MARKETING IN TIMES OF CRISIS – CHAPTER 03: WHAT HAPPENS TO BRANDS?

In previous chapters we saw what a crisis is and what happens to consumers in times of crisis. Today it is the turn of brands πŸ‘‡
π‚π€ππˆπ“π”π‹πŽ πŸŽπŸ‘ – 𝐐𝐔𝐄 𝐋𝐄𝐒 𝐏𝐀𝐒𝐀 𝐀 𝐋𝐀𝐒 𝐋𝐀𝐒 πŒπ€π‘π‚π€π’ 𝐄𝐍 π“πˆπ„πŒππŽπ’ 𝐃𝐄 π‚π‘πˆπ’πˆπ’?
As we saw in chapter 2: in times of crisis, consumers change their behavior, including their purchasing behavior, and become much more sensitive to a number of issues. And that is why it is essential for brands to understand how the behavior of their regular customers is changing, and what business opportunities may arise with other potential customers as a result of this change in behavior.
For this reason you will have noticed a number of changes in the type of communication from brands during 2020 (or at least the brands that are still selling):
πŸ‘‰ Their communication is more empathetic: they try to connect with their consumers and show the most human side of their brand. A good example of this are all the videos with messages of love and support that they made during the confinement.
πŸ‘‰ They strive to be relevant: they not only try to connect, but to convince consumers of what their products and services need with an argument based on what need they meet with what they offer. Now more than ever, brands have to show that they are useful to consumers.
In addition to these two axes of communication they have to:
πŸ‘‰Be and show that they are more efficient, optimize resources and show us how this can report in something positive for consumers.
πŸ‘‰ Be timely: you have to be able to identify changes in the needs of your market and adapt fast, fast, fast!
Quite a challenge that brands are facing, don’t you think? And as all challenges are faced with trial and error… so in the next chapters we will see the 3 most common mistakes of brands in times of crisis. See you soon!