Coronavirus CMO Checklist

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As we’ve turned the calendar to another month of dealing with the uncertainty surrounding the COVID-19 pandemic, a lot of brands and agencies are wondering what’s next.  While many brands have pivoted to pandemic-related messaging (see a regularly updated list here,) most are taking a breath, and working hard to plan their next move(s.)

Believe it or not, this forced time-out can be an incredibly useful opportunity on many levels.  Whether you’re the CMO of a global brand that spends millions or an owner/manager of a small to medium-sized business that’s trying to edge out your competition on a regional level, this may be the best time to evaluate your brand and make structural moves to re-position it for success when the world wakes from its medically-induced commercial slumber.

Here’s a quick dos and don’ts checklist of items to consider while we’re all waiting for the refs to say it’s time to get back in the game:

ON POSITIONING

DO reinforce your strategic position, whatever it might be. If you’re the low-cost leader, then now is the time to forage for ways to maintain and even strengthen that position, perhaps by having new discussions with suppliers and distribution agents.  More importantly, if you don’t have a strategic position (or perhaps don’t know exactly what yours is,) you’ve now been given the gift of several weeks and even months to figure one out.  Huddle with your team – or better yet, a consultant or agency – and learn how to articulate who you really are in ways maybe you haven’t before.

DON’T waver.  If you do have a position and it helps the consumer/customer understand what makes you different, do not veer from your course.  You might hear of brands trying to “strategically pivot” into new areas and try to replicate what competitors do in an effort to grab short-term revenue gains or “narrow their gap.”  We’ll probably see a LOT of price manipulation once the markets begin to wake as competition for consumer attention will spike – but don’t be tempted.  If your position is built on quality, or prestige, or speed, or technology, or safety, or any other attribute that you can effectively “own” in the mind of the market, stay the course.  The consumer segment that desires your position will be more motivated than ever to seek it out when this is all over.

ON STAYING IN TOUCH

DO stay in touch with consumers/customers and stakeholders of all kinds. Be a friend in some way.  Be a lifeline if you can.  One of the most compelling aspects of this pandemic is the psychological toll it’s taking on people from all walks of life.  Routines are disrupted.  Rituals interrupted.  And we cannot forget that brands represent constancy and normalcy for so many Americans – perhaps the only two commodities that are in shorter supply than toilet paper. As long as your brand is reminding consumers that you’re still there, and will continue to be there to support them with what they expect of you, you should come out of this national hibernation in pretty good shape.

DON’T brag.  Even if you’re doing the most amazing things right now in your community or in your industry, no one wants to hear how great you are.  Do what you can to serve in this crucial time, but do those things quietly and let the results speak for themselves. Grandstanding is not a good look in a crisis.

ON ADVERTISING AND STAYING VISIBLE

DO advertise if it makes sense and you have something valuable to say. In my last post, I advocated strongly for advertising, and provided several reasons why it’s more important than ever.  I continue to recommend that you stay visible and adjust your messaging to take the current consumer environment into account.

DON’T disappear.  Find ways to stay relevant, even if you’re conserving major expenditures (like media costs.) This is a great time to get more social, expand or enhance your app, send timely email updates and so on.  AND DEFINITELY DO NOT use your advertising presence to take shots at competitors.  You should notice that there’s no “feuding” going on now, even among the largest brands.  No cola wars.  No chicken sandwich smackdowns.  Competitive advertising in the current climate is not only a waste of valuable ad dollars, it’s in poor taste. Consumers are paying rapt attention right now, so behave with your brand as though momma was watching you.  ‘Cause she kinda is.

ON PLAYING THE LONG GAME

DO be prepared (financially and otherwise,) to ride this situation out well into 2021.  It’s clear that some brands will falter during this time as consumers are also re-evaluating their priorities and allegiances.  Staying true to your brand ethos (and reinforcing/refining your position, see above,) can a.) cement the relationships you’ve already worked so hard to forge and b.) make you look darn attractive to those defecting from other brands.

DON’T rush your expectations.  Although confidence is virtually nonexistent at the moment, consumer motivation will be high and will likely surge for many months as the commercial rebound begins.  Expect a tentative but large wave of consumers re-entering the market with fresh perspectives and open minds.  Rushing to grab profits and short-term gains (in an attempt to recoup some recent losses) may preclude your brand from the much more substantial rewards of sustained success and new fans.

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