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Facebook-BCG report proposes these measures for businesses to tide over COVID-19 crisis – Firstpost


Facebook India in affiliation with Boston Consulting Group in a report on Wednesday shared actionable steering for manufacturers to construct new client journeys in occasions of COVID-19 and past.

The report titled ‘Turn the Tide’ confirmed how COVID-19 has dramatically modified client habits and altered the path-to-purchase.
It highlights the behaviour shifts and outlined the chance for businesses across the altered path-to-purchase.

Sandeep Bhushan, director and head, Global Marketing Solutions, Facebook India, mentioned, “The ‘Turn the Tide’ report outlines the opportunities that businesses need to embrace in the context of new consumer journeys and category needs.”

“We are experiencing unprecedented shifts in consumer attitudes and behaviors – 80%+ consumers will continue to practice social distancing and are bringing the outside inside, over 40% of consumers are dialing up on health and wellness spends, e-commerce adoption has already advanced by 2-3 years – to name a few,” mentioned Nimisha Jain, managing director and companion, Boston Consulting Group.

The report recommends these measures to flip the COVID-19 crisis into alternative:

1. Build Social join in Social distancing: Engage with shoppers of their context
People, creators, and celebrities are on social media platforms in an unprecedented manner, and types have a possibility to leverage this huge engagement to construct stronger dialogues and deeper join with customers, it mentioned.

2. Focus on Hyper-Localisation: Connect with shoppers the place they’re
Micro-targeting can assist manufacturers get the primary-mover benefit with the nation being divided into totally different zones with distinct restrictions.

3. Bring alive experiences with digital entry: Virtual launches and product demos
As individuals flip to digital experiences for each side of their life, it turns into necessary for manufacturers to construct for this new buyer journey. “We are already seeing more brands explore Facebook and Instagram ‘Live’ to connect with their followers and customers. Now brands are thinking about using social media platforms for new product launches too.”

4. Optimize Portfolio for Value creation: Segmenting shoppers to drive differential worth
With the buyer changing into extra worth-aware, it turns into necessary for manufacturers to phase so as to optimize and provide what’s related for the phase.

5. Relook at media combine fashions to drive progress: Align to new media panorama
As manufacturers, particularly these with conventional product classes, begin spending extra on-line, they might really feel the pressing want to perceive actually incremental outcomes by platform in addition to cross-platform effectivity. This would enhance the necessity for business-main digital measurement requirements similar to customized combine modelling (CMM) by Nielsen that Facebook had piloted final yr.

6. Build your on-line presence: Own platforms and influencing marketplaces
The examine revealed that Indian shoppers might spend larger on e-commerce, even for historically offline classes. Surge in choice for on-line channel is sharper in India than in China, Brazil, Indonesia, Thailand, Philippines. This is the correct time to construct your on-line presence.

7. Strengthen CRM options: Messaging for publish-gross sales communication and different digital CRM instruments
It’s important to seamlessly resolve for buyer wants to get rid of friction within the path-to-purchase. Conversational digital options similar to messenger/chat bots and different digital CRM instruments can show to be helpful proper now.
(Click right here for the total report)

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