09 July 20
We are now walking on eggshells, still figuring out what to do and how. It has been months since the pandemic started and many are still adapting as we settle into a new normal. In this situation, businesses and brands experience shifting and find themselves in positions many are not prepared for. Every brand now reevaluates what they have been doing and the changes they need to implement. As the majority of industries have been seriously impacted by this sudden global threat, McKinsey’s Executive Briefing Note on July 2nd, 2020 reveals both an optimism on how economies would soon be doing better and a grim news of lower income, savings, and spendings.
This gives a literal new meaning to brand positioning. In this new normal, where do you position your brand?
Everyone needs to adapt quick and different workarounds. As a brand agency, Milestone sees this as a time to perform brand health checks. Brands change because their customers do, and it is essential to realign customers’ needs with the approaches taken. In doing so, they could connect with the captive audiences and create the intended impacts. Needless to say, this is a challenge. However, this is also an opportunity - for brands to re-calibrate and fine-tune. This does not happen at once, each brand has different timing at different phases. Jia Wertz for ForbesWomen in her Branding Strategies Your Company Should Apply In 2020 summarized how today's landscape experiences momentous shifts, new platforms launched, and algorithms change. As business develops in this 2020, brands need to stay current on the key shifts and their business bottom line. This is why brand positioning matters especially at this current situation.
A brand agency like Milestone should be able to give you a better and comprehensive picture of what is happening based on industry observations. This is crucial. Many businesses and brands are down and going south, a wrong step in this current situation would be worse for business. Your brand should be up and coming even in this changing landscape.
Every brand wants to move forward, the question is which forward you go to?