Brand Management During a Crisis Like COVID-19
The Brief
Acting as the squirrel that ran across the road, the COVID-19 pandemic, brought the marketing and advertising industry to a spectacularly dramatic crashing halt. Readjusting their Carrera Aviator sunglasses and crawling out of a steaming heap of metal that used to be the smooth ride that took Marketing Directors and Content Creators through the prosperous 10 year long uprise of Marketing. We now stand at the side of the road with trembling knees as we look around trying to grasp at what just happened and how we are going to get out of this mess.
The post 2008-09 Global Financial Crisis world saw the emergence of Customer Experience centered business models that held a high priority (and more importantly, a budget) for branding and marketing campaigns. Branding, marketing, content and media production companies dove in and offered value for the new generation of companies that established their added value not on superiority by product specifications but rather on community affiliation.
Brands were able heavily leveraged themselves on many many forms of content, tailored to the likes of specific niches, and strategic branding campaigns because consumption habits had shifted thanks to the new generation of consumers entering the workforce, enter the Millennial. With an emphasis on freedom, pleasures and a profound grasp of the ephemeral; Millennials were willing to pay high premiums for products and services that did not offer tangible or practical benefits but rather fulfilled emotional needs and supported their beliefs: political, social and ethical. Now, as money is tight and the word “essential” is tossed around like rice at a wedding, Brands are faced with a considerable challenge: Now what? Yeah, just like that. With negative growth across the board for 2020; businesses are scrambling to cut sandbags in an attempt to get some buoyancy and survive the worst economic downturn since the Great Depression.
As businesses start slashing ropes to lose unnecessary burden, they run the risk of cutting vital lifelines that will assist them in not only successfully navigating the turbulent times ahead, but even prevent them from crashing into the ground. One of the first questions that many firms have right now is: What do I do? Some might think that they have to stop their active campaigns, others might consider keeping on going as if nothing is happening (after all, this is going to eventually end right?), and yet some might even feel compelled to push for more sales or capitalize on needs or trends that have sprouted.
Historically, crises have been an opportunity in disguise. As horrendous as the current events are and as crippling as the uncertainty is, resilience is built in times of crisis. As companies struggle with the financial burdens of stalled economies, brands can productively utilize the time to strengthen bonds with their customer segment and build the reputation as solid leaders. The first piece of advice is for businesses to continue to invest in branding. Case studies demonstrate the varying performances of different investment strategies from the 2008-09 Global Financial Crisis. Firms that continued to invest in branding during the 2008-09 Global Financial Crisis came out with a greater market share than those who reduced their branding budget or “went dark”. The caveat is to focus on long-term gain and not short term profit; remember that post-crisis growth tends to be multiple times that of regular years, so with a smart approach, businesses stand to benefit from a projected positive 2021.
The very platforms that accelerated, and likely intensified, the economic crisis that has ensued from the sanitation crisis, are the tools that will help brands navigate the turbulent waters of the COVID-19 pandemic. But just as with every tool, you have to know how to properly utilize them in order to obtain the best results possible. Compounding a myriad of information from an equally extensive set of sources, we share some insight into some of the recommendations that experts and top thinkers from the realm of Business Intelligence, Branding, Marketing Strategy, Social Media Management, and Technology have bestowed through articles, whitepapers, columns and podcasts.
One of the first, and most iterated, pieces of advice that experts share is that if you have nothing of value to share, it is best to not say anything. Simply put “just shut up”. But more specifically, they say that you should assess where your business stands with respect to the crisis; if your business plays a pivotal role in the development of events or is essential for the daily lives of people in your community, then your message may very well be expected and may even carry the weight of being influential to the outlook of the followers. Hence your message should be tailored to adequately reflect the stance that your company is taking with respect to the uncertainties. Consequently, if your company does not qualify as essential or relevant, then your message should most likely be reserved to occasional messages of support, adjusted to the tone and voice of your brand, it is never a good time to break out of character.
This leads onto the next point, sales. We are hurting, some more than others, but ultimately everybody’s books have been hit; and too many companies are trying to be extra creative with how to lift sales. Once again, relevance is key; but it is important to adjust the tone of the sale. An aggressive or fear motivated sale may have momentary benefits but in the long run the brand may come out stained. During a Planable webinar, a panel mentioned the difference between a BTL push of: “don’t run out of toilet paper, buy from us” and a message of: “during these tough times there are many things to think about, we are working extra hard so that at least one of the essentials won’t be one of them and you will always find the shelves stocked.” It was summed up by the panel by saying: “If your sales feel sleazy, it’s probably because they are.”
On top of it all, now is not an active market; shifts on the demand side have plummeted and the disruptions to the supply chain have strained the supply side. It is recommended that the main focus not be sales, but to become as lean as possible and use the time to strengthen the brand’s placement amongst the customer segment; again, a brand accurate and relevant message. An assessment of the quarterly marketing strategies and scheduled content is necessary to assure that no contradictory or damaging information or messages are being delivered: check your scheduled blogs, social media captions, push and email marketing campaigns, and do the necessary improvements or repairs.
A tactful recommendation is to humanize your brand, now is a great time to remember that we are fully present in the times of lovemarks and communication is fundamental. Brands can no longer trumpet out their messages to hordes of speechless constituents; now, customers need and demand a human touch and voice from the leaders of their communities. Don’t be afraid to bring out the name and face of your company’s leader and for the time being having them be the ones who deliver the messages.
Lastly, don’t topple your content pillars and replace them with COVID-19. People want information that will give them value and shift them away from negative emotions; adapting your content to be relevant is important; you don’t want a post scheduled two months ago that talks about licking your fingers to come out now. But if you saturate your channels with messages that may cause negative emotions to arise, you will be giving your brand a disservice because by the end of the situation your brand will have accumulated an unfavorable ratio of negative emotional responses to positive emotional responses and ultimately have a “bitter flavor” that will have to be rectified or re-branded.
The Outlook
Leaders are sturdy mountains to lean on, acknowledgement of the situation is crucial and intelligent communication is vital for success in the long run. In the end, continue to project your brand’s essence, voice, values, mission and vision with a more humanistic stance and focus on long term benefit.
Your brand, and ultimately future sales, are forged during these trying times.
References
Planable - Content Planning During a Crisis
MIT Sloan Management Review - Managing Stress and Emotoin When Working Remotely
Linkedin Marketing Solutions Blog - Advertising in Recession: Long, Short or Dark?
