It has become clear that Coronavirus will continue to deliver lasting impacts across every digital marketing channel, which is why it is now more important than ever for you to dial in your Analytics strategy.
During times of uncertainty, smart marketers understand that attention to detail and careful adjustments to process are required to track and interpret rapid shifts in data — from geographical trends to auction insights and more.
Here are 10 helpful Analytics strategies to help you stay on top of unpredictable performance trends as you navigate the impacts of Coronavirus.
Understand the COVID-19 Impact on Your Business
Long-term vs. Short-term Expectations
COVID-19 will have a material impact on business performance for many industry verticals.
However, it’s not safe to assume that the impact on all brands will be negative. Some brands have already started to see a net positive impact on performance in the wake of changing consumer behaviors relative to this pandemic.
There’s no way of telling what long term effects will look like because there is still too much uncertainty and too many variables to predict how brands will weather the storm successfully.
What We Know
One only needs to scroll through their social media feeds or tune into NPR to note that consumer behaviors have shifted as people prepare for and adapt to life during a pandemic outbreak. Many business models have shifted to adapt to changing needs fundamentally.
Fine dining establishments have become takeout and delivery only; distilleries have begun to produce hand sanitizer instead of spirits, and manufacturers are now producing masks instead of apparel.
And as the business models shift, the marketing strategy must change as well to keep consumers apprised of how brands are meeting market demands.
10 Helpful Analytics Strategies to Pivot Your Marketing During Coronavirus
1. Keep an Eye on Geographic Trends
As various measures fall into place domestically and globally, there will be varying needs that brands be proactively responsive toward. In geographic areas where the virus is just starting to emerge, media performance may look very different than in areas where the virus has already spread dramatically. Evaluating media data by region will expose opportunities to optimize investments relative to where a particular target market may be on the pandemic timeline.
2. Track Physical Store vs. E-Commerce Performance