How Branding Can Help Businesses to Sustain in challenging Uncertain Markets

How Branding Can Help Businesses to Sustain in challenging Uncertain Markets

Businesses across industries are updating the marketing strategies, including messaging and materials, to reflect their latest empathetic branding approach.

As the market uncertainty goes on, the strength of a brand can actually be what makes or breaks a business. In this economic turmoil, customers are prioritizing their purchases list with buying less and saving more. The latest consumer spending trends are becoming more volatile than ever – with a vast variation in shopping habits in essential manners.

CMOs are, therefore, working in association with the team to design a convincing case study for the reluctant target audiences sticking with their brand. Ultimately, the messaging needs to reaffirm the resilience, presence, and strength of its brand, especially at a sensitive time.

Marketing leaders can help their brand to stay up and running ahead of their peers with distinctive strategies. This will keep consumers updated on how brands respond to the on-going crisis and why they can continue to trust it.

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Presenting Brand Strength 

The opportunities and challenges to create brand loyalty are becoming more acute in the stormy market. PepsiCo’s study indicated an imperative role that marketing can play amid the crisis period to help build empathy and lift spirits.

A time of global crisis presents scope for brands to reinforce their customer loyalty by sending the right message – at the right time! Simply put, the message demands to be the one that is relevant, helpful, and meaningful.

Currently, with a majority of people quarantining and working remotely, about 73% of consumers agreed that the upturn in messages from brands was appropriate – revealed a study by Mitto.

Furthermore, it was found that most people prefer hearing more from their preferred brands or certain prominent brands – compared to others. The same study indicated that most consumers are somewhat tired of pandemic-related brand messaging.

Building Customer Loyalty by Empathy

Brands are required to present themselves as more than a business – with empathy. It is a ‘time’ when the whole world is making adjustments, keeping their profit margin aside. And consumers in this digital era are keen to know what a brand is doing to make a difference!

Unsurprisingly, building customer loyalty is a key priority for brands. In its essence, more than 50% of the consumers are willing to spend on a brand to which they are loyal, as per Accenture.

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Organizations must align with the evolving customer emotion to earn loyalty – and being true to the messaging is a crucial step. Modern consumers respond fast and are keen on brands that share their ethics and show commitments towards social responsibility. A study by Yotpo indicated many consumers are gradually considering themselves loyal to “particular brands”.

Undoubtedly, brands need to update their marketing models to reflect the latest messaging trends. Bigger brands focus more on offering consumers consistency and certainty in every channel. As we advance, people are most likely to look for relevance, genuineness, and an unparalleled quality level in brands to gain trust.