How can marketers and businessleaders respond tactically to ensure a quick recovery after the pandemic and use available data from search engines?

At a Glance

• Copious data from search engines and ad platforms can help marketers navigate a wise course during and after the pandemic.

• Google Trends data showing demand for product categories in countries where the coronavirus has already peaked will predict demand shifts in other countries over the coming weeks.

• Lower digital advertising costs allow marketers to recalibrate ad investment in order to accelerate sales after the crisis abates.

• When marketing teams come up for air, they should analyze demand data from the previous financial crisis to broaden insights about their current audience.

Next responses

• Harvest data now to relaunch your marketing plan later in 2020 - Broaden insights about current and potential customers, possibly through a third-party panel or media partner. Match your CRM or internal audience data to track changes in customer behavior over the previous month.

• Assign a small team to analyze shifts in conversion and engagement rates over the past four to six weeks.

• Put your owned assets in order by asking a few questions.

• Fix the plumbing. In the course of day-to-day business, the rigor of certain marketing operations often slips. Now is the time to tighten standards again. Standardize campaign naming for ease of reporting and interpretation of results;

Ample Data, Often Free, Can Predict Consumer Behavior Through the Covid-19 Crisis

Publicly available tools help companies spot patterns in one country or region that will likely repeat elsewhere.

Bain&Company article from John Grudnowski, Blake Cuthbert and Justin Halim, April 09, 2020

Responses

• Use Google Trends as a leading indicator - Google Trends data serves as a fairly reliable predictor of consumer demand next week or month

• Take advantage of lower digital ad costs - In the past two weeks, the combination of lower investment from advertisers and increased media consumption has led to a dramatic decline in cost per thousand impressions (CPM). Companies whose products are in higher demand can achieve tremendous reach connecting consumers to those products. Brands in industries that have suffered a falloff in demand can provide valuable customer communications or support the community through fundraising and awareness.