Data Proves Key To Marketers For Managing Change & Disruption

Data Proves Key To Marketers For Managing Change & Disruption
SHARE
THIS



In this guest post, Gumtree’s account manager Daniel Kuziow (main photo) says as CV-19 sends more shoppers online, data has never been more important for marketers to target them…

Thanks to COVID-19, former buzzwords such as “ideate”, “pivot” and “agile” have become the new reality for all marketers. To help a business persevere and maintain its competitive edge during a crisis, marketers need to understand the importance of agility and adaptability. This enables brands to keep up with the speed of behaviour change, especially around digitisation.

The current environment has also brought about a need for agile decision-making in marketing, as consumers are shifting priorities and changing their behaviours at a never before seen speed.

Some brands have managed to separate themselves from the pack by being purposeful and leveraging insights combined with intelligence to create new forms of value for customers. Other brands should be taking notes — learning how to address the new wants and needs of customers during times of change — or, otherwise, risk being left out of the race. The big lesson from COVID-19 is that brands should leverage their data accessed through digital platforms to design an updated, more flexible marketing approach.

The power of data

New research from Gartner revealed that nearly 30 per cent of marketing leaders believe lack of agility and flexibility negatively impacted marketing execution during the COVID-19 pandemic. The same report shows that data provides a solution to being agile amid disruption.

In fact, a key marketing lesson from the current crisis is that during times of disruption and unprecedented change, marketing leaders should look to data and analytics to offer insight. This also helps avoid making errors in decision-making and adapt strategies to current demands.

A good example of the power of leveraging customer insights is Commonwealth Bank of Australia (CBA)’s response to customers during COVID-19. According to this April’s Ray Morgan Risk Monitor, at the height of COVID-19, CBA became one of Australia’s top-10 most trusted brands for the first time since the Financial Services Royal Commission. This was directly linked to the bank’s COVID-19 response, which saw CBA reply to customer demands and offer loan payment relief immediately.

Data – in combination with the accelerating velocity of technology – can create opportunities for brands to quickly and successfully adapt their messaging or target messages in the right place. Looking for specific audience intentions can be a simple way to utilise data to re-target. Gumtree’s Audience Insights Report* looked at 12 audience segments found on Gumtree, from Empty Nesters to Young Adults as well as Auto Intenders to uncover and analyse audience intentions further than browsing behaviour already made available to advertisers by the marketplace. The report revealed that many of its car intenders, for example, are also looking for new financial services at this time – an opportune time for financial services to be front and centre with Gumtree’s car intenders.

Real-time data changes the game

Being agile typically requires marketers to shift from conventional approaches of generating marketing content to new, tech-enabled offers. However, that’s easier said than done.

Among marketing’s greatest challenges, is the inability to foresee how customers wants, needs, expectations and purchasing decisions will continue to evolve. It’s also the inability to access data needed to make informed decisions, at speed. As a result, marketers should be prioritising spending their marketing dollars where they can get the insights they need to remain agile and relevant. First-party real time data has become an incredibly powerful tool to make that happen.

At Gumtree, for example, we have first-party data on shopping behaviours, which is based on real Gumtree users browsing, and shopping activity. Every visit, every purchase, every category searched and every advert engaged with results in insights for our partners. During COVID-19, for example, Gumtree data revealed that 77 per cent of platform users were intending to use the COVID-19 down-time to renovate or update their home or garden. Gumtree also recorded a 168 per cent increase in search for fitness equipment. Having those kinds of insights available will enable brands to plan targeted, more effective advertising strategies.

Ecommerce and entertainment leading the way

New figures from US based Advertiser Perceptions reported 49 per cent of advertisers have been taking their cues from ever-changing consumer behaviours and modifying their marketing strategy and spending to engage consumers where it matters most – online entertainment and ecommerce. In fact, 33 per cent of respondents have moved dollars to ecommerce.

Gumtree’s Audience Insights Report found that 32 per cent of its audience consisted of families with young children living at home and during COVID-19 lockdown, the brand saw a spike in search for at-home items. It’s this sort of real-time data that can help advertisers target online intenders quickly to capture attention during the search and browse journey.

Furthermore, Gumtree’s Audience Insights report also uncovered that 42 per cent of Gumtree users intended to improve their home in 2020 and during COVID-19 we saw home and garden category spike by 37% during 14 April – 4 May. Another opportune moment for real-time advertising.

The next three to six months will undoubtedly bring many more societal changes that trickle down to the marketing funnel. In today’s environment, it’s more important than ever to make decisions that are grounded in facts. Effective and swift use of data and analytics can help marketers stay anchored to their customers’ changing reality and ensure marketing strategies are timely and successful.

Please login with linkedin to comment

Daniel Kuziow Gumtree

Latest News

Grill’d Sticks It To Fast Food Giants In New “Trump’d” Campaign
  • Campaigns

Grill’d Sticks It To Fast Food Giants In New “Trump’d” Campaign

Grill’d has launched a new tactical campaign ahead of the upcoming US elections, with the aim of comparing big American fast food giants with Grill’d’s home-grown, healthier approach to burgers. The tongue-in-cheek campaign depicts Donald Trump’s addiction to fast food options, such as McDonald’s, KFC, Burger King and Dominos, with the words ‘You are what […]

Debunking The Myths: The Environmental Cred Of Print Media
  • Opinion

Debunking The Myths: The Environmental Cred Of Print Media

In this guest post, Dr Phillip Lawrence of Edith Cowan University debunks the myths of the environmental impact of printing… The environmental credentials of printing have been in the spotlight for a while with brands and marketers as well as large corporates regularly proposing they would reduce or eliminate paper and printing from their business as […]

Opinion

by B&T Magazine

B&T Magazine
Mindshare Snares Kayo’s & Binge’s Media
  • Media

Mindshare Snares Kayo’s & Binge’s Media

The WPP-owned agency Mindshare has revealed it has won the media business for both Kayo and Binge. Both Kayo and Binge form part of Foxtel’s Steamotion’s streaming services and have seen significant boosts to the subscription numbers in recent times, primarily during lockdown. Commenting on the win, Mindshare CEO Katie Rigg-Smith said the win would […]

by B&T Magazine

B&T Magazine
Aussie Tech Firm Launches App To Help Media Owners Find Local Advertisers In Any Location
  • Media

Aussie Tech Firm Launches App To Help Media Owners Find Local Advertisers In Any Location

Realworld, an Australian location-based technology company, today launched adfindr.co, a leads platform for media owners. Adfindr finds the contact details of hundreds of local businesses around any location. Adfindr offers all media owners a database of local advertising leads. Simply type in a location and extract advertising leads in that area. David Sanderson, Director at […]

Time To Fill? Then It’s Time To Will With State Trustees Via Hardhat
  • Campaigns

Time To Fill? Then It’s Time To Will With State Trustees Via Hardhat

The new Online Will from State Trustees has launched with an unexpected campaign via newly appointed creative agency Hardhat, one that aims to turn in between moments into opportunities for action. Having a baby, moving house or exploring some thrilling new hobbies – this colourful, tongue-in-cheek campaign leverages the types of life stages that trigger […]

Imagine Room Revolutionises Immersive Content With Australia’s First Microsoft Mixed Reality Capture Studio
  • Advertising

Imagine Room Revolutionises Immersive Content With Australia’s First Microsoft Mixed Reality Capture Studio

Immersive media company Imagine Room has signed an exclusive agreement with Microsoft to build and operate Australia’s first Mixed Reality Capture Studio to drive the next generation of content production. The state-of-the-art studio uses 106 cameras to create holographic and 3D-video performance assets and create immersive and interactive experiences for virtual reality (VR), augmented reality […]