Under the pandemic, the market is gloomy and stagnant. How can a brand keep its benefit in such an unfavorable situation? Adversity is a good chance for the company to reorganize, and to advance its business. It is also a good time to look for collaboration.

Right now, it would be better to take hold of the present. Reconsider the business model and the operation strategy of the company. For example, how would the same type of business be operated in a foreign country? Is the current operating model in its best condition? Many physical stores and physical sales have failed to continue operating, nor have physical events been held. It drives us to ponder toward the unique status of the physical business model. What’s more, people used to be very busy with their own business, not having the time to start a real collaboration. Wouldn’t it be the right time to consider the possibility of collaboration now? All the above examples are worthy of contemplating at this moment.

Also, it would be beneficial if you try to change your way of thinking. Rather than focusing solely on the situation of the pandemic, nor the decline in business. It’s better to rearrange the mindset and focus on the seizable parts. Make the necessary changes while waiting for the situation to improve. Brands can strengthen their management on some items and details that have not been dealt with in the past. For example, taking good care of their websites, defining their brand elements, and shaping the brand persona.

Another important thing to do is to learn more. Since many websites have released free online courses, you can try and start with it. Imagine that after three months, you will be achieving a new level of knowledge. It’s because you grasp the time and put your effort into strengthening your skills. Thus, it’s a great time to prepare for your future development at the moment.

Not long ago, I hosted a webinar. It’s Online Brand Marketing Strategy in a Gloomy Market. There were over three hundred participants. After the webinar, I also presented a 7-day Action email to the participants. It’s to remind them of the important things to do each day. Learning something new is one of the challenges. If you are interested in this webinar, please visit berniewo.ng/marketingtalk. I hope that it might encourage you a bit and help to strengthen your brand marketing strategy.

Source: https://www.visiongo.hsbc.com.hk/en/article/brand-benefits-under-a-gloomy-market

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