What’s trending in 2020—and how can brands best adapt?

by | Mar 16, 2020 | Analysis, Public Relations

With more than half of the world’s population on the internet, growth is now beginning to slow down. Estimates are that the current 3.6 billion users will increase 6 percent this year, a slight drop from the 7 percent last year, but shipments of cell phones already decreased by 4 percent in 2019 over the previous year. Ecommerce sales in the U.S. were up 12.4 percent while in-store retail sales increased 2 percent. However, some economists are warning of a coming recession, and while companies can’t prevent a recession, how does a business adapt to the other changes?

Some tips

Marketers need to think smarter. One way is to continue learning more about the brand’s audiences, segmenting and then directing targeted and personalized messages to them in the frequency and format they prefer. This is not an easy task. Learning about a customer’s interests requires a program and analysis that helps a brand determine if the consumer favors casual to more formal attire, kitchen accessories that do it all or the basics, costume jewelry or high-end, etc. Such an analysis sheds light on the customer’s budget as well.

If customers are being sent emails, text messages, seeing influencer marketingand other forms of communication, analyzing what’s been most successful is invaluable. Some consumers may have higher open rates on text. Others may lean toward email or tweets. Utilize what works best for each.

Similarly, companies using videos to demonstrate, educate or explain need to pay attention not just to the subjects consumers are viewing, but also the feedback they’re receiving. Comments can often lead to new courses and even new product ideas or hints of changes in future consumer preferences.

Encourage reviews and comments, and above all, pay attention to these comments, both good and bad, and respond to them. According to Katrina Lake, CEO of StitchFix, an online clothing stylist  for men, women and children, all of their three million clients were acquired through recommendations.  Lake explained that her 4,000 stylists listen, empathize and deliver what their clients want without any judgment whatsoever.

Free trials and stewardship

For companies offering services, the offer of a free trial is the most favored among new customers. A survey of more than 10,000 consumers by 2BrightCove and YouGov revealed that free trials ranked highest over all other options among 42 percent of respondents.

Video conferencing company Zoom reported a conversion rate between 67 percent to 69 percent from offering free trials to prospects compared to averages in the 20’s for their competitors. The reason for the difference, they explained, was in nurturing the customer experience during and after the trials to ensure that customers are satisfied.

Multi platforms

Having a presence on more than one platform is also a good choice as long as marketers know which ones their public frequents. Although shipments of smartphones have declined, they still appear to be the best choice based on results by research firm Nielsen.

Nielsen’s recent audience report discovered that people are multitasking more than ever. Nearly nine in ten (88 percent) have a second digital device in their hand and use it when they’re watching television. Meanwhile, 71 percent are online searching for content-related information and 41 percent message family and/or friends while watching their favorite shows.

Daily PR Updates

Essential PR industry news, opinion, and analysis delivered to your inbox daily.

Ronn Torossian

Ronn Torossian is the Founder and CEO of 5W Public Relations: 5WPR is one of the 20 largest PR Firms in the United States.

RECENT ARTICLES

6 tips for communicating during the coronavirus pandemic

6 tips for communicating during the coronavirus pandemic

For brands, deciding how and when to communicate during the current coronavirus pandemic is fraught with difficulty. With the outbreak in full swing, we gathered six recent observations about the messages and communications channels brands might consider using (or...

How Gwyneth Paltrow’s Goop rebuilt its reputation after crisis

How Gwyneth Paltrow’s Goop rebuilt its reputation after crisis

Founded by actress Gwyneth Paltrow in 2008, wellness and lifestyle brand Goop has been hit by its fair share of criticism over the years. From allegations of privilege to pseudoscientific language, debate over the brand’s product claims has been more or less non-stop;...