Shifting values and needs due to COVID-19 are influencing consumer decisions as all area of our life continue to be impacted, some more significantly than others. 9/11 resulted in an increased focus on safety, and 2008 deeply affected people’s financial stability and outlook. The impact of COVID-19 is still being played out in how dramatically consumers will change their ongoing attitudes and behaviors.
Some things we know are priority needs during this time include having signs of disinfection, cleanliness, and safe practices evident to keep consumers engaged with brand. Consumers are also expecting brands to play more of a role in solving complex societal problems around climate change, social justice, inequality and access to health. They want signs that companies care, and are willing vote with their dollars, especially Millennials and Gen Zers.
Consumers are also expecting brands to play more of a role in solving complex societal problems around climate change, social justice, inequality and access to health. They want signs that companies care, and are willing vote with their dollars, especially Millennials and Gen Zers.”
Since the economic, social, and cultural context is changing so dramatically and rapidly, it’s of the utmost importance that brands continue to check in with their customers to keep ahead of changing priorities and adjust strategies where needed.
Here are some of the strategic areas and questions that your brand will want to visit and revisit in the coming months, and likely throughout most of 2021:
1. Brand Positioning
Is your brand speaking to consumer priorities, are you providing benefits that are relevant to their lives?
2. Price Optimization
Are your products priced competitively, do you have options that consumers feel provide value, and are you maximizing revenue potential?
3. Product Optimization
Do you have the right set of products that meet consumer needs today? Should you reduce or add SKU’s to ensure you have the right portfolio to meet consumer needs?
4. Customer Journey
How has the buying process for your brand changed, and are you connecting with consumers using the right touchpoints and messages at key moments?
Are you positioned well to be competitive in any channel, and how are you coordinating the buying process across channels?
6. Voice Activated Discoveries
As more consumers use Voice Activated devices and technologies, how are they able to find and engage with your brand?
7. Innovation Pipeline
Is your pipeline designed to meet new consumer realities? Do you need to quickly move new products into your pipeline to better meet demand?
8. Value Proposition
How is your brand positioned against today’s financially constrained consumers? How are they evaluating the price/value equation for your brand, and what can you do to ensure they see your brand as the best choice for the money?
9. Brand’s Social Good
How do consumers perceive your brand, and what would they like to see you do to help promote a positive, healthy society? Are you clear on which social and environmental areas your customers would like to see your company support? What are the tactical ways that consumers would like to see you bring your values to life in your brands?
10. Customer Experience and Service
How can you enhance these areas to address increased stress and fear among customers? Are you using the right channels to make it easy for consumers can connect with you, and if not, in what ways can you improve?
Since the economic, social, and cultural context is changing so dramatically and rapidly, it’s of the utmost importance that brands continue to check in with their customers to keep ahead of changing priorities and adjust strategies where needed.”
Want to discuss more about how to check in with your customers on these brand issues?