How Has The Pandemic Changed The Way We Build Brands?
How has “build brands” changed as a result of these extraordinary times? The fundamentals of brand building remain the same, but the “how” is much different. Finding focus in a world of volatility is going to be much harder. The world has just gone through one of the most significant crises of this century — the Covid-19 pandemic — and many brands are still faced with a myriad of uncertainties, needing new playbooks.
So, how can organizations learn to navigate the waters of a reality in which their products and services might not have the same standing these days as they did pre-pandemic? There is no going back to the old normal, and we must embrace new marketing truths to drive growth in a post-Covid-19 world.
1. Keep a pulse on what customers want (and need).
The already digital-first world became even more digital during the Covid-19 pandemic in the wake of social distancing restrictions and lockdown bans. These days, as consumers, we are used to getting what we want when went want it, thanks to Uber, DoorDash, Amazon, Facebook and others. As consumers spend more time online, there is a decline in spontaneity and serendipity that goes into buying considerations.
In order to build a brand, you must have a clear understanding of customer expectations. Did you know that companies that excel in consumer journeys have a more distinct competitive advantage? According to Salesforce’s CMO Survey, 84% of customers say the experience a company provides is as important as its products and services — up from 80% in 2018.
As companies look to build trust, it’s important that marketers own customer experience initiatives across the organization. It’s not enough to have a presence. Marketers must invest in driving engagement mapped to customer needs.
2. Stand for something.
There’s nothing like a global pandemic to get people feeling compelled to donate, give their time and choose brands that do the same. To do this, you must get your audience to understand how the social problem your brand solves increases the overall value of doing business with you. In a nutshell, people will pay more when they believe their funds are going to good. But it’s up to you to convince them that your cause is worthy.
3. Prioritize authenticity to drive action.
During the pandemic, consumers got used to empathy from brands. Whether it was a Super Bowl commercial thanking doctors and nurses or a YouTube ad about the importance of the vaccine, consumers got accustomed to dealing with empathetic brands that put people over profits.
Customers are also used to and crave an authentic tone of voice from brands. The pandemic has put a premium on truth. Keeping consumers reliably informed has never been more vital.
A brand should stand behind great values, not just a great product, and the best way to convey these values is by your messaging and tone of voice. It’s important to stay authentic and not overdo it. Otherwise, it will seem like you are acting, and consumers will see straight through it.
4. Hype cycles demand faster product cycles.
We learned just how important agility and innovation are when overnight the kids could no longer learn at school and you and your spouse could not return to the office to work. Brands should seek to be innovative and keep on top of the latest trends, so they can evolve with their customers and not get left behind. During the pandemic, as brick-and-mortar locations were forced to close, brands had no choice but to be more agile and innovative to keep sales and customer engagements from tanking.
For example, Nike focused on connecting digitally with its customers by offering free training videos on YouTube. It also made its Training Club app free, which helped the brand accumulate 25 million new members in the fourth quarter. These innovation efforts worked, and Nike saw an 83% spike in digital sales in 2020.
5. Promote togetherness.
In a post-pandemic world, it’s important to promote togetherness online and offline. This can help you forge a closer bond with your customers. Virtual connections carried a much heavier weight during the pandemic as people were no longer able to meet up in person due to quarantines, travel restrictions and social distancing guidelines.
To promote togetherness online, brands can host virtual events to engage with customers. For example, restaurants can host virtual cooking classes and clothing brands can host virtual fashion shows. We’ve also seen voice platforms, such as Clubhouse, rise in popularity, allowing brands to connect on a deeper level with customers by providing helpful advice and interviewing industry leaders and even celebrities. This shift to unity among brands and customers with a focus on sharing advice and enhancing relationships is doing wonders for enhancing the brand-customer relationship and boosting loyalty and sales.
The pandemic has been an extremely challenging time for most brands. But, the good news is, a bit of innovating and strategy-tweaking can help brands get back on track and even start engaging with customers at higher levels than ever before.
Source: https://www.forbes.com/sites/theyec/2021/06/02/how-has-the-pandemic-changed-the-way-we-build-brands
Metta Marketing
Leading Brand Strategy Consultant