As CEO's and CFO's look to establish even tighter fiscal control it will come as no surprise that marketing are not going to see the budgets they enjoyed pre-covid, which obviously is good for the bean counters and business survival but at what cost to the business revenues?
This is certainly a double edged sword for leadership teams that are looking to kick start revenues with less in the tank so to speak - creativity from your CFO has never been needed greater than today!.
So, just what is a brand to do, especially as advertising budgets and related marketing and agency resource are already decimated due to this crisis and any cash is being used to prop up the company for a little time longer?
Today we can access and consume content anywhere, anytime, and on any device.
Consumer behavior and expectations have changed, and organisations must evolve to meet the changing needs of their customers. Those that don't adjust the business mindset are now paying a hefty price for 'business as usual'.
Today's socially savvy prospects and customers are checking out your 'social proof' as part of the 'trust' building process, not your website.
Many companies rely solely on their marketing teams to create content. However the most successful content marketing campaigns require a team effort.
From managers and quality analysts to technical support and sales teams, getting the entire organisation to contribute to content has many benefits.
Who better to tell a company’s story than its employees? Team members are far more capable than any external marketing agency.
When team members generate content, they themselves become the face of the company, and consumers often find it easier to relate to a real person than a company entity.
Your brand in the 'physical retail' world is experienced not only via your shop window, logo, or product but through your store teams.
It's them that consumers turn to to ask questions, it's them they turn to when they experience good/bad with your brand.
But as we all know the biggest challenge is how to help to reassure consumers to get back out and shop with you - and this creates a huge opportunity for all retailers today.
We know that prior to this crisis e-commerce led to fewer people coming to our physical stores. All the evidence is there to support the reality that Covid has tipped those already weak retailers into the retail archives.
"To ensure customers visit retail establishments in the future–and that’s now measured in weeks for some, months not years for others – the retail experience must be structured around the human component".
Critical to this is authentic communication.
The first step is to get back to the basics of delivering on the customer’s wants and needs, building trust, and demonstrating that our appreciation of the individual shopper goes beyond the sum and substance of his/her transactions.
If your company, and your job as a leader is still around post crisis how about investing in upskilling your employees to use social media as way of really providing an authentic voice, rather than the corporate message.
Take a moment to consider the following industry stats; Less than 2% of Employees regularly share or create employer related brand content. Over 33% of Employees are unclear on what to post and how it could benefit their employer. There is a 561% increase in audience for your brand message when shared by employees vs sharing via the corporate channel. 90% of your employee network is new to your brand meaning you are opening up previously untapped audiences.