The 4 mistakes in marketing strategy that brands often make in times of crisis
What should brands and companies do during a crisis and how should they adjust their marketing strategy? It could be said that this is almost the million dollar question, especially considering that, right now, companies are facing the latest shocks of the coronavirus crisis and are being affected by not being very clear on what it is. what will happen in the immediate future. They must make crucial decisions, which at the same time are very complicated, but without knowing very well what to use as criteria for it.
Therefore, it is more important than ever not to make mistakes and not to get carried away by the elements that work as a drag on your marketing strategy in times of crisis.
In an analysis by Raja Rajamannar, Mastercard’s global CMO, who publishes Campaign, the manager identifies four of the most common mistakes that brands make in marketing strategy in times of crisis. Avoiding them can help you get through any difficult time better.
Make cuts in the marketing team
It is the first of the mistakes that a company can make in times of crisis, at least in this list. The manager explains that, from the outset, it should be kept in mind that the crisis affects everyone, including employees. But it is also not only a matter of solidarity, but also of company strategy.
The company has been doing a job of building the best marketing team possible and training and preparing these workers. The cuts cause these resources to be lost and also forces starting from scratch once personnel are re-signed (and considering that training the staff of the marketing team takes about two years, says the manager, it is a time that no company that wants to recover from a crisis can afford it).
Be like everyone else
The problems are not only in how the team is managed, but also in the marketing strategy itself. Companies can make many mistakes in this area and one of them is that of staying in a position that is too similar to the one that everyone else is occupying. It is what he calls getting lost in “the sea of all equals”.
Brands use messages that are too similar to what others are using, stand out little or nothing and become one of many. And if before it was very important to position yourself in a differentiated way, now it is more so because the stakes are much higher.
Bet on silence
It was what many brands did during the coronavirus crisis. Given the complicated situation, they directly aborted all marketing and advertising campaigns. But is it the best of ideas? The Mastercard CMO notes that “silencing your brand is a marketing trap that is very easy to fall into and difficult to get out of” in complex times. If situations are complicated, it is often difficult for brands to assume what to do and how.
But the truth is that, to stay connected with consumers, silence does not work. Brands need to take positions and accompany consumers in these times. And, as the manager points out, when the consumer feels like you’ve been there in tough times, it’s likely to stay in good times.
Leave the consumer for last
In times of crisis it is not strange that the reaction is to worry first about one and then about the others. In the language of the companies, it would mean working before a shield of the company and then worrying about ‘everything else’.
This means that the consumer and his problems remain until the end, which may work in the short term but involves mortgaging the company’s position in the long term. Consumers want businesses that are humane, close, and have cared about them and their problems.