As every one of us is aware, we are right now in the midst of one of the most trying times, both for individuals as well as for corporates. The true test for any brand is not when it is in cruise mode – a vibrant and growing economy, conducive competitive conditions and buoyant consumer demand. It’s when the entire ecosystem comes to a grinding halt, the business environment becomes uncertain and the very tenets on which a brand is built are no longer valid in a drastically changed scenario.
We at MullenLowe Lintas Group have traditionally strived to be proactive in dealing with clients’ businesses, keeping their best interests in mind. Hence, in the present scenario, we have endeavoured to take the time and effort to make sense of this uncertainty from a brand and business perspective, and suggest a comprehensive approach with a workshop for the clients, which not only reveals the gravity of the current situation but also explores the various opportunities available.
Starting with recession psychology, through our understanding and analysis, discussions with experts, and studying various industry reports, we looked at how consumers’ mindsets would be shaped in response to the tough economic environment they find themselves in, leading to multiple cohorts. It also deals with an appreciation of how they would relate to various categories they buy/buy into given the current and evolving situation.
Through working sessions with clients, depending on the nature of business and challenges for the brand, we arrive at solutions, using our ‘Hyper-engagement’ framework that addresses how to ‘Hyper Retain’ existing consumers, how to ‘Hyper Reframe’ things in a different light, and how to ‘Hyper Reinvent’ strategies and innovations, with a suite of proprietary strategic tools that build immediate and long-term ‘relationship capital’ in a meaningful, human and relevant way for consumers.
It ends with specific brand messaging approaches and the role of marketers in designing, building and running the experiences for recovery in three distinct phases – NOW – the immediate priorities for the brand, NEW- short-term priorities for next 3-6 months, and NEXT – preparing for the new reality.
To receive a detailed note from our Group CSO, Subramanyeswar (Subbu), giving you a glimpse of the ‘Restart & Restrat’ framework, please fill the form below. For any additional information, please write to Krishna.Iyer@mullenlowelintas.in