Consumers Set a High Bar For Brand Winners in Next Phase of COVID Economy

As pockets of our global economy and Corporate America emerge from weeks of hibernation, brands are left to navigate a post-pandemic reality that bears little resemblance to the world we’ve left behind. Unemployment numbers are skyrocketing. Handshakes have been replaced by apps. For now, optimism has given way to uncertainty. But if there is one thing we as marketers have learned through historic hardship, it’s that brand leaders are born out of times like these. Opportunity always exists for those ready and willing to embrace it.

It requires the right playbook – but how do brands reengage with stakeholders when there truly is none? Whether enduring backlash from tone-deaf messaging, or “marketing” without the context of employee protection, cautionary tales abound, causing trepidation and immobilization for PR managers.

No brand wants to be the poster child for what not to do. It’s natural in this environment to want to hold back and wait for the “perfect time” to be proactive, but according to a new survey conducted by MWWPR, brands cannot afford to wait. Those well-positioned to perform in the next phase of economic rebound and beyond are acting now. Consumers are paying more attention than ever to brand messaging. They are dissecting every move companies make, and the winners from the losers will be determined – and remembered - long into the future. As many as 83 percent of consumers will align with brands based on the actions and responses of brand leaders during the pandemic. That’s a costly mistake for brands who don’t get it right, so it is even more crucial that those actions align with changing attitudes and behaviors, and what stakeholders value most today.

New Values, New Opportunity

Consumer values are shifting. The research clearly indicates that Covid-19 has had a profound impact on what matters most to them right now, and they are willing to base future purchase decisions on it. From the integrity of brand leadership (83%) and authenticity (68%) of messaging to how companies prioritize the welfare of its employees (84%), a new reputation bar has been set for brands to meet.

As brand authenticity and transparency become increasingly important, the lines are being further blurred between consumer PR, corporate reputation and issues management. Budget cuts are forcing them to find ways to do more with less, and dollars need to shift to strategies that are most effective in helping brands create value, own the conversations that matter to stakeholders and increase trust. Always critical but often previously considered “nice to haves” - crisis preparation, employee communications, executive visibility and corporate purpose - are now business imperatives key to helping brands come out stronger on the other side of this pandemic.

More than anywhere else, over 80 percent of people are putting their faith in the private sector to find solutions. This creates a unique opportunity for brands and their leaders to engage with consumers in new and meaningful ways. But they are more merciless than ever when it comes to who is worthy of the “good corporate citizen” badge, making authentic, purpose-driven campaigns more relevant and subjective. 73 percent of consumers expect executive leaders to be the voices behind corporate messaging during this time. Just because we are restricted to virtual interactions, that it is not an excuse for leaders to go dark. Brands are getting creative with video technology and social media to keep their thought leaders out in front as trusted authorities on key issues.  

And messaging inside of a company’s walls has also become paramount. Employee messaging and protocols, including everything from sick leave to employee safety measures are now being scrutinized and judged externally. COVID-19 has made policy the new PR, making transparency, frequency and consistency king in all internal communications.

Meeting Stakeholders Where They Are

The rules of engagement are completely different today. Thanks to weeks of social distancing, remote learning and working, Covid-19 has undoubtedly brought about sweeping changes to how we live, work and interact. Mobile workforces will become the norm, not the exception. Consumers have embraced new technologies and channels that enable virtual holidays and happy hours and 93 percent of consumers plan to continue well beyond quarantine. 

Brands need to be able to tap into new ways of engaging with a “creative on demand” approach that allows them to meet consumers where they are – emotionally, physically and virtually. The real challenge, however, is in anticipating needs and what’s important to consumers on creative and emotional levels because of how quickly things are changing. What is considered crucial today may be tomorrow’s afterthought. Extraordinary speed, nimbleness and precision is required to pivot communications on a dime, sometimes multiple times over. This makes the use of data and analytics, AI and predictive models to understand what and where conversations will happen an even more critical piece of the PR mix. We’re seeing just how much when it comes to issues management and crisis counsel, where every second counts, and there are no do-overs.

Consumers have spoken. They’ve given brands and marketers everywhere a path forward. The outcome will be determined based on how well we listen and respond … and the opportunity is here for those ready to take it.  

For more information, visit https://www.mww.com/covid-19-response/