How can marketers keep up with the pace of change and where are the Innovations?
Insight 1: Keeping Pace with the Business Opportunities Presented by the 'New Norm' is a Challenge
Insight 2: Speed to Market and Agility is the Mantra of the Industry; Adaptive and Flexible Wins
Insight 3: Understanding the Business' Value Proposition and Developing a Distinctive Voice is Imperative
Insight 4: Innovative Content in the Digital World; Cutting through 'Fatigue'
Insight 5: Incentivising Audiences in the Virtual Event World is Key to Increased Audience Engagement
Since May 2020 has your product or service become relevant for new audiences as a result of Covid-19?
When asked whether the business' products/services had become relevant to new audiences post-Covid, a significant 85% of Barometer respondents said 'Yes', a heartening response in volatile times with the opening up of new buyer groups both within existing accounts and net new accounts in a variety of sectors. However, in an environment which is extremely time-pressed where firms have been significantly affected by global market changes, and are trying to keep business forging ahead, this need to accelerate into new markets can prove to be tricky. Marketers are struggling to make sure their content is heard in the virtual world amidst the 'noise' from competitors in the market who are targeting similar audiences. The pressure for greater creativity, and to develop purposeful and relevant content to retain a share-of-voice and seize the opportunity is felt by all.
To capitalise on the new business opportunities that present themselves firms need to be agile. Marketers are struggling to keep up with the volume of content required to engage new audiences. It is time-intensive to both re-work large volumes of existing content and produce new content assets to engage these new buyer groups in a timely fashion, more so in a crowded space where everyone is producing content and the digital medium is the only way to distribute (digital fatigue). Sales teams also have an uphill battle in targeting these new prospects as 'traditional' means of nurturing relationships are limited. Social selling is becoming an increasingly more important tool in engaging and reaching out to these new prospects.
Back in May 2020, after the first edition of the Barometer, it was evident that many firms had taken a knee jerk reaction and were employing short term reactive measures to weather the storm. Now in August, as the dust settles and the industry has a better picture of the 'New Norm' it is vital that businesses take back control and place a firm grip back on the business by taking a more strategic approach, clearly understanding their own value proposition, and what they have to offer to their clients.
In a crowded market, and with the volume of content being created and distributed, it is vital to generate a distinctive voice. EI has been helping several clients cut through the noise and identify 'white space' for their content, particularly around popular themes such as Future of Work, D&I, Responsible Business and Supply Chain, which are trending in the current global backdrop. Our analysis has helped clients understand the pain points of their audiences and help develop content that underpins their value proposition.
In an age where there is a real risk of content saturation, marketers are having to stay on the front foot and think creatively about the content they push out, whilst also being empathetic to the hardships that their clients are facing post-Covid. In this turbulent time, authentic messaging and tone continue to be key to engaging clients. In a digital world, snackable and punchy content delivers results and the power of video increases. The use of podcasts and webinars is also on the rise and EI is seeing media suppliers offer more variety in these formats for businesses to leverage as part of their marketing strategies.
Case Study: ISMG Podcast Interviews + PDF eBook Transcripts
ISMG offer podcast creation generated from webinar recordings. These consist of recorded or filmed 10 - 15-minute discussions between a senior representative of the sponsor and an ISMG editor. These podcasts can also be used as a client case study. For each of the podcasts, ISMG will also create and promote PDF eBook transcripts of the discussion. The sponsor retains rights to all assets created.
Interactive, Video and Visual Content gaining dominance in a post Covid world. With many of EI's clients focused on 'the right content, in the right way, at the right time' and a better digital content strategy to keep audiences engaged in a difficult climate, EI's research in the market suggests that visual content makes it more memorable; re-purposing existing content into interactive infographics not only makes it accessible but optimises budgets, and video assets can be used to both humanise the brand and improve communication retention.
With events now operating in the virtual world, and virtual 'fatigue' setting in, event providers are working hard to offer innovative ways to keep audiences engaged. EI has been interrogating suppliers to demonstrate what the “hook” is for the audience. It is no longer just about content and speakers; how are they driving interest and attendees to YOUR session. What is the USP of the event in such a saturated market?
Increasing the human touch in a virtual setting is really important; marketers can bridge the gap through mail-outs and physical collateral such as tasting boxes, or brochures with content. Understanding the audience motivation is crucial with networking sessions; the wheel does not have to be reinvented, it can be as simple as having the right speaker or content, or sending prizes to people who participated. Creative flair and fun is encouraged with ideas such as whisky tastings, live fitness sessions and competitions.
Case Study: Collision from Home EI was impressed with Collision's pivot to virtual, who innovated by capitalising on the use of their bespoke event app to create a seamless and interactive experience, particularly in relation to networking.
Live polling is not only a great way to increase active participation, it can also be leveraged to generate content to re-engage attendees post-event through surveys and reports. One example would be TXF's report generated from the TXF Global 2020 Export Finance virtual event, where attendees were polled across the sessions and exhibition hall and the findings were published, with access for attendees and non-attendees.
Case Study: Quartz Giveaways for Zoom 1:1 Meetings
Quartz facilitated 3,008 qualified Zoom meetings at their IMPACT Virtual Summit, for 62 exhibitors in a week with an average meeting time of 26 minutes. This was done through innovating and incentivising the audience with Apple Watches and iPad giveaways in return for attending all their meetings.
