Covid-19 and marketing From Deloitte Consulting

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Deloitte has released its latest CMO report, “covid-19 and marketing.”. There is ample evidence novel coronavirus pneumonia has changed the behavior of customers.
There is no doubt that for almost all respondents (97%), the most obvious change is the decrease in face-to-face marketing participation, whether in sales, shop visits or trade fairs.
With less face-to-face participation, 85% of CMOS are more open to new digital products launched during the pandemic; 84% of CMOS witness an increase in the value of digital experiences.
In the past, American consumers trusted companies that valued social responsibility, not just profits. As a result, 8 / 10 of CMOS (79%) have more recognition of the company’s attempt to do good. Moreover, although B2B companies have been working together to target as part of the company wide initiative, B2C companies are more likely than B2B companies to experience changes in customer behavior.
About two thirds of respondents (65%) reported that their products and services attracted new customers. CMO also notes that consumers are less likely to buy (67%) and are reluctant to pay the full price (43%).
To a lesser extent, CMO also mentioned low loyalty (25%), low possibility of online purchase (24%), and weak concerns about privacy (24%).
CMO is optimistic that several changes in consumer behavior seen during the pandemic will return to normal within 6-12 months. In fact, the largest proportion of respondents believed that behaviors such as unwillingness to pay in full (38.5%), low likelihood of purchase (37.7%) and low loyalty (36.4%) would return to pre pandemic levels during this period, rather than six months or a year later.
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