The journey to revival and role of marketing through COVID-19

 2020 undoubtedly would be the year dedicated to ‘COVID-19’, which has literally turned things upside down across all spheres of life.

 A lot has been said on ‘the downside’ and the ‘fear of uncertainty’ but as Albert Einstein said, “In the middle of adversity there is great opportunity”, so, let us refocus - from lamenting to a mindset off breakthroughs.

 Every major world event changes the definition of “Normal”. For example, World War 1 saw many firsts – the first ‘blood bank’ came into existence, women joined the workforce and the first trouser for a woman was stitched!

 The current war against COVID-19 has accelerated transformation at an unprecedented level, pushing us to not just acknowledge and adapt but also plan next and the beyond with a sense of urgency. Unquestionably, in just a matter of days we have seen major shifts in consumer behavior. Marketers will lead the transformation in businesses, helping them bounce back faster and stronger, with ‘Consumer Centricity’ and with Artificial Intelligence - Digital driven conversations and transactions. So, let’s take a look at what actions can we take and how do we lead the world of business into this new era.

 Empathy and transparency

Empathy and Transparency are the core values and continue to remain a must. It is time for brands to be inspirational leaders and tap into resources to provide empathetic assistance during this difficult time. This will not just aid in building long-term loyalty but more importantly, help develop a personal connection with the consumers. For instance, a leading personal hygiene brand released public service messages with witty analogies for washing hands to prevent the spread of COVID-19, by using any soap available. The communication emphasizes that the ad was not for branding or promoting sales, but to spread awareness around protection against the disease.

 To build a more meaningful connection with consumers, brands must practise empathy, especially in times like these, which remind us that we’re more than marketers - we’re humans. Drive growth through good!

 Value perception

Consumers are changing their value equations and what brands offer must be relevant to this new equation. In some categories and consumer cohorts, affordability has taken precedence, while in others, they are gravitating towards known and trusted brands. Definition of trust itself is changing. Brands must offer a convincing value message to succeed in the next normal.

 There is no one-size-fits-all approach to maintaining or improving consumer value perception. Brands need a multipronged strategy to address what value means to your most important consumers. If your core consumers have been impacted financially, they will tend to gravitate towards brands that offer compelling price points, conversely affluent cohorts might be less price sensitive but may look for reinforcement of quality and safety standards. The same will apply to route to market strategies.

 Agility

While the lockdown phase may be behind us, the pace and shape of the recovery is still difficult to predict. Agility—the ability to respond rapidly to changes in consumer sentiment and value perception, will be crucial for business recovery. Build a rapid-response operating model with advertising agencies to quickly craft messages as circumstances change. Supplement commercial levers that have long lead time (print, commercial etc.) with levers that allow immediate adjustments (digital, in-store pricing, display, promotions etc.).

 Socially distant, technologically connected

A few years ago, it would have been impossible to imagine that technology could ever replace in-person interactions with consumers. While we are socially distant it is still imperative for brands to stay connected with its consumers. Artificial Intelligence (AI) makes it possible, without sacrificing much of emotional connect. For instance, the use of emotionally intelligent chatbots can help us stay connected with the consumers, while video analytics that leverage facial coding, voice modulation and eye movements can be used to decode the true consumer sentiment. OOH (out of home) to In-Home, the progress in digital technology has never been more evident than now, during the pandemic, and screens are a boon.

 So, whether it is a virtual pub quiz or a dance party, it may be particularly valuable even now post Unlock 2.0, since consumers are still nervous about stepping out. From helping make faster and better decisions to automating remote work to enabling robots to respond to emotions, AI and machine learning are already reshaping business and society. Companies that don't use AI will soon be obsolete.

 Innovation

In fact, times of crisis are also hot beds for innovations. If a brand innovates and evolves as per its consumer’s needs, it grows leaps and bounds. It has been observed that change in buying behaviour of the consumers during the lockdown has opened-up the field for smaller, niche brands to build their own space, which are giving higher value to consumers. These brands and products are certainly here to stay.

 To sum up, as marketers we need to look forward and create a stronger position for our brands in adversity, by creatively and effectively adjusting to new realities. While in the interim we may resort to being tactical and operational, but in order to recover stronger and be resilient in the future we need look into emerging opportunities.

 (The author is Deepa Mohan, Marketing Director, IPM India Wholesale Trading Private Limited, (country affiliate of Philip Morris International Inc.)

 Disclaimer: The views expressed here are solely those of the author and do not in any way represent the views of exchange4media.com.