By Sarah Araighy, COO of Bridge of Minds
Throughout the years the definition of marketing has evolved and widened to include the new technology boom and continued expansion – where the internet has become highly personal, giving customers access to information and communication like they never had before, where they can compare and value the variation of brands and products – in different industries, making the purchase decision easier and faster.
Being entrepreneurs and brand agency owners in such a vulnerable country as Lebanon made my partner and me assess frequently and systematically the daily known and unexpected social and economic risks that surround our business in such an unstable community, keeping in mind that those indirect and direct risks can mushroom into something bigger that threats and challenge the business more. What’s the solution to survive the national and international instability? And how we can maintain our clients?
As we are living in the “age of Aquarius” (an age of rebellion, innovation and collective mind sets) and with the vast evolution of new technologies and greater data transparency, marketing has become the necessary tool that directs the world’s behaviour and trends from everyday choices to electing the president and by being the SCAMPER (Substitute, Combine, Adapt, Magnify or Modify, put to other uses, Eliminate, Reverse or Rearrange) solution for all the CEOs and marketing directors to face this era of instability and risk we are living in.
It is the time of adaptability and flexibility for all the businesses around the world by arranging and modifying their strategic work plans to adapt to the current situation of coronavirus (Covid-19) outbreak that has detached enormous business pillars like customary PR activities, media, work from the office and socialising with people.
It’s time to start thinking from another perspective and to be creative and propose new marketing approaches. What can be done instead? Can the rules be altered? What can be mixed? What might be used in different way? What can be omitted? What can be mirrored?
For brands, maintaining visibility during lockdown is a must to retain existing loyal customers, and we must scheme for long-terms profitability even though marketing budgets and spending powers are tighter now. Customers are still spending money so we need to figure out what they are spending their money on. Groceries and food delivery? Online fashion shopping?
The first question a brand should ask is: Am I present online? What can be done to improve this presence? And what offers can be given now to push the people behind their smart phones and tablets to take action and buy? Being online is a must for any brand nowadays more than ever. Brands needs to expand their reach and extend themselves as a need in their customers’ new lifestyle. It’s the only method to get fast ROI.
It is the time for e-commerce, effective social media campaigns and activations and TV ads to grow remarkably. It’s the time to pivot and adapt. And maybe for Netflix ads to start.