Striking the right balance
In times of uncertainty consumers go back to what they know. They seek reassurance from familiarity, which presents an important opportunity for brands. It’s why long-term brand building is so important and why it’s crucial brands don’t lose sight of their wider marketing strategy in times of unrest.
Of course companies have to react and adapt to immediate threats, but the only way to ensure they come out the other side fighting fit is to also invest in future growth.
Conny Braams, Unilever’s chief digital and marketing officer, summed it up perfectly this week when she said: "We know that in recession big brands normally flourish as people go back to brands they trust... of course we [must ensure we observe] what is happening now, but we must also build brands for the longer term. Because that is our way to navigate through this high volatility."