Identifying areas where they can cut down or increase the budgets can help brands survive the economic downturn.
With marketing budgets tightening and consumer needs evolving during the pandemic, marketers should find ways to serve the customer's current needs to foster long-term relationships. For instance, restaurants are offering ready-to-cook meal kits to overcome consumer concerns over infected food.
Organisations can conduct a periodic audit of their marketing efforts, based on factors like brand mentions and rankings, to identify consumer sentiment. It can help brands assess their current situation and develop strategies accordingly.
Analysing the shift in consumer needs, pain-points, buying power and mobility can help marketers create relevant campaigns during the uncertainty. But, businesses should maintain an empathetic tone in their marketing content as consumers may be hypersensitive due to pandemic-related stress.
[10 minute read]