How Should Brands React to the Covid-19 Crisis?
It is tempting to read today’s news and hone-in on doom and gloom only for the foreseeable future. Yes – there is the threat of a significant reduction of economic activity due to the COVID-19 pandemic. While many people will be closely monitoring their finances in the coming weeks and months, tight budgeting does not equal a complete end to shopping and big buys. Most individuals feel disempowered when it comes to broader economic trends. However, with a clear sense of the money coming in and the money going out, and gobs of time to spend perusing the internet, many consumers are eagerly planning their next purchase.
For these reasons, now is a prime time to build up your brand’s message and to build brand equity, to show that you are empathetic to what your customers are thinking and feeling. What are their most pressing anxieties at the moment? What do they need, and how can you be helpful; offer useful bits of advice and input, and remain authentic? According to recent research, purchases of “durable goods” are actually on the rise – things like tablets, computers and home appliances are on the up. Since people are preparing to shelter in place for an undetermined period, getting equipped and comfortable at home is a priority for many.
Brands who are ready to awaken into today’s new reality will be well-served by refreshing how they approach current news and how they remain relevant across a flood of pressing information. When a brand can offer some reassurance about how they’re creating a positive net impact, either by caring for their employees, prioritizing sanitary production or providing some service to the health and wellbeing of those who need it most, conscious consumers will take note. This does not mean taking a band-aid approach to product and service offerings – digital marketing and branding transformation that happens today will have a long tail. The effects of your branding now will start to have a ripple effect on customers well beyond today.
If you’re looking for ways to elevate your brand’s presence and create a message that resonates with today’s consumers, ASTRALCOM can help. Get in touch today.