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What are the challenges and opportunities for brands before COVID?

May 27, 2020

Business innovation, marketing and communications experts share their vision of the new challenges facing brands in the new context after the coronavirus pandemic.

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What are the challenges and opportunities for brands before COVID?What are the challenges and opportunities for brands before COVID?

The opinions of the employees of s You are personal.

The world and companies are changing and consumers are also changing. Why shouldn’t brands evolve? In a context where we are facing an accelerated digital transformation in which several generations coexist and where there is an increasingly informed consumer, brands have to change.

¿What is the starting point? Today there is more media competition, an empowered consumer who does not expect companies to offer their value proposition, but wants to challenge and shape what he needs.

In addition, we find brands in the middle of sectors that are strongly affected by new business models, which leads to a loss of relevance in the life of consumers. In short: brands face a challenging context.

During the “Challenges and opportunities of brands before COVID” panel, organized by the Alliance for the strategic value of brands (AVE)the priorities of the new consumer were discussed in the face of the new reality; brand confidence and the coronavirus pandemic; the role of the media and platforms in their favor; and the challenges and risks of advertising investments in times of crisis.

The panel was moderated by Sylvia Hernandez, Consultant at Business Transformation. The panel consisted of Alberto Vargas, VP Client Management of Kantar, Sandra Rincón, Director of Google Healt Personal Care in Mexico, Manuel Coulomb, Marketing Director of Casa Cuervo, and José Luis Cachafeiro, General Director of G21 Comunicación.

The following are the specialists’ visions of the challenges and opportunities of the brands that the COVID-19 is facing.

  • The restriction is rigorously enforced by only 4% of consumers who prefer to buy local products today, in the corner shop and in Mexico.
  • 4 out of 10 have started buying products over the phone or online.
  • They want to eat and exercise healthier, and it’s a trend that will stay here.
  • The consumer wants more information from the brands as this leads to better planning of purchases.
  • The problem of not contacting anyone has expanded the digital theme. Now we are better informed because we are connected all day. Digital consumption has accelerated.
  • The house is the new office or college. The search for collaborative apps, accessories and videos for working at home has increased by 400%. People are looking for learning opportunities and have an accessible office.
  • The search for home entertainment, learning opportunities and distraction options also increased.
  • The topic of virtual communities is striking so as not to lose contact with people.

Brand trust

Experts agree that consumers maintain their preferences for their favorite brands. Seven out of ten consume the same thing as before the crisis, but 20% say they are ready to try new ones.

Consumers appeal to brand empathy. How can you achieve this empathy? Listen and speak to the consumer.

Sandra Rincón warns that the signatures must be authentic because the consumer warns when there is opportunism. In this sense, he emphasizes that the topic of purpose is of fundamental importance because “nowadays the value of a brand must be to generate value for its stakeholders. If you do not act purposefully, you will not achieve the trust of your consumers.”

For Manuel Coulomb, the purpose of brands is the culmination of everything. The specialist sees three aspects that create trust:

  1. A direct recommendation, so it is important to keep an eye on the media.
  2. The recommendation of a website or an online sales point.
  3. When it comes to influencers, it is important to include a point in the media role that can lead us to participate in this medium.

What is the role of the media in favor of brands?

José Luis Cachafeiro, CEO of G21 communicationagrees with the panelists that we are currently seeing an increase in consumer demand for digital content. “Traffic in general has increased significantly and the audience has grown,” he emphasizes.

This is relatively logical, as people in a limited state need to be better informed and are looking for more guidance, security in their daily lives and support in coping with the crisis in these uncertain times. “”The media have a great responsibility in these times, recognize.

The manager says he sees changes in the content consumption patterns of the brands that he leads in G21 Communication: more reading time and the addition of new target groups and profiles. “We had to change our conversation to maintain empathy and adjust our content and formats.” Initiative highlighted homeschool, Webianar format, for example to provide the audience with valuable information.

He also highlighted five key points regarding the role of the media in favor of brands:

  1. The credibility and trust of the media in their communities of interest are now more than ever a great added value for a brand that wants to interact with its consumers.
  2. Bring brands closer to their consumers through functional and valuable content that is relevant and helps these target groups to get out of the crisis and make their decisions in the short and medium term
  3. Advising brands on how to tell their stories in a way that is clear to the public that the brand is interested in helping them improve their lives and reduce or mitigate their risks, not their own Advantage.
  4. Guarantee brands that are more targeted to their specific areas of interest with more targeted and effective messages.
  5. The media must continue to develop our platforms and proposals so as not to lose relevance in these times when consumer habits are being adjusted.

You can see the full panel from the bird found in the video in this article.