According to a recent study, CMOs in the U.S. report facing several key challenges over the next 6 to 12 months. 43% report being concerned about what consumer behavior is temporary versus permanent, 41% are worried about declining consumer spending, and 35% about aligning with new and changing customer sentiments. — Marketing Dive
We might need a crystal ball to see what the world could look like 6-12 months out, but even at times of uncertainty, there are blueprints to follow. Times of crisis are, fundamentally, stress-tests on the mission critical systems of organizations — so turning the lens inward might prove more effective to the longevity of a brand than asking (potentially unanswerable) questions about how consumers will behave in the future. CMOs would be wise to raise questions about how the COVID-19 pandemic has changed their brand and culture, and not only how it will affect consumers.
For companies that want to stand the test of time — to endure and to survive recessions, natural disasters, disruption, and other crises — historical moments like the 2020 COVID-19 pandemic offer marketing leaders a chance to streamline operations, audit processes, and find a more authentic representation of a company’s internal culture, mission, and values, in their external brand.