In this Zoomified- reality, which brands will thrive? Not just thrive economically but thrive from a share of heartperspective where we see consumers embrace brands that embody compassion, empathy, and an impetus to act. Taking authentic and visible actions is critically important, given that 50% of Americans believe brands are sharing meaningful messages, but not necessarily taking meaningful action.
We have been thrust into an unfathomable crisis brought on by an invisible enemy. We try frantically to deal with the difficult notion of flattening the curve, aware that our actions at this moment in history will be testimony to how well we endured. In an environment where the economy itself is at risk, marketers and brand managers are taking seriously their position on the front lines and helping frame a human-value-based standard that will define what brand building will look like going forward.
Examining what it means to be a purpose-driven brand in this tumultuous time requires widening the aperture through which brands across both the private and public sphere are viewed. Consumer sentiment research suggests that 62% of people believe that brands will play a 'critical role' in the fight against COVID-19. That puts a heavy responsibility on brands to deliver on this expectation—even at the possible sacrifice of short-term financial gain—to ensure the trust and loyalty of consumers long after this ordeal is over. The high stakes are underscored by the fact that 71% of consumers state that if a brand puts profit over people, the brand's trust will be permanently lost.
Download below the free detailed and fact/chart-filled white paper on Grit, Grace, and Generosity: Brand Leadership in a Time of Crisis at MediaVillage.
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The opinions expressed here are the author's views and do not necessarily represent the views of MediaVillage.com/MyersBizNet.