Why and How Modern Marketers Will Thrive During This Disruption

No one was truly ready for the COVID-19 pandemic and the subsequent economic downturn it has caused. Millions of workers are now collecting unemployment compensation. Many companies have permanently closed offices and stores. Millions of other workers have taken pay cuts and are working from their homes. Professional baseball’s “live” audiences are made from cardboard, concerts are being attended via computers or smartphones, and pants are optional at business meetings.

As with most other economic crises, all is not doom and gloom. Did you know that HP, Hyatt Hotels, Microsoft, Electronic Arts, Mailchimp, and Uber were all started during recessions? Crisis often forces us to seek solutions that lead to innovation and personal and business growth. The Financial Times recently released a list of the top 100 businesses that are prospering during the COVID-19 recession ($). Many were in the right place at the right time, while other businesses adapted to the new reality.

Sixteen of the top 17 companies on the Financial Times list are digital-based, including Amazon (1), Microsoft (2), Facebook (6), Nvidia (7), Netflix (12), and Zoom Video (15). Seventy-five million people used Microsoft Teams in a single day in April, and Zoom Video calls reached 300 million participants in a single day of the same month. Apple was on the list (3), even though it closed all of its retail outlets. Facebook has realized a 39% increase in advertising impressions because of the intensified use of the platform by entertainment-starved users.

Opportunities Abound

The heightened use of internet searches, social media, e-commerce, digital entertainment, and virtual events by consumers presents fantastic opportunities for marketing professionals. The current crisis has accelerated the use of digital media, and the accelerated growth will last long after a vaccine is developed for the SARS-CoV-2 virus and the economy rebounds. The pandemic has also forced companies to create new processes, products, services, and marketing techniques, helping them grow during these troubled times. This has placed an even higher value on people who understand the changing aspects of organizational growth.

As the economy reboots, organizations will need marketing professionals who understand the dynamics of growth, the value of digital media, the intricacy of data interpretation, and the importance of customer focus. In fact, many organizations are currently looking for people with these skills.

Marketing is all about growth, the use of new and traditional media, customer service, measurement, and evaluation. If you studied marketing or have worked as a marketer, you already have the basic skills to help you prosper during and after this crisis. This is an ideal time to enhance your skillset to match the needs of a post-COVID-19 corporate world.

Going Beyond the Basics

Thirty years ago, a marketing executive had relatively few customer communication outlets to learn. Their knowledge of business operations was limited, for the most part, to the marketing department. The more you learned about the basics of advertising and marketing media, the more valuable you were to the organization. There was little interaction with the sales department beyond providing brochures. At the time, the marketing department was considered a necessary expense.

Today, success as a marketer requires going beyond the basics. You must learn about hundreds of media communication vehicles; know how to integrate with all the corporate departments, especially sales; be able to read and analyze reams of data; have a working knowledge of technological advancements; and be a constant contributor to the growth of the company. The modern marketing function is becoming a profit and growth center.

Some companies have already added a chief growth officer position to the c-suite, and as companies recover from the results of the pandemic, others will realize the need to have a growth marketing function. Will you be ready when the future becomes the present? The following are a few suggestions to help you.

Develop a Growth Mindset

A person with a growth mindset has a desire to learn; they embrace change and are willing to work hard to achieve positive outcomes persistently. Having a growth mindset will prepare you for the hard work of becoming a modern marketer.

Become a Modern Marketer

Don’t just rely on traditional marketing techniques, embrace and learn new technologies and processes, and build your digital playbook. You should learn about the many exciting innovations that have been accelerated by the COVID-19 pandemic.

For instance, as many live events were canceled, organizations have learned to rely on streaming technologies to relay their messages. When face-to-face events return, the industry expectation is that many will incorporate a virtual event component.

The pandemic has caused a sharp increase in social media usage as consumers seek entertainment, news, and personal messaging. Advertising and messaging opportunities abound, but competition for the users’ attention has increased as well.

Streaming media was popular before the pandemic; now, it is essential and will continue to increase in necessity as new platforms, such as Disney, CBS, and Apple, join industry leaders Netflix, Hulu, and Youtube. This increased use is making the idea of Over the Top (OTT) advertising an important part of a brand’s performance and growth. These are just a few of the changes we are experiencing that a modern marketer must understand.

Marketing professionals often look at data and groan, which is understandable because most are more creative than analytical. If you become a modern marketer, you will need to get over your aversion to data. Growth marketing is fueled by data. Every program, regardless of the department, should be measured to determine its effectiveness, ROI, and impact on the customer. The modern growth marketer must be able to collect, evaluate, and report the information the data reveals accurately.

Find Mentors

There’s no doubt that the world of marketing has become incredibly complicated. Most likely, you will not become an expert in all aspects of modern marketing, but it doesn’t mean you won’t have access to information that will help you develop and implement effective strategies. Build alliances within your organization with your staff or other employees, with trusted vendors, and with industry peers. They will become your modern marketing encyclopedia.

Most importantly, find mentors you trust to share ideas, to seek opinions, and to help motivate you. The road to growth does not have to be walked alone.

“A ‘genius’ is often merely a talented person who has done all of his or her homework.” — Thomas Edison

* * *

Allen Yesilevich | VP, Head of Marketing & Growth @ MC²

I lead the marketing, digital transformation, demand generation and growth efforts at MC², an award-winning globally-recognized brand experience solutions agency. I also write for Forbes. Connect with me on LinkedIn and Follow me on Twitter for my thoughts on experiential and growth strategies.