AP in the News: Don't Panic - Adapt to Strengthen Your Brand for a Recession
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Businesses are facing unprecedented disruption as the world reels from the impacts of the current health crisis. Leaders are pushed to make tough decisions as they look to survive a potentially lengthy downturn. But the companies that will find opportunities to come out of this situation even stronger will have one thing in common: they will use data to make long-term decisions rather than reacting to the immediate circumstance.
In our recent webinar, we leveraged nearly 2 decades of collected insights within our ROI Genome data to illustrate how companies should plan for the future in the present disruptive moment. Future-Proof Your Market Position: Rethinking Marketing Strategy in Turbulent Times covered the three main stages of market disruption: crisis, stabilization and revitalization, and how brands can tackle the challenge of each stage with an eye on better preparing themselves for tomorrow.
The Crisis Stage
The crisis stage brings high levels of uncertainty, with new information appearing weekly, daily or even hourly. It’s a time of high volatility, with extreme measures being taken. There are 4 key considerations to keep in mind during this stage:
The Stabilization Stage
This stage may come in waves and is characterized by an adjustment to “new norms”, slower pace of new information, and more knowns than unknowns. The stabilization stage comes with two critical points of leadership:
The Revitalization Stage
This stage is characterized by an ongoing period of movement toward economic recovery, and eventual economic vitality. Brands should be preparing for this stage even as they move through crisis and stabilization, and it’s important to consider that the revitalization stage may still go hand-in-hand with recovery challenges. In this stage, three things are critical:
When we come through this current crisis, we will likely see a world changed. By adapting and evolving through these stages, businesses can set themselves up to thrive.
To get a deeper dive into the stages discussed above, access a recording of the Future-Proof Your Market Position: Rethinking Marketing Strategy in Turbulent Times webinar here.
In this webinar, we take a deep dive into how brands should be planning, both in the present disruptive moment and for the future.Watch now