Fast guide: Is your sector going to be saved or screwed by COVID-19?
There are still market silver linings and for those that can see one, take it fast, for our economy's sake. If you’re in travel, sport, gambling, you’ve already felt it and bracing for bigger impact. Food, online entertainment and home related retailing, meanwhile, will see a boom for their offerings.
Key points:
Brands started to come to market over the weekend in short turnaround media. like news media and radio with topical messaging that reinforces the government appeals to stay home.
They’re doing it through a brand lens i.e. Toohey’s. Could they have pushed it further by offering a form of action that further benefits the broader community?
In the food sector we’re seeing our clients without supply chain issues raise investment to refocus on usage and utility – it’s a recognition now that more people are cooking at home and seeking inspiration on how to use less familiar ingredients.
Our clients are experiencing a mix of impacts. We’re helping them navigate how to retain, raise or reduce their investment with integrity.
What we have learned is that you can still invest and do so with sensitivity.
If you're operating in one of the lucky sectors who will be safe amidst the chaos, now is the time to help consumers and do your part for the economy.
Everyone is affected psychologically. They need C.A.R.E.
- Community – to see you helping for the greater good
- Action – they want you to walk the talk
- Resilience – to be decisive and responsive in adversity
- Empathy - that you understand their needs
If you're in a struggling sector, we're so sorry to hear it. However, you need to act quickly. You need an operating template around C.A.R.E and to be future focussed. How might you do that?
- Remove limits – How can you change to make it easier for people to access your product or service?
- Repurpose Assets – At a minimum adapt messaging and then consider how else you can pivot
- Rethink possibilities - Turn constraints into an opportunity.
Some media are experiencing a downturn driven by perceptions of lower usage linked to being out of home channels i.e. out of home and radio. But is that actually short-term thinking?
As we continue to self-isolate as family units, the need to have a break from the home environment in a safe way could increase. The solution might be a short drive in the car – which OOH and radio could support nicely in mental health terms. It could be a great way for brands to step in and enjoy a strong share of voice.
Or could the likes of Dettol, Ajax or other anti-bacterial and hygiene brands be in market promoting positive hygiene messages in OOH channels.
Whilst product supply is still low now, surely they will be brands that win coming out the other side by driving a change in habits to new levels of personal hygiene going forward?
You’re not alone, there are many other brands who are affected in this scenario and agile thinking could be the beginning of many beautiful partnerships or collaborations to ensure our economy survives and will ultimately thrive coming out the other side.
In this vein an opportunity for the tertiary education sector could be to reorient to become a home schooling aid or to repurpose and pivot towards the Australian market to offer short term retaining opportunities.
For a copy of Slingshot’s killing a crisis with C.A.R.E report, email Simon Corbett at corbs@slingshot.com.au. Remember, if you don’t show you C.A.R.E now, why should consumers care about your brand or service later?
