#WordFromTheBird - Twitter Marketing India brings media mavens together
In these unprecedented times, it is essential for brands to navigate the situation creatively yet responsibly. Twitter has been working with several brands, providing them with the necessary counsel and advice to drive impactful yet relevant communication with all stakeholders.
With this video series, Twitter India aims to discuss the larger variables that will impact the ‘normalcy of things’ going forward. The series brings together celebrated marketers and advertising mavens to discuss the various aspects of how the industry and its practices are shifting in the wake of the ongoing pandemic.
The first session, ‘Brand Meets Crisis. Crisis Meets Brand’, moderated by Rishabh Sharma, Head - Twitter NEXT India, with Santosh Desai (@desaisantosh), one of India's best-known social commentators, also the MD and CEO of Futurebrands in India, and Karthik Srinivasan (@bestoftraal), communications consultant and author, threw light on the multifold impact that the COVID-19 crisis has put on the industry, and how brands can navigate these challenges amid the crisis.
Here are the key takeaways from the session -
How brands should approach the situation
- At a time when we’re forced to distrust everything we’ve learned to trust, people are bound to look towards brands that have been around for a while, for comfort and reassurance.
- There is no specific right or wrong in how brands should be reacting or responding to the crisis. Brands have to continuously evolve by learning how to respond to consumers and evaluate how the industry is reacting.
- In a crisis like the present, it is essential for companies to respond first to their immediate stakeholders - their employees and partners. Consumers must be communicated with to keep them informed and reassured.
- The most obvious challenge for brands can be looked at in two ways
- A number of brands are out of business at the time as people are not going out, and not purchasing.
- On the other hand, ed-tech and streaming services are facing the challenge of excessive demand.
- Brands are also facing the challenge of how to creatively communicate with their customers if they should communicate at all.
- The slowdown has impacted certain categories differently than others.
- Financial services, education, medicine etc. have had to reinvent their approach to catch up with virtualisation and digitisation.
- Industries based on social experiences, such as hospitality and travel, are being pushed to reimagine their businesses entirely.
- Brands that are looking to launch new products should be wary of the fact that people’s focus right now is on ‘livelihood over-indulgence’.
How the community develops in the current and post COVID-19 phase
- Selective consumption will dominate consumer behaviour. Consumption will be more cautious and meaningful. The notion of consumption will get more scrutinised.
- Live sporting events are bound to suffer depending on how quickly and variably the crisis passes. However, the passion for sports might make it the one category to bounce back more quickly than others.
- Behavioural patterns among people, as well as businesses, are bound to alter depending on how quickly the transition to normalcy sets in. New habits that have emerged at this time will crystallise into behaviour.
- The notion of proactive health will gain prominence as an aftermath of the crisis.