Frances Zelazny is the chief marketing officer at Signals Analytics, an information technology and services provider trusted by global brands such as Procter & Gamble, Nestle and Johnson & Johnson. For over 25 years, Zelazny has worked with startups to develop their marketing strategies and establish an online presence.

In this interview with Advantages, Zelazny discusses how companies can prepare for 2021 after all we learned during 2020.

Frances Zelazny, chief marketing officer at Signals Analytics

Q: In the wake of the COVID-19 outbreak, how can companies prepare for tomorrow while balancing the uncertainties of today?
A: With the landscape shifting so quickly, companies have to understand what the shifts mean for their customers. Customers care about different things today than they did before the pandemic. But you have to determine whether their wants and needs are short-term or long-term. If they’re short-term, there’s no time for a focus group. Take action now. If they’re long-term, investing in those solutions now will set you up for even greater success in the future.

Q: What markets should companies focus on in this new landscape?
A: Anything that people will still need to do at home. Eating, drinking, cleaning, etc. Stay away from traveling and vacations. Customers may still want the same things as they did before the pandemic, but the motive may be different now. For example, the main driver of vegan food was that people cared about the environment and animal cruelty. Now the main driver is health – people associate health benefits with veganism and want to be healthy during the pandemic.

Q: How does data play a role in these decisions?
A: Use social media to see how customers are feeling, what they’re thinking and what they want. It’s more immediate than sales and a quick way to see trends. If you see lots of chatter about something but few products to solve the issue, there’s an opportunity there.

Q: How can companies play it safe despite the economic uncertainty?
A: Be data-driven in your approach – don’t rely on gut instinct or an opinion. Data can guide different long-term and short-term decisions. We have months of solid data based on the pandemic. There’s enough evidence now to start predicting the next few months and maybe even longer.

Q: Is there one area to primarily focus on for predicting the future?
A: You can’t rely on a single data point. You have to gather information from all sources: social media, influencers, product reviews, etc. Looking at what was in demand during past recessions can also help, even though we’ve never gone through anything quite like this.