Companies are faced with the need to define themselves, their stance, brand equity, and use this knowledge to survive in the current economic scenario.
Both established and start-up companies are looking for ways to build equity in the current market. The pandemic has changed the marketing strategies adopted by both B2B and B2C organizations and these new ideas will depend on the organization’s products, offered services, and the industry they operate in.
CMOs are now uncertain about which marketing and sales strategies to move forward with. Some have stated that it may be more prudent to hit the “pause” button for a while to avoid possibly hurting the brand equity in the long run.
While CMOs cannot have full control of their brand equity, public opinion is in control but steps can be taken to boost the image and create a stage for the building on it.
The following strategies could play a significant role in building brand equity
Agile marketing techniques could make a difference
In the current era of BLM, COVID-19 and generic slowdown it’s imperative to embrace agile
marketing methods. It provides the organization with a fluid path to marketing in this fast-paced world. Agile marketing adoption will help a CMO to speed up the marketing process, brand equity, and shorter process timeframe in general making lengthy business decisions meetings redundant.
Also Read: Agile Marketing-The Magic Mantra for Successful Marketers
The “Eighty percent” rule of agile marketing allows team to implement measures, complete them, and then retrace steps to optimize it. It’s a disciplined approach that an experienced leader with a global view, who gives importance to brand equity and voice, can implement with years of experience and education.
Adopt content in line with new trends
All content that reflects the organization will help to build brand equity, including, commercials, podcasts, email newsletters, and videos. Clients tend to conduct business with firms that meet their requirements and share mutual value. Respect and trust are valuable trusts.
Also Read: Global CPaaS Market to Touch $25 Billion by 2025
Attention to perception and presence
A smart CMO, would pay attention to marketing above the budget, completely utilizing the
communication platforms available. It is necessary to be present in all places that matter. The necessity doesn’t lie in being everything to everybody but rather perceiving the customer’s through a lens of empathy and sympathy. The same applies to the teams and employees as well. This is a time to recognize their efforts, pain, fears, and struggles and work to motivate them to move beyond it.
