Needless to say, this is a difficult and challenging time for marketers. According to McKinsey, marketing leaders will need to act across three stages:
- Resolve and resilience: Manage the now
McKinsey says marketers need to center on four actions: (a) Support customers, employees and suppliers (b) Empathize and understand customers (c) Build up cash reserves (d) Drive revenue response
- Return: Plan for the recovery
This stage includes: (a) Rethinking strategies and media plans (b) Winning the battle for brand awareness (c) Redefining loyalty
- Reimagination: Get ahead of the "net normal"
Reimagining the future involves: (a) Develop deeper insight and seek foresight (b) Start ideating now
More detail from McKinsey about these crucial stages here: https://www.mckinsey.com/business-functions/marketing-and-sales/our-insights/how-marketing-leaders-can-both-manage-the-coronavirus-crisis-and-plan-for-the-future?
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