Marketing Strategy During Pandemic – Transforming Data Marketing: How the ethical mirror of customer data is shaping the future of marketing
Feeding strategies to increase nitrogen retention and improve rumen fermentation and rumen microbial population in beef steers fed tropical forages
Marketing Strategy During Pandemic
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Humanizing The Digital Experience In A Post Pandemic Era
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Future Proofing Your Digital Marketing Strategy In The Era Of Constant Change
Faculty of Culture, Administration and Social Sciences, University of Twente, P.O. Box 217, 7500 AE Enschede, The Netherlands
Received: 16/08/2021 / Revised: 9/09/2021 / Approved: 11/09/2021 / Published: 15/09/2021
This review expands our view of the ways in which the required adaptation of digital channels due to COVID-19 has affected the creation of brand equity through social media marketing. Based on a systematic literature review, we propose a conceptual framework that answers the following research question: During and after the COVID-19 pandemic, how can companies adapt their social media marketing strategies to create brand equity? The conceptual framework describes four areas as the basis of a social media marketing strategy. First, (1) companies need to develop a clear vision for their social media marketing efforts and (2) evaluate existing brand content. Based on this (3), marketing measures should be delayed or adapted to customer needs. Finally (4), companies should adapt their messages to be responsive and convey relevant information. In this system, governing parties, financial institutions, influencers and consumers are identified as influential stakeholders that help companies improve their social media marketing strategies. These findings are important for researchers and companies to better understand the long-term impact of COVID-19 on social media marketing. In addition, they show that the roles of online and consumer channels will continue to grow.
The spread of COVID-19 has created significant growth for Internet-based businesses as more and more consumers shop online [1]. In 2020, the global e-commerce market grew by 27.6 percent, surpassing US$4.28 trillion [2]. In recent years, organizations have been influenced by digital technologies that are changing organizations, customer interactions, and value creation [3, 4, 5]. Online shopping has created an opportunity to conveniently compare products and consumers can easily choose the products that suit their needs [6]. The majority of young consumers have switched to online consumption, which affects the operations of companies, as young consumers are more likely to make purchases on social media [7]. In addition, 62 percent base their purchase decisions on the impact they have on society, for example sustainable and green products, while the corresponding figure is 53 percent of middle-aged and 44 percent of elderly consumers [7].
Small Businesses Get Creative To Survive During The Pandemic
After more and more consumers and businesses adapt to buy and sell through online channels, digital marketing is becoming more competitive [8]. Considering the state of digital marketing amid the COVID-19 pandemic, social media marketing (SMM) should be given special attention as it offers a variety of tools to effectively target consumers. Social media has also become a major influence in online shopping, with research showing that 54% of young consumers’ purchases came from independent retailers they found on social media [7]; this is 43 percent of middle-aged consumers and 25 percent of elderly consumers. This is especially promising because social media has become the primary communication channel for many people and the amount of time consumers spend online has increased dramatically since the beginning of the crisis [1, 9]. Since SMM is designed to create interactions with customers on digital platforms where they already spend time, companies can improve their customer experience by analyzing customers and their stories [10].
As social media has transformed into a user-centric platform where consumers gather information, communicate with other consumers, and share their opinions, companies that want to sell their products are considered unpopular [11]. Therefore, companies must work effectively to create brand equity in order to survive in the competitive Internet market [1, 12]. However, it is not clear how the COVID-19 crisis has affected the way companies should create long-term brand equity through SMM, while simultaneously adapting quickly to rapid change and growth. competition in digital channels. In addition, communicating brand benefits and accurately measuring brand equity is still difficult for many companies [13] and current research emphasizes customer-oriented behavior, i.e. purchasing behavior, consumer decisions, and business consequences. Topics such as impulse buying, consumer behavior, changing brand perceptions, do-it-yourself practice, and the transition to online work, learning, and shopping are common in the literature [6, 9, 14, 15]. Instead of a consumer perspective, this study broadens the perspective of companies that are forced to quickly adapt to changes in online and consumer behavior in order to create brand value. Previous research on the impact of COVID-19 on businesses has identified factors that can influence how businesses and consumers create brand equity online. These reasons highlight the importance of research and detecting potential long-term effects and changes in brand strategies in the context of brand equity, which was not seen at a level prior to COVID-19.
The first factor is the digitization of business practices, which requires many people to work from home. This is believed to affect the way organizations and consumers work. Sharing digital information through organizations, i.e. customers and external experts, has a negative effect, because home work creates the employee’s perception of social distance from the company [16]. The digitization of business practices also affects consumers because they are more concerned about the adoption of mobile payment services, when consumers face misalignments with their current schedules or habits, negative thoughts, personal concerns, and lack of visibility in the community [17] . Thus, those who are satisfied with digital services tend to buy regularly and in large quantities [18]. This may indicate that when companies are unable to communicate the development of digital channels and how they can help customers, customers are less likely to purchase products and services from these companies.
In addition, another factor is the importance of a brand’s participation in social media to create brand value, because brand participation in social media allows companies to directly communicate and interact with consumers [19]. The importance of building an online presence has grown during the crisis, and building a positive brand image through various forms of customer engagement can help companies create brand value online [20]. This is more important than ever at a time when consumers spend more time online and positive early SMM-based experiences provide consumers with cognitive, social and personal benefits that positively influence brand equity [20, 21].
The Impact Of Covid 19 On Capital Markets
The third additional factor affecting the context of this research is funding, as the financial situation of many consumers and companies has changed significantly during the pandemic. Research shows that stocks that focus on developing brand equity are somewhat affected by the pandemic [22]. Those who are informed and participate in financial discussions and news are more likely to participate in situations related to buying and selling goods, such as COVID-19 [23]. In addition, it has been suggested that consumers look at the recommendations and behavior of others and make decisions based on others [23]. This shows that knowledge and awareness of what others are doing is an important factor in how businesses and consumers make financial choices. This can affect the way they buy and sell through online channels, highlighting the importance of examining the impact of e-commerce on social media marketing during the COVID-19 pandemic.
Based on the above, the aim of this study is to answer the following research question: How