Trend Hunter covers the challenges of Marketing in Times of Chaos in one of the platform's Innovation eLearning YouTube series. This four-part module dives into Co-Branded Creation, Instant Gratification, and Corporate Social Responsibility.
The video begins by outlining the Chaos-Induced Recharting framework, which helps lay out a framework for consumers and businesses to proceed through times of chaos, such as the CoVID-19 pandemic, and end up with a forward-facing charted path. In this module, misinformation during the CoVID-19 pandemic is cited as one key aspect that prolongs the chaos phase of the recharting framework, noting that 10% of adults knowingly share misinformation and 40% share misinformation that they later find out to be false.
The module then dives into Co-Branded Creation and Instant Gratification, noting that brands are faced with reduced budgets and increased difficulty in marketing. These brands turn to UGC, or User-Generated Content, which is shown to be trusted by 92% of consumers, leading to increased perceived authenticity, and increased profits over time. Instant Gratification, on the other hand, is effective during times of chaos. The video cites examples such as TikTok marketing and personable social media campaigns.
For more information on Marketing in Times of Chaos, check out Trend Hunter's Free 2023 Trend Report.
Marketing in Chaos
Trend Hunter Dives Into Marketing in Times of Chaos In Innovation eLearning
Trend Themes
1. Corporate Social Responsibility - The chaos induced by recent events presents an opportunity for businesses to prioritize corporate social responsibility, and leverage it as an effective marketing tool.
2. User-generated Content - As brands are faced with reduced budgets, they are turning to User-Generated Content as a way to increase authenticity, and ultimately, profitability.
3. Instant Gratification Marketing - During times of chaos, personable social media campaigns and other forms of Instant Gratification Marketing have proven effective in engaging with consumers.
Industry Implications
1. Marketing and Advertising - Marketing and advertising firms can help businesses prioritize Corporate Social Responsibility in order to effectively appeal to consumers during times of chaos.
2. Social Media - Social media companies have an opportunity to create tools and services to help businesses implement Instant Gratification Marketing campaigns, and leverage User-Generated Content more effectively.
3. Media and Publishing - Media and Publishing companies can partner with other businesses to create Co-Branded Content, which can help maintain authentic messages while reducing marketing costs.