Marketing in times of crisis: redefining the strategy

Marketing in times of crisis: redefining the strategy

The duration of the crisis is a question for most experts, however, almost all agree that there is a change of model in the way we understand capitalism and our lives.

With regard to the world of marketing, we believe that this is a good opportunity to focus our efforts on offering the best experience and maximum value to our customers.

In short, the basis of marketing well understood is empathy, the principle of reciprocity (*), which allows companies to adopt the point of view of their clients, only in this way we will be able to get their trust, an indispensable requirement for the long-term success of our organization.

If, in times of crisis, profitability is an essential aspect, we must not forget that this is a direct consequence of the decisions that your customers make in relation to your brand.

There is nothing more important for the financial health of your company in the long term than having a solid base of loyal customers. The five ideas that are included in this document are only some recommendations that go in this direction. We want them to be useful for your business.

(*) Reciprocity is a human norm that is found practically in all societies that have been analyzed. Thus, if you make an investment to offer a better service to your customers, they will be more motivated to return the favor with your loyalty.

“Probably now is a good time to rethink what is the role that marketing should play in our organization to both face the crisis, and to emerge reinforced after the negative cycle. ”

After a period of unprecedented economic growth, with the construction sector playing the leading role, companies face a new scenario marked by the economic crisis, and its uncertainty as to its depth and duration.

In a business culture where the achievement of short-term economic results prevails, reducing investment in marketing becomes a quick and simple solution. No doubt cutting the marketing budget can improve the short-term results account, but there is an evident risk of weakening our brand image and the relationship with our customers, something that would negatively affect the company’s profitability, its growth and its ability to compete.

As Don Peppers and Martha Rogers say in their recent book The Company in Motion: “the crisis of short-termism, the origin of all problems … the obsession of companies for short-term results is enormously destructive.”

We can not forget that in a context of excess supply to make our brand is the preferred one is a much more critical and complex than in times of economic bonanza.

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