What Consumers Expect from Companies During the COVID-19 Crisis
Since the start of the Coronavirus, life for customers and companies has rapidly changed as uncertainty looms. For marketing officers, the essential question is:
What is the right marketing strategy during a crisis like COVID-19?
David Nabarro, Special Envoy for COVID-19 for the World Health Organization (WHO) stated, “Brands must strive to be authentic, accountable, and audacious in their communications.”
It is important for companies to understand that their current tone is likely at a disequilibrium to their customers if they have not yet adjusted their communication strategies.
This unprecedented time serves as an opportunity for companies to prioritize customer relationships which they can leverage to mobilize action once business ‘returns as usual.’ It is very important that brands not be too lighthearted or too humorous during this time.
Edelman, a global communications firm conducted a survey consisting of 12,000 consumers throughout 12 different countries including the US. From this survey, the following information has been extracted:
63% of respondents believe their country will not make it through the pandemic without brands playing a critical role in addressing current challenges; this could be subject to their ability to respond relatively quicker than the government.
90% of respondents believe brands should be willing to suffer significant financial losses to ensure the well-being of society at large, and 71% of those consumers promised to forever trust brands who place people before profit at this time.
While some companies are taking quick initiative, “Nearly a quarter of brands have gone dark, pausing their paid marketing communications for the first and second quarter of the year.” These decisions are likely driven by the fear of being offensive, off-target, and/or inappropriately taking advantage of revenue opportunities.
So, how can and should companies be helping society while protecting their brand?
Educate the public with reliable information that instructs people about the crisis, how to fight against it, and the progress being made to fight against it. Especially with the circulation of fake news, it is crucial to be providing people with the resources they need to get through this pandemic.
Offer different pricing techniques to help people make their ends meet during this time.
Shift resources to provide goods needed to fight the crisis such as masks.
Unite and bring people together with your content.
Consumers do want to hear from brands they trust during this time as they turn to them for information.
While this is a challenging time for many marketers, it is an opportunity for brands to stand out and remain memorable to generate long-term revenue.