3 Marketing Facts After Covid-19 – The pandemic changed a lot in the consumer behavior. It also affected the way businesses operate in addition to the marketing approach of those businesses. The following are 3 facts that emerged after Codvid-19.
Fact 1
Around 45% of online content goes unseen and this is a big improvement compared to last year when the figure was 69% (Source: Contentsquare)
Although it’s getting better, but companies cannot and should not afford the risk of having “unseen content”. Budget for paid advertising on Social Media or other digital advertising channels should be taken into consideration with the same importance as production and content creation, since we have seen this a lot in Lebanon; businesses create content but never put the right effort or budget to spread it properly and remains unseen.
Fact 2
72% of consumers have changed stores, brands or the way they shop since the corona pandemic started, with 84% of those who tried a new brand planning to stick with it. (Source: McKinsey) That’s a pretty valid invitation for all businesses to re-think their marketing, specially in Lebanon.
Fact 3
Consumer spending is expected to be highest in travel (55%), dining (53%) and beauty and personal care (38%) when restrictions are lifted. (Source: McKinsey)
Lebanon unfortunately has obstacles in the tourism industry in both ways: the first in strengthening tourism and promoting Lebanon as a destination in the GCC (given the fact that we are not able to do that because of the current political situation and relationship with our Arabic Neighbors). This first point is very complicated and I will tackle it in more details in another blog.
The second point is, the purchasing power of the Lebanese consumer. It decreased drastically after our economic crisis. The internal tourism might take a very long time to recover. And Lebanese traveling abroad for vacation will witness a big decrease. So how should travel businesses in Lebanon react?
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