Time to Pivot: Five things to do to Reinvent Your Brand Strategy
First, remember, who you are is not the same.
The key is understanding that the rules that governed what you did and how you did it for your business or non-profit have all changed. The radical shift in the world caused by literally turning off almost all business transactions and activities that drive consumer behavior has thrown many businesses off a cliff. For both large and small, everything has suddenly changed. Entire industries stopped production and millions of small mom and pop retailers that so depend on larger trends and bigger players have been virtually wiped out.
When your industry changes you need to as well.
In particular retail, hospitality and restaurant industries have been put into a tenuous state of limbo. Everyone is waiting for an approach, a strategy to allow them to come back and for consumers to feel safe in engaging again. But larger players are paying the price. The airline industries, healthcare (with a massive drop in co-pay premiums), retail, transportation. The list goes on. But how do brands big and small cope and shape a new narrative that can bring back consumer spending, trust, and engagement?
What Airbnb has done Right.
Given that the hospitality businesses, along with travel and the airlines, have virtually collapsed with no business, Airbnb has shifted dramatically in focusing on their customers, small property owners, and hosts who’ve also seen their incomes evaporate overnight. In creating a $250 million fund to assist hosts in managing their losses. Airbnb is forward-thinking even as they are hemorrhaging revenue. They are already laying the groundwork for the future travel world and new standards needed.
Their continued outreach and focus on the needs of their customers only adds value to their brand as they struggle through this. They’ve shown that connecting with and supporting those who you sell to and work with is essential. This builds lasting connection and value for the future as things turn around. Who knows what kind of company Airbnb will be in one year. It will obviously not be the same but their level of engagement shows that they will be poised to be engaged and respected by customers.
Reinventing Your Brand Strategy
1-Understand your brand is defined by your customers and partners.
By looking at what’s going on for customers and clients you can really begin to figure out what’s next and where the opportunities are. Re-establishing priorities and resources will give you a foundation on which to move forward. Once you’ve done this you’ll want to review how you market and position your value and your offerings. Developing a customer survey on what their priorities are is powerful and engaging. This will give you insights into how to redefine your relationship.
2- Revise and update your messaging and maybe your brand.
Understand that you need to acknowledge the world that customers and partners are living in now. As they begin to reengage in the world it’s an opportunity to rethink everything for the new world they are in. For food and beverage, it’s not about the quality of the restaurant experience it’s about getting food in the safety of their home. Right now there’s been a massive increase in traditional comfort foods such as fried chicken and grilled cheese sandwiches. As a restauranteur, you may shift what you do to keep that customer connection.
3- Shift your website and its message.
Realize you are not the same company, the same brand for your customers. You must really revisit who you are and how you’re valued. What are you offering your customers that they see has value and will bring back engagement? This is critical. Providing the right value for the right reason is essential. Do not sell to customers, it’s about being real and connected to their needs.
4- Tell new personal stories.
How you connect the value you have comes to your audience through stories. Postings on social media. Stories about your team and your people and how they are supporting and connecting through down-to-earth value that reemphasizes who you are and that you’re about people. Social media, email, and video, and now Zoom calls, are important elements in building and sharing who you are and what you care about. This is the opportunity you have to build that value.
5- Do old things in a new way.
Email marketing and social media postings are not the same now. Create short videos and embed them in your email. They can be handheld iPhone personal videos about what you are dealing with. Think of placing Zoom on your website – you can actually embed this in a WordPress site and it gives you the power to host presentations and live content within your site. Use social media to post the status of your business and what’s next for your customers or clients. These ways of connecting can be valuable and memorable for your customers.
Keeping the brand connection
Becoming more than a service or product by becoming a valued partner and resource. This really builds the relationship of connection as everyone begins to recover. The brand message you want to be remembered for is, how did we help others, what did we contribute? What brands and companies do will be remembered and valued as we go forward.
Be that kind of brand.