Half of the brands fail due to corona crisis
Half of U.S. marketers are dissatisfied with their brand communication during the COVID-19 pandemic. Many companies often struggle to «find their voice» during this time and to engage consumers in new ways, according to a survey by the agency Forsman & Bodenfors.
100 representatives of the US marketing industry took part in the survey. A quarter of them responded to the crisis, but felt "paralyzed" in the process and were unsure about how to proceed. Nine percent wished they had responded differently to the situation. Twelve percent did little public relations work during this time because they "didn't see a role for their brand in the world."
According to analysts at Forsman & Bodenfors, however, brands in particular can benefit from the coronavirus crisis. "Hard times are driving consumers to seek information and confidence through media content. Generation Z, in particular, is watching a lot more online video. Resilient brands that have something to say are now finding an attentive audience," the ad agency says.
Silence hurts brand
Saying something is of utmost importance, according to Forsman & Bodenfors, because silence in the coronavirus crisis hurts a brand. Analysts estimate that inactivity will reduce corporate revenues by eleven percent throughout 2020. The advertising agency advises marketers to define a real purpose and motivation for their brands so that customers take them seriously when they make a statement. In addition, transparency and the use of digital technology are also important at this time, it says. (pte)
