Measurement has never been as valuable as it is right now, as we see the role of brands across the globe shift so dramatically.
If you were the captain of a large ship, navigating through stormy, unchartered waters and you hit an iceberg would you dismantle and throw your state-of-the-art navigation equipment overboard to save weight, in a hope to slow the amount of water you were taking on, leaving you to travel to your nearest destination blindly?
No, you would use your cutting-edge navigation equipment to identify the optimal path to shore as quickly and as effectively as possible, while doing everything you can to slow the water you are taking on.
Putting this somewhat unorthodox metaphor into the context of brands and today’s pandemic: we know there are some tough decisions and scenarios ahead. Being able to understand and diagnose the current evolving climate, and its impact on your brand, is central to short, medium and, crucially, long term health. In Layman’s Terms, you can’t afford to travel blindly…
As the chart from my colleagues at Interbrand shows, strong brands not only fall less harshly in times of crisis but are also able to recover more quickly and more effectively. The strongest brands – the ones that successfully connect with and understand their consumers – will be the ones that benefit.
While we all navigate these uncertain times, it’s crucial we evaluate and measure the impact this is having on consumers, so we can plan for a ‘new normal’. At Hall & Partners we recognise the importance and value of unlocking what consumers ‘See’, ‘Feel’, ‘Think’ and ‘Do’ about brands.
COVID-19 is a grave and worrying pandemic but one, nonetheless, which will pass and be reflected on for decades (if not centuries). Managing your brand effectively and authentically will help you map out a clearer path to a new future…
As a brand you need to:
Future-proof your retrospective analysis
Continuing to monitor and evaluate your brand is more important than ever i.e. will what was important two months ago be relevant in future weeks and months?
Leverage insights to boost your brand
Brand strengths and weaknesses are unlikely to change overnight – especially our deep-rooted emotional and unconscious beliefs. Insights are key to unlocking and leveraging brand strength and addressing weaknesses during and after a crisis.
More data improves your vision
Less certainly isn’t more when it comes to data. It’s important to evaluate brand performance from multiple angles to give us a rounded, comprehensive picture, e.g. augmenting our brand insights with social media analysis, pulls out conversational themes which provide a crucial ‘litmus-check’ for existing brand advantages.
Assuming my next home food delivery actually arrives, I’ll continue to focus, working virtually with my team to evaluate how COVID19 is impacting consumers, brands (their competitors) and helping to navigate turbulent waters.