The global pandemic of 2020 forced individuals and companies to adopt different ways of settling into the ‘new normal’ of conducting business operations. Companies are trying their best to respond effectively to this crisis. From grappling with supply-chain disruptions to ensuring customer safety and adjusting to new work-place policies, they are doing a lot.
As employee and customer interaction decreases, customer valuation takes a whole new meaning. Many global brands and companies have seized this opportunity to strengthen ties with their customers by showing communal support and empathy.
No matter what industry you’re operating in, an enhanced customer experience is what will make a brand stand out from its competitors. In fact, research shows that 86% of consumers will be willing to pay more for a quality customer experience! This means that brands need to rework and refine their strategies to enhance customer support and remain flexible during a crisis.
In a previous blog article, we shared 4 elements of branding that businesses typically lack in their branding strategies. These branding behaviors remain proven for keeping brands alive in these troubled times:
Lack of Flexibility
Instead of having an elaborate planning strategy, brands should instead focus on a “flexible” approach that allows them to make changes and adjust accordingly as times change.
As the global pandemic struck global economies, there was an immediate need to conduct operations virtually – a remote form of communication that has become a catalyst for business success. From the start of the pandemic, the luxury industry faced some dire consequences as the market for major luxury brands dropped by almost 40% at the end of March 2020.
As a quick strategy to remain afloat, brands like Gucci and Louis Vuitton expanded their perfume line into making hand sanitizers. Their openness to innovation helped many of these brands quickly realize that the only way to survive the crisis was to leave old ways behind and develop consistent new strategies.
Lack of Reinvention
There may come a time in your business when you observe your sales being stagnant. When this happens, it means it is time for reinventing your brand! Think about your brand offerings and why it matters to your consumers. Once you’re aware of your consumer offerings, you can reinvent your products and services accordingly.
For example, businesses that were forced to close their stores could shift to an e-commerce platform. If that wasn’t possible immediately, brands could target their customers where they have the most presence: on social media platforms!
Digital transformation has been at an all-time peak during the crisis as more brands than ever focus on website traffic, customer interaction, and data collection online.
Successful businesses show us the importance of reinventing KPI’s to focus on brand awareness and creating communal support groups. This is the way to show care for customers, health-care workers, and other small businesses while nicely cushioning your bottom line.
Lack of Branding
Your customers should remember your brand no matter the circumstances. However, many businesses found out that they didn’t have that kind of branding.
The best way for brands to create a lasting impression is to have a strong brand messaging. Consistent messaging and design across all mediums will help in developing your brand’s recognition on the market.
As an athletic brand that inspires people to play outdoors, Nike quickly re-evaluated its branding strategy to make it more appropriate to the pandemic. They emphasized the need to stay safe with their simple ‘Stay inside, play for the world’ tag-line that encourages people to unite to fight the pandemic.
While other athletic and sportswear brands continued to close their brick-and-mortar stores, Nike adopted a branding message that painted the brand in a positive light. As a result, they reaped the benefits with sustained profitability.
Keep Your Brand Alive with Signature Graphics
Covid-19 has forced companies all over the world to re-invent their branding strategies. As more consumers shift online, creating systems that cater to your online market and having a social media presence is what will keep your brand thriving.
Signature Graphics can provide you expert help in devising marketing strategies that will invigorate your brand by stimulating help, support, and positivity in your target audience. Contact a branding specialist today!