The global outbreak of COVID-19 has wiped out the years of economic gains leaving 215 countries badly affected. Amid the crisis, most of the brands are encountering the worst of the challenges as the outbreak has created an unprecedented situation for everyone.
While many stay afloat and maximize sales in existing situations, most of the brands have paused their ad campaigns for April and May and mull over their sales strategies, brand outlook, and solutions as they are unsure what they should be doing, what consumers expect, and how the market rebound is going to affect them.
What do Consumers Expect?
A recent study of Kantar showed 92 percent of respondents want brands to continue their advertising with a sensitive tone, and messaging around values.
“A survey of more than 35,000 consumers globally by Kantar found that just 8 percent thought brands should stop advertising. However, there is a clear expectation that companies should play their part, with 78 percent of consumers believing brands should help them in their daily lives, 75 percent saying brands should inform people of what they’re doing and 74 percent think companies should not take advantage of the situation”, stated Kantar.
With gradual lockdown relaxations across the world, the consumers are overcoming the anxiety and adapting the new way of living and working. The research also shows up some examples of how the fine line brands are treading with the right advertising tone of communication. As consumers are now spending more than double the time on the internet consuming content, this is the best time for the brands to stay in touch with their target audience. For example, Ikea’s communications focused on the importance of home, Nike’s messaging around the current need to stay indoors, and Thai Airways that show a ray of hope of flying again, are seen as supportive of government messaging and health organizations while staying true to their brand values.
Here’s why advertising at this time is going to help your brand:-
Consumer Focus on Brand Communication
Brands need to redefine their vision amid the current scenario and redraw a clear direction. Developing a strong communication strategy is the road ahead. The communication strategy needs to be focused on managing the expectations of consumers and maintaining trust and faith in the brand. In this, leadership remains the key. Internally, the team needs to have a common lexicon in which to communicate, so there are an implicit understanding and agreement that improved efficiency and tamps down stress.
Crisis Present Opportunities Too
Do not focus on the negatives, understand the depth of the crisis, and take action. As per consultancy services firm EY, turning crisis into an opportunity can result in fundamental, long-term growth and success if it’s carried out well. “It’s all about making sure business objectives and risk management are aligned with one another,” said a report by the firm. It cites a study in which 97 percent of companies said they had developed and improved as a result of better alignment of levels of risk with potential rewards.
Remember, companies like Microsoft, Disney, and LinkedIn were founded during the times of economic downturn, and their risk management over the years paid off them with long-term growth and higher revenue.
Stay in Touch With Your TG Digitally
With increased economic activity on digital media, it has become more important than ever for brands and advertisers to focus on online communication. You can easily get your business to stay in touch with your target audience. With digital being effective in reach and cost-effective options, brands can stay in on the potential customer’s mind with their effective, accurate advertising and marketing campaigns.
If you are thinking of the post-lockdown world and how to navigate your brand ahead with your right advertising and communication strategies, then write to us at [email protected]. Our core team with over four decades of experience understands the depth of the crisis and will help you get through these trying times with a cost-effective approach.