This guest post is by Kirsty Maxey, CEO of Teamspirit.
We’ve all experienced change recently. Change to our daily routines, personal lives and working lives – in fact almost every aspect of our lives has changed. Just as we have had to adapt to this new way of life, so have the companies that we interact with every single day. Their success relies on their ability to meet our ever-changing needs.
As we support clients adapting their communications strategy into the new world of normal, here are some key things to consider with them.
1. Customer – first and foremost
Understand how your customer is redefining value – and respond. What are their needs now? How can you meet them? What channels are most efficient in reaching them? Online video, broadcast and TV streaming take the top spots overall for increased media consumption, proving popular across all generations. Millennials are driving the increased usage of radio, podcasts and audio streaming; how can you update your strategy to meet this?
History shows that maintaining spend can improve market share, whether competitors are cutting back or not, and customers will value the reassurance of recognising known brands. Brands that advertised during the 2008 financial crash saw nine times faster recovery in their stock market value, and people haven’t forgotten this.
Research from this year’s BrandZ data shows that 78% of people believe that brands should help them in their daily lives, highlighting your consumers, employers and stakeholders want to keep hearing from you.
Customers will be cost conscious and keen to get the best deal. The key is to remain competitive and reward loyalty.
4. Core values
Highlight what you stand for as a business to both employees and loyal customers and how these values translate into the current context.
As we emerge from this crisis, not only do financial services have a structural opportunity to be the engine of recovery, helping businesses and customers to emerge resilient, they have a greater opportunity, through adept communication, to transform both people’s lives and our world for the better.
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