Employ contribution marketing to build brand equity and goodwill in turbulent times

New Ideas in MarketingEssential news for marketers, summarised by YouGov
April 14, 2020, 1:04 AM UTC

Marketers should ensure their contribution marketing efforts are “completely new and unprecedented.”

This article states that brands should leverage contribution marketing, which entails offering products or services that satisfy the immediate needs of consumers in crises. Brick-and-mortar stores like fitness studios could serve consumers online to contribute to the requirements of customers and build brand equity.

Companies should offer unique and new solutions to customers that can help them in these times, rather than offering the same discounts and services. Before implementing contribution marketing businesses should assess if their products or services fill in the immediate void and support consumers.

Businesses shouldn’t capitalise by using “COVID-19” in their campaigns if it’s completely unrelated, for it could be seen as click-baiting. The author contends contribution marketing can help brands gain free exposure and build goodwill in the long run.

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