Businesses will need to show agility and patience to navigate during the current coronavirus (COVID-19) crisis
Marketers are finding it challenging to plan for revenue in the coming months, given the uncertain economic conditions.. Marketers can stay ahead of competition only by making insightful, agile decisions in the months to come. With the crisis nowhere near over, this may pose a big challenge- one that CMOs cannot afford to lose.
Why do Marketers Fail to Utilize the Full Potential of Their Martech Stack?
It is important for enterprises to maintain seamless and continuous communication with customers. If they are preparing for a new product launch for Q2, it is better to plan for its launch with an eye on the direction the market is taking. Proper planning on its brand placement will indicate to the customers that the business is stable. Consistent in communication during challenging times is critical for the business.
Adopt new strategies to execute planned campaigns as it clearly indicates a robust business presence, even during the downturn. But even after that, businesses will need to come up with new strategies according to the prevailing environment. New tools for collaboration and delivery will need to be adopted, to reduce the discomfort of working remotely, and the ability to adapt them, adapt to them and leverage them for better marketing will define the winner.
The new normal will be remote and the new strength will be a companies’ ability to create opportunities and build connections with key audiences virtually by setting up podcasts and panel discussions by experts.
How The Pandemic will Change CMO Strategies – Who Moved Their Cheese???
Organizations need to invest in team relationships, especially in times like these. It is critical to maintain employee trust and focus on the company’s credibility during turbulent times. Be transparent with employees and customers, and take measures to increase the bonding. Map out a couple of programs the marketing team will be launching in the coming months, to motivate the teams and inspire other departments. This will help in setting up an example for proactive teamwork to drive through the challenging times. Focus on strengthening customer relationships by being proactive. A couple of ways in which marketers can help their customers is by offering virtual wellness programs, golf lessons, or guest speakers on different topics. With these small but effective ways to connect, brands could l come out stronger post coronavirus pandemic.
