As the world economic recession kicks in, all the brands over the globe are trying to navigate with the new pandemic stages.
After almost half a year of the world went through lockdown & quarantine life. Due to this reason, brands are coping up with the hard truth of the new normal in their marketing world.
The next wave of the pandemic is highly cresting in the western part of the world where the returning of lockdown seems quite looming. To this, businesses are trying hard to gear up with the long and upcoming recession.
Although this year has been much difficult for many, brands are transforming themselves in real-time and setting a stone towards new foundations for future growth.
Below given are a few key focus areas which will help you understand better.
In the pandemic hit days, the whole world has been coping up with 4 challenges simultaneously – a climatic emergency, a relentless pandemic, and the economic recession which is far worse than the 1930s. Customers due to this, not only seek action through fellow citizens or government but also from the brands they purchase from.
The time has long passed for all the brands to walk into the new normal and make a positive difference. Various worlds famous CMOs are making significant and huge commitments in order to boost their advertising. Brands are aligning and taking great initiatives to tackle these pandemic challenges through effective marketing strategies’ that are helping them grow even in the recession period.
Every little bit will help to boost your brand performance and get it back on track post-pandemic.
While the starting stages of the pandemic made all the brands to scramble up and come up with new and outstanding marketing strategies. The overall budget spends on ads this year is much lesser than the past year. Due to the pandemic, various brands are taking a step towards e-commerce as one of the major advertising opportunity. Most of the e-commerce website help you showcase your brand through their ads, which is why this track can definitely help your business grow by adopting this most promising marketing way.
Out of all the e-commerce websites, Amazon is one of the leading advertisers in the world.
Too much ink has been spilled about the role of Chief Marketing Officer which is losing its importance. Many brands have altered the job responsibilities of these officers entirely. Senior marketers are often given the responsibility of achieving targets from the C suite.
But 2020 has revolved around this completely.
As the pandemic hit the world, marketing has turned out to be the central nerve of every brand. With the demand for strong and flexible internal relations for navigating all the changing circumstances, C-suite is turning the tables for marketers in the most effective role. This has completely helped in connecting multiple parts of the businesses for managing the relations with clients. Due to this reason, the roles & responsibilities of the CMO have completely revitalized.
Experience counts highly when it comes to building a long-term brand, but this pandemic has definitely bent the way how brands are approaching it. Providing health and safety measures along with the brand products will surely help your brand to stand out in this COVID-19 era.