As part of our new series, ‘Marketers Playbook for 2020 Post COVID-19?, Manasi Narasimhan, VP and Head Marketing and Communications South Asia, Mastercard says that marketers will need to protect brand reputation and incorporate privacy and security in brand building. Covid-19 is affecting every aspect of business and economies and stock markets around the world are already struggling. With the sustained impact of Covid-19, individuals and companies alike will be forced to adjust to the new normal. With the advent of social distancing norms, work from home will be standard, with a lot of daily activities moving online such as home delivery of groceries and online shopping. A report by LocalCircles mentions that 42% of Indians have increased digital payments during the lockdown, bringing a lot of first-time users who were not tech savvy closer to the digital payment’s ecosystem as well.[1] Transparent and ongoing communication with all stakeholders, is what will tide us through these difficult times. However, there are several other aspects that marketers need to take into consideration as well. 1) Communicating With A Humane Approach In our communication post Covid-19, people are uncertain about what is happening, and what to expect. Being empathetic to their needs will let you be more understanding as to what type of messages will be appreciated. During these times, every action you take could be good or detrimental to your brand. However, by using empathy to craft an informative social media campaign or internal communication campaign, you could reach your audience in an authentic way and build trust. With the amount of data that one consumes, it can cause anxiety and stress. At such times brands need to be cognizant of their role as an enabler and friend and engage responsibly 2) Need To Address Misinformation And Reassure Stakeholders On Business Continuity This is an opportunity for your brand to show that it genuinely cares about its customers and stakeholders in this new normal. One should be proactive in creating an eco-system with partners and relevant stakeholders to build a sustainable business. Stakeholders include consumers of your products and services, investors and shareholders as well as employees. Brands need to reframe their values to what is relevant to their stakeholders and communicate their continuity plans in a way that empowers. Timely information, updates and a transparent approach from the organization’s end can go a long way in reassuring them. Ultimately this will help a brand evolve and endure during difficult times.
- Digital Integration Capabilities