Page 136 - Mousumi
P. 136
Weaver Monomousumi.com
distancing, the delivery of goods and The structure of investment in
services is a big challenge for marketing communication is also
marketers. Moreover, the review going to change drastically. Earlier
claims that approximately 86 percent brands used to invest in trade shows,
of surveyed consumers regard their live events in order to promote
brands as an essential safety net which brands but with the pandemic
is proactively ready to help the outbreak, the marketing
affected people. This implies that communication strategies are going to
consumers are seeking credibility transform as the online channels
from the brands that they are ready to would be highly preferred. Investing
play a vital role in fighting against the in virtual events such as Webinars,
pandemic even if it results in huge Social media and video streaming
financial losses. would help in restructuring the plan
to reach the target market.
The next big challenge for the brand
is the churn rate or brand switching During this pandemic, consumer
due to inefficient customer service. engagement is also a challenge for the
According to Harvard Business brands. Consumer engagement refers
review (2020), For instance, the to a company's or brand's efforts to
difficult interactions with customers build relationships with consumers
on call had only a 6% chance of through online and offline
resulting in sales as compared with a touchpoints so that consumers can
more than 80% chance that an easy become the brand evangelists. As
interaction would. This implies that mentioned earlier, personalised
responding to customers on call has interaction with customers is not
been more difficult than ever. possible in this situation which
somewhere is not good for brands.
According to Forbes (2020), another
challenge which the brands are facing STRATEGIES TO OVERCOME
is shifting the priorities and THE CHALLENGES
holistically transforming the strategies.
For example, the brands which There is a plethora of strategies which
planned to organize or attend trade brands can adopt in order to
shows, conferences, or other events in overcome the challenges of COVID-
19.
order to reach the target market, are
now constantly changing their Engage in humanitarian and
strategies from physical events to ethical practices:The consumers
virtual events. This poses a great often regard those brands as valuable
challenge specifically forsmall brands and credible which are engaged in
which lack financialstrength and it is ethical practices. During the situation
also quite possible that training is of lockdown, the brand must show
required to train the employees to go humanity towards employees by not
digital, again it’s a cost bearing implementing layoffs. Rather, they
activity.
Page
135
