Purpose-Driven Brands Need to Change Their Marketing Approach after COVID-19
It is a fact that we are facing a tough year and situation. We are in critical times now and hoping for the best. Budgets and plans have been shattered. The purchasing power of the consumer is totally changed, and everyone is focusing on survival. The world is entirely changed, not for the brands but also for the consumers. Before the outbreak of COVID-19, several businesses were on the top, but after the pandemic, every brand is struggling due to lockdown and changing consumer behavior. Companies slowed down their operation, and brands are closed. It is the right time to show your loyalty to those brands that offer you high-quality products and services. They need your support and loyalty. After the pandemic, brands need to create a purpose-driven Marketing Approach to gain back the customer’s trust and loyalty. It is a renaissance of brand marketing, and brands should focus on a purpose-driven marketing approach for achieving the target.
Purpose vs. Purpose-Driven Marketing Approach:
Brands are struggling in terms of profit and revenue, especially at this time. Various brands always talked about putting the consumer first and dealing with severe profit issues and blurred in their working. You can’t blame these brands for not giving discounts and sales. High-quality products deserve the price. Several brands are still offering value and trust to their consumers.
Moreover, COVID-19 has put us in a social dilemma. If you are selling a product without any purpose, then what are you doing? If you have some value and purpose in your offerings and services, then the survival chances are really high for you. But in the end, nothing really matters if you are not clear in your offerings and products. You should think about the Purpose-Driven Marketing Approach.
Company Lifetime Value:
Before the pandemic, brands focus on the one thing that they can get from the consumer. But now, they have concentrated a real marketing approach on serving consumers to retain their consumer base and trust. COVID-19 has affected every brand and business. Survival of the fittest is a crucial factor in the whole process. Create solid relationships with users for a lifetime value. If you provide the best offerings and products to your consumers in this tough time, they will focus only on your brand after the pandemic ends. They will choose those brands that made served them in the time of crisis. So, loyalty and trust really matter in this challenging time.
But, Will We Consider It?
It is a natural question that comes to every marketer’s mind that their consumers will remember them or not after the pandemic. The answer is yes if you have the Purpose-Driven Marketing Approach. If you provide high-quality products and services to your consumers, they will surely pay back. When the lockdown is completely over and the brands started functioning again, you will get amazing responses from the customers you served in the crisis. They appreciate your hard work and support after the pandemic by considering your brand for purchasing products. It gives lifetime value to your brand.
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