Covid-19 has changed the digital and economic landscape at remarkable speed, and marketers are feeling it. To succeed, we’ve had to tighten our budgets, pivot our marketing strategies and shift our priorities, sometimes at a moment’s notice. However, when it comes to mapping out potential budgets cuts there’s one thing that should never be cut from your marketing strategies, and that is content marketing. The idiom “content is king” still rings true even during this Global pandemic. Not only does it increase brand awareness, instil consumer trust and build brand loyalty, but content marketing also has the potential to pay back your initial investment many times over. Join Wordsmith as we examine 5 reasons why content marketing is the smartest business investment you can make right now.
1. The absence of trade shows and conferences has led to virtual events and the need for solid content marketing
Depending on the sector, some companies allocate 30-40% of their marketing budget to trade show sponsorships, travel expenses, attendance and marketing collateral for these key events. However, since the global pandemic has led to cancellations of nearly all in-person events, marketers have been faced with the challenge of where to redistribute that budget quickly. The most successful brands during the pandemic have recognised that content marketing is the most logical place to reallocate event marketing and media budgets. With large events being put on hold for the foreseeable future, many brands are taking a “wait-and-see-approach”, and are effectively redirecting their marketing spend towards content that’s specifically designed to build key relationships and nurture leads online. Once the economic landscape shifts in a more positive direction, your business will be ready to hit the ground running thanks to you taking the time to nurture your existing relationships with subscriber content and building trust with your new target audiences through content marketing.
One key way brands are substituting face-to-face interactions is through creating virtual events. For virtual trade shows, exhibitions, international conferences and presentations to be successful, they require a strong foundation of written content, extensive research and interactive video snippets. Luckily, if you already have a solid content strategy in place, your high-performing blog posts and social media content can be easily adapted to credible, storytelling slides for your virtual events.
Using the internet as a strategic resource can help your brand pivot and adapt to this “new normal”. Sanja Komljenovic, CEO and Founder of ONA Creative, explains, “DJs are throwing virtual parties. Yoga instructors are teaching on Zoom. Chefs are cooking up a storm on IG Live…so likewise, brands have a wealth of resources and opportunities to connect with their communities.” From live online workshops and on-demand content to educational webinars and exclusive virtual reality experiences, there is excellent scope to share your content in new and exciting ways. Marketers should see virtual events as a unique opportunity to effectively boost their existing digital marketing efforts, instead of just another unnecessary hassle caused by the lockdown.
2. Screen time has dramatically increased, creating more opportunities for engagement through content
It comes as no real surprise that screen usage has exploded during the Coronavirus pandemic. Forbes explains, “As millions of people go online for entertainment and more, total internet hits have surged by between 50% and 70%, according to preliminary statistics”. A New York Times study also concurs claiming that the “coronavirus has changed the way we internet.” So, as many of us sit in isolation, our screen time has never been higher and our need for quality content has never been greater. Not only has consumer spending online drastically increased, but consumers are also staying active online for longer – in fact, an eMarketer survey indicates that 32% of respondents are now spending longer amounts of time on social media.
As a result of this acceleration in internet consumption, marketers shouldn’t cut the content they’re producing, they should double down on it to create powerful online connections with their audiences. Nurturing ongoing conversations through content marketing is key. Some of your consumers may be struggling in precarious financial situations during the pandemic or juggling multiple responsibilities when it comes to managing their businesses, so keeping your lines of communication open and producing content that’s designed to entertain, inspire, educate, and inform will all help to humanise your brand and build trust with your intended audience. If these long periods of quarantine have taught us anything, it’s that online conversations can be just as meaningful as face-to-face interactions. Marketers take note.
3. Brands are allocating budgets to social media and web content at the expense of advertising
With brands across the world tightening their budgets amidst economic uncertainty, ad investment has seen a drastic drop since the pandemic started and projections show that this is likely to continue through 2021. Studies from the Interactive Advertising Bureau note that "almost a quarter (24%) of media buyers, planners and brands have paused spending until the end of Q2.” At the same time, the WARC State of the Industry 2020/2021 report estimates that global ad spend is set to decline by 11% to US$552.3 billion this year. So where are marketers spending their limited budgets? Bolstering their online real estate and strengthening their social media strategies.
By simply refreshing your brand’s homepage, your Frequently Asked Questions (FAQ) page and having an active presence across your social media channels, you can encourage consumer interaction while also increasing the amount of time your target audience browses your site. Creating fresh, SEO-friendly content on your homepage and social media channels that not only includes relevant, timely information but also effectively answers your consumer’s problems can go a long way towards fostering trust during these unprecedented times. It’s understandable that when consumers aren’t able to browse brick-and-mortar stores to test out your products, that they need more information in order to effectively build trust with your brand, and this starts with a solid content marketing strategy to show you are present and responsive to the needs of your consumers.
4. The decline of celebrity endorsement and the rise of micro-influencers
A Social Media Trends Report from Socialbakers indicates that the most successful influencers were those who were “more likely to be authentic, natural types that posted more relatable content which emphasised real-world human situations over aspirational and manicured posts.” The report continues to highlight an emerging trend of micro-influencers gaining popularity at the expense of mega-influencers and celebrities. Due to this, 77% of marketers say they’re now looking to collaborate with micro-influencers. But why now?
User-Generated Content (UGC) that comes from micro-influencers has become a lifeline for successful brands during the pandemic. This is because it doesn’t require an expensive in-person photoshoot production. It allows the influencer to create inspired UGC content for commercials, viral videos and digital ad campaigns all while honouring social distancing protocols. And not only that, but it’s also a great tactic to instil consumer trust. A shocking 92% of consumers trust organic, UGC more than they trust traditional advertising. Micro-influencers who promote product-led content in a down-to-earth, relatable way are more likely to lower consumers’ anti-marketing defences and pull at audiences’ heartstrings harder than any other form of content – especially during these emotionally-charged times. You’ll soon see that marketers are no longer hesitant to reallocate their marketing spend and invest in dedicated UGC programmes to create a lasting impact with their target audiences.
5. Increasing consumer demand for “escapist content”
Our increased appetite for escapism during times of difficulty is nothing new. You only have to look at the top-grossing box-office hits during the last major recessions to see our hunger for content that takes us away from our everyday troubles. This is evident from the intergalactic battles of Star Wars during slow economic times in the late 1970s and early 80s to the magical wizardry of Harry Potter during the Great Recession in 2009. As we continue to face this global pandemic and a possible looming recession, we’re likely going to see a continuing upsurge in the demand for fanciful entertainment. When times are hard, people want to unplug, disconnect and be entertained.
A classic case in point was the Christmas release of Disney/Pixar’s movie, Soul. Instead of releasing it in theatres across the world as it was originally planned, pre-pandemic, Disney decided to release the movie solely on Disney+, and it still broke box office records. Soul managed a box office gross of US$55.8 million in China alone, making it the second-highest-grossing Pixar film of all time in China – just before the country celebrated Lunar New Year. So, it’s clear to see escapist content sells. We’re not suggesting that all brands need to start producing films, but as marketers, it’s essential to think outside the box and spot opportunities to create a few moments of relief during these troubling times. We firmly believe in the power of empathetic marketing to win over customers hearts and minds, and that professional copywriters can help create strong emotional ties to your brand.
Content marketing is one of the smartest business investments you can make right now, and it’s one of the most cost-effective ways to keep in touch with consumers and increase lead generation during the pandemic. Having proper content marketing strategies in place can help you effectively build consumer trust, increase brand awareness and instil consumer loyalty. The timeless nature of well-produced content increases your return on investment while improving brand perception, making it both an efficient and effective marketing channel during these turbulent times.