01 July 20
As the leading brand consultant in Indonesia, Milestone observes trends in the industry. This is not only to see how brands work, but also when they work. Different time requires different outlook, this applies for most industries and branding is one of them. This pandemic is an exhibit of how timing could be the most essential factor to take into account when making decisions for brands. In times of crisis as we are experiencing, businesses and brands ask one question, 'What can we do?'. Different motives and intentions are behind this. Some experience a real urgency of businesses going downhill, some experience shifts where they need to reposition themselves.
As seen in How Mastercard is maintaining 'brand momentum' amid Covid-19, the brand has their "building blocks" in place when a crisis, such as coronavirus, emerged. They already know the business process to follow and how the chain of communication would be. Other brands, which have been directly impacted in their industry, address the issue by communicating initiatives and showing customer support. British Airways and American Express for example, in their social media platforms, broadcast messages to show they listen to different concerns customers have at the current situation and they adjust to how things work. The list of how brands respond goes on as reported on Forbes' Coronavirus Champions: A Running List of Brands Getting It Right. They show how brands have limited options to get around during this pandemic, but they find a way and focus on what they could do differently.
Deloitte in their 2020 report of COVID-19 Maintaining customer loyalty and trust during times of uncertainty concluded that this is a time to look at the future. Communicating to employees and developing new ways of working are among things a company could do, but it is also important to remember that the future roadmaps are required now, not later. This pandemic changes many things, and brands need to know what they are and what they do as the world comes out of COVID-19 situation.
This could be the momentum for your brand to decide where to go next and how you get there.