WERE YOU ABLE TO GROW YOUR BRAND/BRAND VALUE DURING AND POST COVID-19. IF NOT, LOOK AT THESE TIPS….
Last evening, I attended a webinar on BRAND IN COVID WORLD. The speaker was ABHISHANK BABBAR, who works as Associate Director for Genesis BCW.
According to the speaker, “COVID 19 IS NOT JUST A TEMPORARY DISRUPTION, IT IS CREATING PARADIGM SHIFT IN HOW WE LIVE AND HOW ORGANISATIONS DO BUSINESSES”.
The brands should first notice the change happening, adds the speaker. Where is this change happening?
It’s happening in customers’ consumption (shifting towards e-groceries), customers’ workstyle (work from home culture), customers’ entertainment (inclined towards e-Entertainers), customers’ relations (spending more time with family), customers’ education (e-Learning), etc.
All these have led to the Change in Buying Behaviour of Customers. The noticeable changes are:
(a) Proactive Health Minded Buying (Interest in health safe guarding and improving products).
(b) Reactive Health Management (Buying more products used for virus containment).
(c) Pantry Preparation (Pantry stock piling of stable foods and a broader assortment of health safety products).
(d) Quarantined living presentation (Increased online shopping, decline in store visiting.)
(e) Restricted Living (Severely restricted shopping trips, online fulfilment is limited)
(f) Living a new normal (People will be habituated to more health cautious life style)
Once brands have noticed the changes happening, they need to adapt their messaging and their
products to the changes happening. How do we adapt to these changes?
The speaker says that we need to get back to the ABC of marketing. A- Analyse the Brand core, B- Be attentive, C-Customers’ needs first. The brands should analyse their core offering. They need to look how good is the product for current situation. Then, the brands should listen to the customers -may be on social media, on the websites- on the internet. Look at what customer needs and make sure you be there for him.
Listening to the customers basically means analytics. Some of the analytics sources are
(i) Google analytics(free)
(ii) Facebook/Instagram/Twitter Analytics (free)
(iv) meltwater (paid)
(v) klear (paid)
One of the statements of the speaker was-Evolving business models that are challenged at best, obsolete at worst.
Now we need to approach the customers. How have you been doing it? This way!!
Help – Commit and execute special CSR activities- contribute to PM cares fund, donate food for homeless etc.
Consider the example of McDonalds (by speaker)
Inform – Run special campaigns to educate people on safety and also how safe will your services be for them.
Entertain – Use digital platforms to keep them engaged and entertained.
Connect – Maintain connections with audience through the brand by weekly connectivity activities – webinars, tweetchats etc.
Example given by speaker:
How should you communicate to the customers:
The 1:10:100 model.
Last Important thing according to the speaker is about the emotion of communication. The world is in the dark of covid. People are scared of going out, of germs, of virus etc. The brand communications should actively encourage the hope of being safe acting as a ray of light. Basically as the torch bearers!!!!!Felt the things interesting. Didn’t you?
More About BRATS:
BRATS – Brands Research Advertising Technology Strategies – is the largest platform blending Industry with Education to work hand in hand to embellish industry levels by enlightening the education industry, leading to tapping of relevant talent and help in preparing an employment ready workforce.
This Webinar happened through BRATS platform. To Watch this Webinar, Please Click on thislink https://www.youtube.com/watch?v=fa0yiq6hqkQTo attend more webinars please visit https://courses.brats.co.in/. The webinars are completely free for students.
To get connected with the BRATS platform, join this whatsapp group- https://chat.whatsapp.com/JZiHanU6OzB3CXvYbStXfE . Click on it to get in.
More about the speaker:
Abhishank Babbar helps in rolling out Integrated Marketing Campaigns for brands and clients, acting as Strategy Counsel for his clients, Growing New Businesses, and also helps in Employee Advocacy Programme. He also teaches as a guest lecturer at IIFT, SIBM-H, IIM-Kasipur, Manipal University, etc.
BLOG POST BY:ASHWAN KUMAR RACHAKONDA,
STUDENT IN S.V.N.I.T.