How do we market and manage our businesses as the country experiments with “opening up?” How do marketers balance their original growth strategies for 2020 with the new, much different reality? Is this about post-crisis or merely managing intervals in a crisis? It's a lot to untangle.
There used to be an adage business folks bandied about in the early aughts, “the only constant is change.” Well, that could now be rewritten as “the only thing certain is uncertainty.” We just don’t know what will happen between the behavior of a virus, the impact on the complex system of global economies and the changes in political leadership to come.
Still, we have to make progress. Humans are, by nature a planful bunch. Clearly the key today is to adjust strategies and remain nimble to shift given circumstances. Based on the last fifteen years of experience associated with social media adoption, brands have become nimbler. In March, brands put marketing programs on hold, made huge operational shifts and adopted crisis communications to respond to employees, customers and financial stakeholders.
Here are five priorities for marketers as we emerge from the first phase of this crisis and segue into the next, marathon phase:
Re-align Marketing Strategy to Business Goals
Don’t throw out your strategy. Adjust and re-align it to business goals that respond to new realities. Some businesses will suffer greater or longer-lasting disruption. The airline business and travel, in general, will suffer for a prolonged period. Movie theaters may not recover as the businesses they were before the crisis. People will still buy homes, fewer perhaps, but that business doesn’t just stop. That being said, shopping for homes may shift as people rely on virtual tours as they seek ex-urban places to live now that virtual work (and the threat of compressed populations) is more possible.
Chances are before COVID-19 (BCVD), you had a growth strategy in some part of your business. Now, you may need to shift to improving retention. That’s a reasonable shift in goals. Now, re-align your marketing strategy to that priority.
Kathy Bachmann, GM of Americas with the consultancy Analytic Partners Inc. told Paul Talbot in Forbes about the type of strategic shifts some brands are taking in their business:
“Here are some examples of the types of shifts we’re seeing and expect to see in marketing approaches and investments:
-
Directing investments toward marketing tactics that drive online sales.
-
Reducing marketing investments on campaigns to drive short-term sales or business outcomes, while keeping brand-building campaigns live – essentially saving dry powder.
-
Shifting budgets to promoting at-home and delivery-based options (i.e., at-home fitness solutions/equipment/apps, grocery delivery, restaurant delivery, etc.)
-
Shifting focus from promoting premium products to entry-point or everyday items….”
Our businesses will change in big and small ways. Consumer habits will change temporarily and permanently. We need to adjust, and we need strategy to align our organizations to do more than react to crisis. Don’t settle for just reacting to the crisis.
Join with Research for a 3-Legged Marathon
Think you know what your customers want or are worried about? Wait a day and it might change. Now is the time to adopt new practices to get constant input and insight about customers and sales channels. That certainly means strengthening any voice of the customer programs you have (grabbing feedback from customers during dozens of interactions). We are running a series of consumer and distribution channel surveys every two weeks to keep a pulse on how people’s attitudes and behaviors are changing (e.g. a rise in ‘fear of the unknown’). This is on top of our real-time feedback from social media, regular insights from search behavior (e.g. “what DIY projects are people planning/doing based upon Pinterest and Google searches”), and our VOC programs.
For anything new, we are engaging customers in qualitative co-creation sessions virtually. We need their current views to help us bring something to market that makes sense. One way or another, join with research at the hip and keep them embedded in your efforts for the foreseeable future. Embrace the 3-legged marathon.
Demonstrate What Your Brand Believes in and Distinctly Delivers
Many brands stream stories through their social channels and even via paid media of their support for the healthcare front line, the service workers delivering packages and their own employees who do their job in the face of adversity and uncertainty. Unfortunately, there is a sameness to all of these montages. They are largely being done to benefit employee morale and assure the rank and file that their work has meaning. Nothing wrong with that.
Still, as we emerge from this first phase of the crisis, brands will benefit from demonstrating what they believe in and what distinct role they can play in people’s lives. This may sound like the usual call for brands to invest in “brand” or embrace a purpose. Sort of. Post Covid-19 (PCVD), brands will need to demonstrate how they are helping people live their lives under the oppressive uncertainty we all face. The question is what does your brand mean now.
McKinsey takes a look at what marketers need to do during this immediate crisis and afterwards:
“Our analysis of consumer decision-journey behaviors showed that 87 percent of consumers shopped around: they were willing to consider other brands. We believe that behavior could be even more drastic given the scale and nature of this disruption…Marketers should begin revisiting what their brand means to customers. Agile marketing practices—typically focused on performance marketing—will need to be adopted at the brand-building level, with communications managed rapidly in test, learn, and refine cycles of continuous improvement.”
That notion that we apply rapid test-and-learn practices on brand-building is new. Having a static notion of your brand position won’t cut it anymore.
Put Some Jet Fuel into Digital Transformation
Clearly this jagged-edge “zig” we are all living through has demonstrated the urgent need for more digital ways to deliver products and services, customer experience and manage ourselves. We need to make digital change happen faster. But it is not as simple as green-lighting all those digital transformation projects that your business couldn’t find a way to fund BCVD. Funding will be scarce.
This is the time for leadership to step forward, roll up their sleeves and work with their most innovative business leaders to place some bets. You cannot delegate the selection of digital transformation projects/initiatives to the next tier. Digital transformation most often requires participation across the org chart. It’s up to the C-suite to declare big priorities to stimulate true collaboration and commitment.
Where to start? Accelerate that part of the customer journey that current circumstances reveal is more urgent. Double-down on that CRM implementation or expansion that will quickly make a fully remote field force more productive. Choose those projects that are so foundational, they can no longer be ignored (e.g. fix customer data) and those initiatives that will help the most people interact with your business digitally.
Be Generous with Your Customers
What do your customers need most right now? If you ask them (see the 3-legged marathon above), you will find out that what you ultimately sell or deliver to them is actually helpful. If you are a bank, you can offer them guidance on managing their finances in a recession. If you are a restaurant, you can go beyond take away to allow them to subscribe to a meal-a-week delivered to their door. Yes, touchless or whatever makes folks feel more comfortable. If youy are an insurance company, you can recognize that people are driving lsss and give them a break on the car insurance bill.
When business locations open again, what do we all want to know? That you care enough about your customers to have special cleaning protocols in place to reduce the chances of your doorknobs and surfaces carrying the virus. “Generous” means “liberal in giving or sharing; unselfish.” Call it doing the right thing; demonstrating empathy; simply caring enough about your customers to listen closely and aim to serve them in a generous way.
Like a lot of folks, we tried to order from local restaurants regularly to keep their businesses going. When I would pick up, I noticed a range of safety behaviors from the pizza place that hadn’t changed a bit and forced nervous dads into a small takeout pickup room where no one wore masks or gloves to the other Italian restaurant who arranged curbside pickup from masked and gloved staff. This second experience demonstrated a business who was empathetic to the concerns of many of their customers.
Think about what would really help your customers now. Do that. Then optimize for efficiency. People need brands who care about them.
Here are 4 useful POVs on how brands are leaning into PCVD marketing: