Brand Repositioning is the communication strategy that a business adopts to gain positive brand perception against its competitors while brandishing itself as a leading expert or with the best product in their market with the aim of increasing brand perception of “quality” offerings in the mind of its target audience. There is no doubt that these are overwhelming times and the uncertainty the world faces is scary. The Coronavirus pandemic has left millions of people dead globally, and an even larger number of people infected in over 40 countries.
Decline in economic growth, Businesses, cities and institutions in lock down, Travel restrictions are in place as airport closes and airline companies shut down indefinitely, leaving businesses all over the world counting cost. Coca Cola’s stock, which has a market value of $182 billion, has already fallen by 23% in 2020.
For fear of the Coronavirus, customers buy fewer, as the government urges people to stay home. Restrictions have affected big business supply chains, showing a decline in demand. Most brands have resulted in discounts and free deliveries being offered online, while customers stay away from shops and showrooms.
organisations have had to consider brand repositioning by responding to the COVID-19 situation, announcing their position and educating customers on how to stay safe during this period. It is important because the expectations and preferences of customers are formed according to changing circumstances, and connecting with them emotionally is a more effective way of reaching them, encouraging customers to play their part and make a difference.
Organizations globally are joining the COVID Action Platform, and contributing to the fight against the COVID-19 outbreak through initiatives. Brands like UBA, Unilever, Facebook, Apple e.t.c are donating massively to support the eradication of the disease.
“We will provide N5 billion (U$14 million) to COVID-19 relief support across Africa. To catalyze a comprehensive pan-African response to the fight against the #Coronavirus pandemic. We’ll provide N5 billion to #COVID-19 relief support across Africa through the UBA foundation”, UBA Group.
“It’s going to take action from everyone in society to overcome this challenge, and we are ready to play our part and fight this together.” Alan Jope, CEO, Unilever”
“Our teams at Apple have been working to help source supplies for healthcare providers fighting COVID-19. We’re donating millions of masks for health professionals in the US and Europe. To every one of the heroes on the front lines, we thank you.” Tim Cook, CEO, Apple
Brands are using social media to drive engagement as customers are at home and mostly on social media. Influencer marketing and social media have become a significant way to communicate brand value. Positively, brands are leveraging the current crisis to stay relevant by promoting social distancing and creatively spreading the message through changing advertising:
- Separating their logos.
- Using humor to talk about it in a way intended to appeal to its millennial target audience.
- Offering all-round, entertaining TV content. Continued social engagement for users to ensure that distancing does not mean isolation.
- Putting out promotional messaging, referencing the COVID-19 social distancing and self-isolation measure and having sports influencers share videos playing inside on social media.
“If you ever dreamed of playing for millions around the world, now is your chance. Play inside, play for the world.” , Nike
Brands are creating new strategies as a shift, exploring other aspects that they can do in all efforts to increase revenue and thereby adjust to the current situation.
Next Steps for Brands
- Recognize that people come first
- Constant Customer Engagement
- Establish a strong communication strategy
- Partner with the public sector: Health officials
Each brand needs to think about its structures and the best brands are identifying themselves with a mission statement and also working with that belief. Understanding that during this period, they can still increase shares.