Should you be marketing your brand even during the global coronavirus crisis? Brand expert Robert Passikoff has conducted research during other crises to determine the impact on brands and the results were encouraging. Writing for The Marketing Insider, Passikoff says "memory and history confirm that brands that continued to advertise during crises fared better than brands that cut their marketing budgets." He cites this example: "In the aftermath of the financial collapse of 2008 and the massive recession that followed, overall brand support dropped nearly 15%. Brands that increased their brand efforts saw sales grow upwards of 30%."
Writes Passikoff, "...brands that are able to meet consumer expectations and resonate with the values consumers actually revere will see long-term boosts in consumer engagement, loyalty, sales, market share, and profits. That means brands need to adapt. That means brands need to identify new strategies to accommodate a vastly changed marketplace."
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