The Future of Marketing is Phygital, Marketing & Advertising News, AND BrandEquity

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The COVID-19 shutdown has caused all businesses to switch, almost overnight, to digital support and adopt new ways of working. Brands and businesses that have been nimble in their approach to adapting to changing circumstances have come out on top while others that were unable or late to respond suffered losses.

Today, digital is no longer just a medium, but a way of life. Whether it’s buying groceries, clothes, handsets, ordering food, continuing their educational journey through online courses, ordering taxis, customers can do it all digitally . However, the physical medium of commerce is still relevant and customers continue to trust it. Brands have realized that in the future, consumers will live in a hybrid world – online and offline – and will need to speak to them in a similar ecosystem. A report suggests that once in a physical store, 82% of shoppers will use their mobile devices to read product reviews and find better deals before speaking to a salesperson. Therefore, phygital is the way to go when brands need to map customer journeys across online and offline touchpoints.

An industry veteran pointed out that the “phygital” strategy accepts the reality that customers have become increasingly accustomed to digital means of interacting with the world while adapting to the opening of the physical world in completely safe.

According to research and experts, customers always want to touch and feel a product, and nothing has replaced it. For example, people can watch many movies online via connected TV or on OTT platforms, but they still go to a cineplex for a different on-the-ground experience than online. These two diverse ecosystems will continue to coexist.

Phygital as a concept is not new and several brands before the Covid-19 restrictions were trying to integrate it into their customer journeys. Brands are continuously investing in creating phygital experiences to provide the customer with the convenience and immediacy of online and interpersonal interaction of physical stores.

Today, every brand must create a seamless and holistic omnichannel customer experience designed with a single customer view. Brands need to transform their field experience, enable social listening, ORM, and deploy multiple AI-enabled tools to generate data and create personalized experiences as customers move across channels. without wasting time. AR & VR, Metaverse, location-based offers, AI-enabled hyper-personalization are some of the technologies brands are focusing on to transform and create phygital experiences across the value chain.

On the eve of Women’s Day, March 8, ET BrandEquity, in association with Eruditus Executive Education, is hosting a session on “Marketing in the Phygital World: Transforming the Consumer Journey from Offline to Online”. This roundtable, supported by Indian School of Business Executive Education, will see a diverse forum of female entrepreneurs come together virtually to discuss what the future holds for this field.

ISB Executive Education also offers a course that nurtures individuals who want to accelerate their digital growth while operating in this phygital realm. This is a 12-week digital marketing and analytics program where participants will learn how to optimize their digital campaigns, improve customer engagement and achieve business goals.

As consumers move towards a hybrid world, phygital experiences expand and businesses simultaneously seek marketers who can understand digital customer behavior and develop strategies to create delightful omnichannel experiences that drive sustained business growth in this dynamic environment.

You can register for the webinar here:
https://brandequity.economictimes.indiatimes.com/webinars/marketing-in-the-phygitalworld/1240?upcache=2

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