Greater economic turmoil over the past couple of months has led to a certain amount of uncertainty and potential change in purchase habits as we continue to live through COVID-19 for the foreseeable future.
Strong brands make a significant investment in brand standards implemented across their enterprises and suppliers and take time to continuously measure brand consistency against their guidelines. Too often, when there are sudden changes in the market, brands may veer off course with their message inadvertently eroded due to lack of clarity, misuse of brand personas or incorrect re-evaluation of emphasis in what may be a new customer journey due to the environmental changes. Assigning the right strategy and talent to the right task continues to be essential for ongoing market relevance.
Successful brands balance the need for brand consistency with the need for market relevance to create differentiation and relevance to their advantage.
They have invested not only in the conceptual requirements of brand management, but also in infrastructure and operational requirements for asset (product/service) management, on-demand systems, global and domestic market relevance and virtual solutions where expectations are continuously defined and held in alignment with evolving health concerns and corresponding measurements.
The threat of brand deterioration exists everywhere today as we face the global pandemic, but nowhere has it been subject to greater volatility than in the virtual channels as everyone is jumping on social distancing and Zoom as the new conference room.
As our countries start to “re-open for business,” have you been going back to basics, your customer personas and journeys and evaluating what may have to change? Are you being innovative and thinking outside the box or are you just waiting and hoping for business as usual?
Now is the time for Customer Surveys, market research and thinking outside the box!
Leverage the voice of your existing customers, key target prospects and competitors to shape your post COVID relevant brand message. Create a dialog, test the waters while people seem to have more bandwidth to engage to build your new content, campaign calendars empowered through your new research to engage your targets with your RELEVANT competitive advantage.
Where to start?
Listen to Your Customers
The very act of exploring and reviewing your existing metrics such as Net Promoter Score, Customer Surveys, and Lifetime Values to re-structure research initiatives and ultimately your brand message shows that you care.
How many e-mails have you received from companies about what they are doing in response to COVID in contrast to how many asking what you would like to see done so you feel safe to continue to do business with that company? My bet is no matter where you are Director to C-Suite, you would answer a 3-5 question survey asking your opinion on what you need given where we are as an economy in very uncertain times. Even if you had to answer that you’d like to be asked again in 3 months when you have a better answer!
Measure What Matters
Despite the compelling discussion of brand valuation that defines today’s most profitable and successful brands, the emphasis to measure success often focuses on the literal metrics of shopping cart conversion or clicks.
Redefine measurements of success such as content resonance, brand sharing, volume and engagement as you are re-evaluating your market relevance
Use this as opportunity to catapult the value of your brand(s) to even greater heights through clarity and resonance with your audiences.
Think of now as a time to clear your slate and improve your relevance!!