|Fast Moving Consumer Goods, Trends
The Cimigo Planning for the Bounce Back webinar presentation addresses marketing planning for the bounceback.
We all look forward to the bounce, those whom will benefit the most will be well prepared, they will have adjusted their marketing plans and media mix.
There will be no revenge spending spree, as a new normal appears it will be most marked by a very thrifty consumer.
Make sure you have a portfolio which includes; value propositions and brands have small pack sizes to enable lower cash outlay. Start designing promotions that enhance your customers’ experience and your share of their basket. Consider innovations that reward and indulge consumers.
Brands should say less and do more during the lockdown. Communications going forward should focus on comforting, entertaining, uplifting and inspiring consumers.
The bounce back will be a marathon, not a sprint. During normal times we expect marketing budget allocations at; brand building 60% | sales activation is 40%. These should be turned on their head, with sales activation taking 90% during the lockdowns, gradually decreasing through various stages of the bounce back to return to 40% only after 12 months.
A new normal will have already evolved with new habits and rituals in everyday life and no doubt for your brand and category. Some of the temporary consumer behaviour changes forced upon us by the pandemic, will be permanently game-changing. We will all have found new ways of working, socialising, entertaining, shopping, minimising travel costs, being thrifty, staying fit and eating well.
This new normal will need to be understood, your commercial plans (brand, innovation, marketing, channel and sales) will need to evolve, opportunities leveraged and risks reduced. Get in touch to discuss how to get your commercial plans prepared so that you are ready for the bounce back.