Amidst the Coronavirus pandemic, a new wave of internet use is upon us. Everyone from office managers to yoga instructors are turning to teleconferencing platforms and social media apps to keep business going. As people shelter in place, consumers are using the internet to socialize and spreading their purchasing power to the brands they trust.
Online social gatherings have become a lifeline for both brands and consumers. And as market trends are changing daily, brands are in a critical position to observe the trends and adjust as the market spirals along.
Consumers Crave Connections
Being able to connect with friends, support groups and colleagues while maintaining social distance is a hurdle that the public has been swift to clear.
With stay at home orders becoming the norm, people are responding by connecting online in a way we’ve not seen in our lifetime. Everything from purchasing trends to dating is rapidly changing. And no one was taking big bets on the toilet paper industry being a top topic of conversation back in January.
Telecommuting is an archaic internet buzzword, but now everyone is having to figure it out on the fly. For many, what was once a dream has become a reality thrust upon them in dire times. Humans are a social species after all, and we will find a way to connect with others.
Time to Rediscover Online Potential
To date, a little over 6 million workers have filed for unemployment. Many others are working out a work/life balance with children that can’t go to school. In just a few weeks’ time, societies’ need to transition online has changed the market landscape drastically. All of those people are getting online to shop, engage with others and simply pass the time.
Brands that are intently listening to the social conversation online are the ones in the best position to make the rapid-fire decisions needed to be on the forefront and make those connections.
For instance, many face unique circumstances such as those struggling with drug and alcohol addiction. For them A.A. meetings are literally their lifeline to sobriety. Online meetings are filling in the gap in the era of social distancing to help those for whom community is the key in their battle against substance abuse. This was almost inconceivable a few months ago, but those connections must be maintained.
It’s no wonder that Zoom meetings have become the go-to to keep people engaged, and its stock price is reflecting that reality.
Schools and universities are using it to create virtual classrooms. Theatre groups, bands, and artists are using the platform to connect and produce content in an effort to stay connected with their audience. Most of the consumers are staying put in the midst of Covid-19, yet the show must go on.
Creating Virtual Lives
Consumers and brands are pivoting in the face of the Coronavirus and turning to apps and social media platforms in new ways to connect with the world around them. Not only that, gaming services are also seeing an uptick in usage as people seek out virtual worlds to connect with others. Minecraft and Fortnight are being picked up by adults in order to connect with family members. Gaming related services such as Discord and Second Life are seeing an increase in use as well. In other words, people are using technology in a lot of different ways to reach out and maintain relationships!
The interconnectedness that the internet offers has proved critical during this time. As people and brands innovate, it gets talked about. Quid’s language analysis software turns the global conversation into actionable context that allows you to stay in front of the trends and meet your demographic at the point of need.
Brands Desperately Seeking Relevance
Market relevancy has been flipped on its head as people scramble for a new sense of normal during the Coronavirus pandemic which has left many brands struggling for relevancy. With staggering amounts of the workforce unemployed, and many others transitioning into a virtual workplace, brands are on the move to transform themselves to keep up with rapid market changes.
Recently, as the market has changed so fast – for many businesses it’s not just staying ahead of the curve, its figuring out how to stay relevant as the world moves online. And for others, it’s a matter of staying in business at all.
Small businesses are getting in on the action quickly. They have had to adapt quickly in order to not only remain relevant, but to feed their families. That means brands are having to adapt quickly to engage with their customers in creative ways.
Keep in mind that Zoom was a minor player just a few months back that a lot of people hadn’t even heard of. Now… everybody’s using it. It’s having to hustle to upgrade its security standards in the face of increased public scrutiny. But even as its stock is taking a minor dip because of it, it’s paying attention and responding in a positive manner. That’s relevancy.
With Quid’s powerful text analysis software at their disposal, brands have highly customizable data visualization that shows them precisely what is being talked about online regarding their field or industry. The ability to monitor the ebb and flow of the global conversation and detect emerging trends gives industry leaders the market intelligence they need to make valuable course corrections or roll out new offerings in an unstable marketplace. And it also helps to keep folks moving forward in the love department too.
Dating from Home
The Coronavirus may have us social distancing, but singles are turning to the internet to spark romance in spite of it. Dating apps have also seen a surge in popularity as well. With a large amount of the population sequestered at home, many singles are making “quarantine dating” a thing. There’s even a video of a man sending his phone number to a woman with his drone.
Dating with socially isolating may only take up 7.3% of the online dating conversation, but it’s pretty central to it and is found in surrounding conversations as well:
And as the users pour in, dating apps such as Tinder and Bumble are “showing the love” by making some of their formerly paid services available for free. They know that consumers have long memories when they feel they are treated well by a brand. That’s brand awareness being leveraged for loyalty. Smart.
Not every brand is a dating app so the big question for brands right now is how to participate and share the love with their target audience.
Well brands are obviously not in the market for the same type of love, but they can take the opportunity to create connections with what consumer’s are ‘loving’ at the time. Today it’s the Tiger King – but tomorrow is anybody’s guess. That’s why it’s increasingly important to stay on top of the trends with consumer and market intelligence that captures emerging consumer insight.
Connect with us to see how Quid can give your brand the competitive intelligence it needs and how to be the one throwing those lifelines.