and help you build a community of loyal follower-base.

This is one area where marketing differs greatly from advertising or PR even though the trio share other common characteristics between them.

Read also: 3 ways to position your brand for sales on Instagram

6.      Influencer marketing can be a business growth tool when used appropriately

A well structured influencer marketing strategy helps generate a positive talking point around your brand which can attract new prospects to your business.

When use appropriately, influencer marketing can boost your brand health and keep it trending on social networks

Social media influencer marketing can also serve as a form of online reviews because of its positive nature. If so many people are talking positively about a particular brand, there’s a huge possibility that some if not all of it might actually be true.

Though these influencers are paid, it still doesn’t take anything away from other users who’ve been drawn to the conversation. They’re entitled to their own opinions and if they choose to comment positively, it shows the brand must be doing something right.

The benefits of influencer marketing as a business growth tool can’t be over-emphasized.

7.      If content is king, conversation is queen

Authentic conversations and genuine interactions with customers are key.

2020 showed us that brands can put back the “social” in social networks by engaging in meaningful conversations with their audience and by humanizing these conversations.

Social media represents a level-playing field for brands and their audiences. To make an impact, you need to connect with them in the most human and helpful way possible.

People want to be friends with the brands they love. Don’t take that away from them. Content is still king, but genuine conversation drives community.

Conclusion

2021 will be an even challenging year for marketers. The presence of new marketing channels requires a change in marketing approach and the understanding of these platforms and the benefits they contain will be critical for success going forward.