Marketing in Times of Crisis – Chapter 01: The crisis has arrived!

We are starting a new series of posts: marketing in times of crisis. A series in which we will review together what happens to brands and consumers in times of crisis, and what we can do to keep our company selling in these times.
We hope you like this new series of posts! As always you can share your opinion and ask us questions by sending us a message from our contact form or from our social networks.
That said: let’s get down to business, on to chapter 01!
MARKETING IN TIMES OF CRISIS – Chapter 01: The crisis has arrived!
2020 begins, there we were, quietly planning the year’s sales when all of a sudden…. BAM! Crisis, the crisis has arrived! 😱
The R.A.E. defines “crisis” as a “profound and consequential change in a process or situation, or in the way in which it is perceived“. This profound change affects us at three levels:
👉 At the level of the environment: we suffer a recession, new regulations come out and our technological habits change.
If we take the example of the current crisis we have ❗️a high rate of unemployment and ERTEs (recession); ❗️a series of COVID prevention protocols are put in place – masks, etc. (new regulations); ❗️ companies digitize access to information through the use of QR codes, development of web pages, etc.
👉 At the industry level: more rivalry, more price wars, appearance of substitute products.
If we take the example of the current crisis we have❗️ more messages of support than ever before (how many videos of support and affection did you see during the confinement? ❗️companies making more offers than ever (price war); ❗️ the rise of remote connection platforms such as Zoom etc. so that we can telework and see each other (substitute products).
👉 At the customer level: they are more emotional, they pay less attention to our products, they change their habits.
If we take the example of the current crisis we have ❗️ an explosion in March/April of emotional videos and content of all kinds about COVID-19 (increased emotionality); ❗️ sales of sports equipment and trainings increased during the confinement (change of habits); ❗️ more purchases from companies with home delivery (change of brands and privilege of service)
See you soon with chapter 02!