Why now is the time to invest in Brand Marketing
Why now is the time to invest in brand marketing?
Here’s a scenario: You have a strong value proposition, your customers leave positive testimonial after positive testimonial, you exceed the capabilities of the competition frequently, but right now your business is fighting for survival.
You are not alone, there are very few industries that have not been negatively impacted by the COVID-19 pandemic, the urge to bombard customers with sales promotion and offers discounting your services is high. But business owners and marketing managers must avoid this temptation why? Consumers are also in survival mode, businesses are limiting spend to critical operations; whether you discount your services dramatically or not the uncertainty over the current situation and precariousness of brand perception at this time means that the chances of growing sales are at an all-time low for the majority of sectors.
Customers react negatively to brands appearing to profiteer off the pandemic or hijacking a conversation to gain an advantage, if you choose to market your business at this time it must be in such a way it genuinely adds value to your customers, is responsible and the messaging considered.
Whilst sitting and waiting for the pandemic to pass is an option that’s been forced upon many, those with the opportunity must imagine where they want their brand to be after lockdown, we must be mindful that consumer perception has undoubtedly changed forever, marketing has changed forever, we no longer do business in the way we’ve become accustomed to but we must adapt to survive.
Every business will have a unique set of challenges right now but what can you do to ensure your brand sees the light at the end of tunnel?
Go Digital
Review your promotional mix, consider switching to digital channels where possible i.e. if your marketing weighted a lot towards out of home advertising, consider display advertising alternatives.
Add Value
Ensure communications are sensitive to your target audiences current challenges and create a sense of community with content that adds value. (We have solutions that can answer this for you if you’re not sure, email us at [email protected])
Be Visual
Video content continues to be more engaging and favoured by consumers that product marketing in any other form. Content such as this can be created remotely and a low cost
Acknowledge Productivity & Welfare
Internal marketing has probably never been more important, workforces are divided by circumstance; whilst some may be isolated at home others are mandated to continue to work, communicating the ambitions and strategy of the organisation during this period is critical to maintaining (and if not improving) employee productivity and safeguarding their welfare. Whilst businesses are under threat, employees are also under strain, as an employer you have a legal duty of care to look after the wellbeing of staff and that’s inclusive of mental health and work-related stress.
Spend Creatively
Consider the cost ratio benefit across all operations, this does not mean cease marketing, if you can deliver marketing communications in such a way as described previously (which we appreciate is contingent on the nature of your business and current market conditions) then adjust your messaging and continue to promote services only where appropriate and where there is no risk to brand reputation.