Throughout the course of 2020, Covid-19 has progressively leveled corporate expectations worldwide. Over the course of the pandemic, we’ve seen executives pay great attention to the Sales, Supply Chain, and Technology segments of their respective businesses but comparatively there’s been a failure to action the Marketing Division and the competitive advantages therein.
How then, does a modern marketing division justify both the funding that it receives as well as its own existence? Namely, by Inspiring Trust to Build a Resilient Brand Strategy, Creating Moments that Matter by Harnessing Digital Experiences, and by using Data & Analytics to Drive Visibility into Marketing Effectiveness.
Building a Resilient Brand Strategy
Due to the nature of technological progress, consumers expect access to reviews, cost, and comparisons whilst interacting with a brand. Naturally, in this process, they are skeptical of companies that seem to withhold information and when it comes to marketing – particularly during a pandemic – this is no different. Consumers do not want to feel as though the wool is being pulled over their eyes.
Consequently, it is essential that businesses now build a resilient brand image & strategy that keeps them in step with the general needs and sentiments of the modern consumer. Since the beginning of the pandemic we have seen two solutions to this issue come up more than any other.
As the pandemic has worn on, customers have become more critical of the businesses that they shop with, with many consumers now looking at how specific enterprises align to their personal aims and intentions. During July, the communications firm Ketchum revealed that 45% of consumers had changed brand preferences during the pandemic due either to the brand failing to appreciate their struggles in relation to Covid-19, or a failure to engage with racial justice issues in the US following BLM protests.
In short, it is not enough to remain silent anymore, effective marketing teams consider the lives of their consumers and how recent events might thwart their ability to engage.
Consumers are simply not interested in pushiness at the moment: where they do engage with advertising they want security and positivity during COVID-19 and as you open up for business again and put all necessary safety measures in place, you must make sure that the message that you broadcast emphasizes your commitments to these measures. The sentiment of “I have to look after my (and my family’s) health as a priority” has never been more important; successful marketers will appreciate this worry and echo the attitude.
Advantages of a more Resilient Brand Strategy
- Greater ability to adapt to the knocks and setbacks of business
- Able to extend to new products, new business models and bring customers with them
- Positive word of mouth leads to more advocates for the business
- Competitive edge in the market
- Enhanced credibility and ease of purchase
However, this is just one of the three key solutions mentioned above that a marketer might employ to quickly respond to the threat posed by the coronavirus whilst also future-proofing their business for years to come.
To learn more, download the full report here or continue the debate at the CMO Brand Insight Summit, a GDS Summit, where we bring together senior supply chain executives who are actively seeking to share, learn, engage, and find the best technology solutions.
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