How Can Marketers Weather The Covid-19 Crisis?
As part of our new series, ‘Marketers Playbook for 2020 Post Covid-19?, Mr. Nikhil Gupta, Commercial Operations Manager & Head- Integrated Marketing Communications, Signify Innovations India, says that as the pandemic continues to unfold, marketers should do what they are best at – adapt
The Covid-19 pandemic has ushered an era of uncertainties that is currently gripping all of humanity, economies, governments and also businesses and marketing. The outbreak has caused anxiety amongst consumers across demographic divisions, disrupting the way brands reached out to customers and potential customers. As consumers are trying to figure out how to respond to a changed world, marketers need to remain nimble and reinvent strategies while optimizing budgets and performance.
What made business sense a month ago, may not be seem very rational today. Marketers, and even other leaders, are relearning their performance metrics pretty much from scratch, like a startup would, as consumption expectations change and disposable incomes decimate. This outbreak hasn’t just shaken the economy, it has also reset consumer behavior and business models. How do brands continuously remain relevant for their audience? How can they assuage their customers' concerns? How can they leverage data and analytics to stay ahead of this fluid situation? These are important questions for brand managers and marketers to ask today so that they are prepared to thrive in the next phase.
Here are few things that marketers need to consider while looking to engage with their consumers in the ‘new normal’
As the world reels under the impact of Covid-19 and the situation continues to unfold, marketers are required to do what they are best at – adapt. Eventually when this subsides, consumers will reevaluate their life goals, financial priorities and purchasing decisions. Staying on top of how trends change, watching the data for insight, listening to consumers and understanding new demands will be key in emerging as a relevant and desirable brand at that time.
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