The COVID-19 pandemic has had an unprecedented impact on the B2C world.
In many industries, business has come to a screeching halt – or, at the very least, slowed to a crawl.
Still, many other industries have been able to maintain some sense of normalcy. In fact, some brands have actually experienced growth during the shutdown.
On some level, the fluctuations we’re seeing have to do with consumers reevaluating the way they spend their money. In such uncertain times, we’re likely to see the average consumer start focusing more on their immediate and future needs – while putting the things they want on the backburner for the time being.
But this isn’t necessarily true for all industries. Case in point, Naked Wines – a UK-based wine delivery service has seen a major uptick in business since the shutdown began.
(I mean, I guess we can consider wine a need in these trying times, right?)
All kidding aside, the point is that consumers have definitely become more conscious of how they’re spending their money. Whether this bodes well (or not-so-well) for your brand, it’s certainly causing for you to reexamine what it is you hope to bring to the lives of your customers.
3 Key Lessons All Brands Can Learn from the Coronavirus Shutdown
No matter if business is booming or coming to a stop for your company, there are three universal truths we can all learn from the current global crisis.
A Need for True Authenticity
We’ve talked before about the negative impact being faux customer-centric can have on a brand’s overall image.
Still, in the spirit of being honest, many brands will have to admit that they haven’t exactly walked the walk as far as true authenticity goes. Simply put: those feel-good ads and stories don’t mean all that much unless they’re backed up by action.
(To be sure, the average consumer is starting to catch on to all this. As a 2019 report from Edelman shows, 41% of consumers don’t believe or expect branded messages to be accurate or truthful.)
With the world slowing down as it has, consumers have also slowed down and begun thinking a bit deeper about the brands they do business with. In an update to last year’s report, Edelmen also found that “71 percent (of consumers) agree that if they perceive that a brand is putting profit over people, they will lose trust in that brand forever.”
Even billionaire entrepreneur, Mark Cuban, has gone on record saying that the way companies act during this crisis will “define their brands for decades.”
So, while being “inauthentically authentic” was never a good plan to begin with, doing so during a global pandemic could cause your target audience to turn their back on your brand for good.
Now’s the time for brands to step up and be the socially responsible companies they’ve always claimed to be.
Period.
(Take a look at how H&M is doing just that across the board.)
Put the Salesy-ness On Hold
Whether your customers are still buying or not (and even if they’re buying more than ever), you’ll want to dial back a bit on your more salesy campaigns for the time being.
This goes back to what we just said about true authenticity—and about the modern consumer’s ability to sniff out inauthenticity immediately:
If your feel-good, “we’re all in this together”-type ad ends with a clear call for your audience to buy from your company, you’re doing it wrong.
(Note: Whether Toyota, specifically, is guilty of using this tactic is besides the point. The point is that the general public is seeing right through these faux feel-good ads more than ever.)
Even in cases where you’re providing discounts or otherwise looking to give your customers an objectively good deal on your products, taking the typical approach to such promos just isn’t appropriate.
(Just imagine how an ad showcasing an “everything must go Coronavirus clearance sale” would be received right about now. Not a good look, right?)
Now, this isn’t to say you should avoid selling altogether; if your customers want to buy from you, you should absolutely allow it to happen.
But you don’t want them to feel forced to make a purchase in any way whatsoever.
If they want to buy from you – and they have the capacity to do so – they will. If they don’t want to, or if they literally can’t, making them feel worse about it just isn’t going to reflect well on your brand.
Give Now, Earn Later
So, if you shouldn’t be selling right now, what should you be doing?
Giving, of course.
There’s no limit, here: You should be giving whatever your business possibly can, and however it possibly can, to ensure your target audience (and the global community) makes it through this crisis.
(Again, companies like H&M and others have really stepped up to the plate in this regard.)
Even if your brand doesn’t offer anything “essential,” per se, you can still give back to your community in a number of ways. Canva, for example, has created and curated a collection of informational content to help spread awareness about Coronavirus safety.
Every company on this planet can do something to help the current situation.
Whether you’re getting something in return is a moot point; if we don’t get through this, it won’t matter if you’ve gotten anything back, anyway.
That said, when we do get through this, your target audience is going to remember what you did to help us get there. If your brand stands out as a leader during these uncertain times, your audience is bound to stay loyal to you for some time to come.
(Note: This is not to say that you should give now with the expectation of generating major returns in the future. Still, if you don’t lend a hand as needed today, you won’t have much to look forward to tomorrow.)
Is Your Brand Still in Demand?
If the products or services you offer are still in demand, you certainly don’t want to miss out on the opportunity to keep things moving in the right direction.
But there’s a difference between “keeping things moving in the right direction” and “taking advantage of a global crisis.”
And you need to be absolutely certain that you land on the right side of that line.
Offer Discounts that Matter
Though we said your campaigns shouldn’t be “salesy,” you can still use them to sell to consumers who actively want to buy from you.
Even still, you’ll likely want to sweeten the deal with discounts and other deals that actually matter to your audience.
For example, TOMS created a Facebook Ad campaign targeting individuals working from home – and offered them a massive 25% discount on slippers and other comfortable footwear:
Pay It Forward
Finally, if your business is still operational (and potentially thriving), you should be giving as much as you can back to the global community.
Whether this means donating a percentage of your proceeds, making scheduled donations, or delivering products free of charge to those most in need, there is definitely something you can be doing to help out.
Of course, this will help shed positive light on your brand in the eyes of your audience.
What’s more, it will allow your customers to do their part, as well. You couldn’t be so giving if it weren’t for their continued business, right?
Point blank: If you’re making money right now, you’re doing better than most other businesses currently are. Pay it forward, and make sure those who support you know how much they (and the global community) mean to your company.
Does Your Brand Need to Change Course?
If your company has been negatively affected by the COVID-19 shutdown, well…you’re definitely not alone.
Still, that isn’t much consolation if you aren’t bringing in enough business to make ends meet.
The reality is, you may need to rethink what it is you bring to the table—and how you can continue to provide value to your audience during these difficult times.
Revisit Your Purpose
It’s common advice in the world of copywriting to focus on the benefits of your product rather than its features.
Now’s the time to apply this to your brand, overall.
Think back to when you were just getting your company off the ground.
Ask yourself:
- What motivated you to create the products or services you developed?
- What did you aim to accomplish by creating them?
- Why was it important for you to do so?
Now, think about how things have changed due to the shutdown.
Perhaps the need for your products or services has diminished. Maybe people will be using your products in different ways. Or, maybe your team’s talents could be used to create something new that’s needed more at the present moment.
Again:
There has to be something your brand can provide the world to help us all get through this. Figure out what that is – and get ready to bring it to life.
Revise Your Personas
Another thing to consider is whether a different audience will be more receptive to your products or services than your current customer base is.
Now, this isn’t to say that you should stop serving your current audience. But, if these individuals literally can’t buy from you for the time being, you might do well to find customers who can.
(This in addition to providing value to your current audience as best you can.)
So, as you tweak (and possibly revamp) your products and services to meet your current audience’s needs, think about how other consumers might be able to use them, as well.
Figure this out, and you may actually be able to expand your audience while your competitors are left wondering how they’re ever going to survive the current situation.
Look to the Future
Honestly, no one really knows for sure what the future is going to look like.
We don’t know if things are going to go “back to normal,” or if there will be some sort of “new normal” once the coronavirus threat dies down.
That said, the changes you make to your products or services, and to your brand’s overall approach, should not just be temporary.
Rather, you should constantly be evolving your brand (and its products/services) into something new and valuable that fits into the lives of your target audience – both now and in the future.
We don’t know what the world will look like when the shutdown ends.
But we can say with confidence that, if your company offers something that provides value to the world at large, you should have no problem weathering this storm – or any other storm that may come our way.