Marketing In The Era Of COVID 19
BY
Realty Plus
Luxury Marketer and Startup Evangelist Sabeer Ahluwalia has been heading the Marketing & Sales of quite a few top global luxury brands representing Mercedes-Benz, Porsche, Ducati, Audi etc. Sabeer has also mentored and made investments in Artificial Intelligence, Drone Tech & IoT Startups along with TCS East Former Boss — Sridhar Bakshi apart from representing ICC’s Young Leaders Forum & Expat Club of Calcutta
In light of the emerging threat of Covid19, The Central Government decided to put the entire country into a lockdown starting with the Janata Curfew on 22nd March. Few months ago it would have been inconceivable that the world’s fifth-largest economy would be brought to a virtual standstill caused by a Virus that originated in China. Fast forward 2 months and many believe that the infection spread is finally plateauing from rates that doubled in 2 days to doubling in 8-9 days with the recovery rate at 35% right now. As expected the economy has taken a major hit which is why the policy makers in New Delhi have announced our biggest stimulus ever worth over 20 Lakh Crore to revive the economy.
The real estate sector contributes 6-7% of India’s GDP and it is one of the sectors left reeling from this global pandemic. Ask any economist and they will tell you that you can judge the health of a economy by looking at it’s real estate sector as it acts as a multiplier because it is inextricably linked to various other industries and sectors. One of the major hurdles facing this sector is marketing in the era of Covid19. How to successfully reach our target customers when the consumer sentiment is at an all-time low. Many builders might believe it is time to cut back on marketing expenses adopting what they believe to be a safe ‘wait and see’ approach to better manage their cash flows but this could prove to be a mistake.
Consumers are now even more risk averse and therefore are likely to stay away from more volatile investments in financial securities and move onto what has been the universally considered safe investments: real estate and gold. With OOH, print media and other forms of traditional media taking a battering it is increasingly important for marketers to innovate and adapt.
The customer is more fearful now and it is our job as marketers to allay their fears whether through virtual interactions and digital communication while at the same time driving engagement across all platforms.
Artificial Intelligence is another area that should be looked at. While AI is a buzzword right now thrown around by a lot of people, what does it mean to you?. One of the rudimentary uses of AI is the use of chatbots which anticipate customer queries and answer all online and digital communications right away on the spot.
There are AI tools that are available right now that plot the customer journey from the beginning initial contact to conversion and based on these models predict future customer decisions. They can also be used to analyse your current digital campaigns on Social Media and Google Ads during every moment of the day and give you feedback to adjust your campaigns. AI Content Strategy Tool helps marketers discover and validate new content ideas that perform well.
Since covid19 is here to stay we have to adopt a robust long term strategy to keep building your brand and drive sales. Adopting Innovative marketing strategies will not only help in delivering the communication to the right person but also cut costs.
Tags :
EXPERT ZONE
Artificial Intelligence
economy
real estate sector
COVID-19
Marketing
Sabeer Ahluwalia
global luxury brands
Drone Tech & IoT Startups
ICC’s Young Leaders Forum & Expat Club of Calcutta
covid19