Chief Marketing Officer, Infosys . Sharing how to balance the science of marketing effectiveness with the art of humanizing the brand.

The past year, as the health crisis upended businesses, we saw markets struggle and consumers reach for their wallet less in many industries. 

 

Many businesses responded by tightening their own belts, and that often included cutting back on marketing spend. In my opinion, the notion that strategic marketing spends are expendable in a downturn is not just flawed but also damaging in the long run. When brands go out of sight and promote themselves less, they also move away from top-of-mind position, which may erode their relevance with customers and makes recovery harder — even when markets improve. 

As we marketers prepare for recovery, the top factors I invite marketing leaders to consider in 2021 are based on an unambiguous three-point agenda:

1. BE ROI (RETURN ON INVESTMENT) CENTRIC

We’ve all heard this John Wanamaker quote often: “Half the money I spend on advertising is wasted; the trouble is I don't know which half.”

Tracking ROI using a best-in-class marketing technology stack, and using it to support the groundwork of gaining clarity on measures and metrics, can prove invaluable for a recovery-focused organization. 

Equally important is the need to establish a common language between marketing and other business stakeholders in order to articulate the value of these efforts. For example, an attempt to convince the CFO about the value of digital impressions and brand perception will almost certainly prove futile. However, if marketing can demonstrate the direct impact its efforts make — in empirical terms — on the top and bottom line, it likely won’t be long before the CFO acknowledges that value.

During a recession, customer behavior invariably changes. That change often gets a stronghold and lasts longer than the downturn. For example, in the world of B2B technology, business conferences and events to engage with clients, pitch capabilities and maneuver deals have traditionally been in-person, elaborate affairs. Marketers tailored the pitch content and the experience and managed these events. When the pandemic brought most international travel to a halt, these meetings and networking opportunities took on a virtual form. By becoming more ROI-centric, marketing as a function can better align with the rest of the business — both in reality and in the way it is perceived.

2. DIGITALIZE

Many people acknowledge that the path to recovery for businesses — of every kind — involves a rapid embrace of digital technology. Marketing should follow suit. This past year, as worldwide lockdowns threw a wrench into traditional marketing plans, many marketers were compelled to deepen their digital exploration and pack more power into their digital marketing work. 

For example, my company created a more effective, cross-departmental technology stack focused on collecting data and generating insights that our executives could act on. It makes sense to continue to build on digital initiatives such as these, as there is no turning the clock back when it comes to digital adoption. Our customers are already in the digital future, and we should get better at connecting with them there. But being digital alone is not enough. We should also evolve to become better listeners and be more empathetic and authentic in our communications. This brings me to the third salient point.

3. BE MORE HUMAN

In the early days of the pandemic, so many brands communicated in very personal and empathetic ways. This earned them significant goodwill, but it’s important that their actions in the past demonstrate alignment with their current position for this strategy to be effective. 

Many customers judge brands by the purpose they espouse. Any actions they take that contradict their claims can do enough long-term brand damage to wipe out any perceived immediate gain in attention. 

So, consumers should see more humanity from brands and more bold commitment to shared causes — but these efforts should always be backed with credible action.

At the heart of it all, marketers should now be listening posts for the business by monitoring indicators and trends around how the next normal unfolds. Then, they should find the right instruments to connect the business with its customers in the most effective way. 

Bài viết được chuyển ngữ bởi THƯƠNG HIỆU VŨ | BOUTIQUE BRANDING AGENCY

Nguồn: https://www.forbes.com/sites/forbescommunicationscouncil/2021/05/25/a-three-point-agenda-for-marketing-success-in-the-covid-19-era/?sh=4c4cc0a198a2