The Coronavirus has changed the world as we know it. Business owners are being forced to quickly adapt to budget cuts, changing needs of consumers, loss of revenue, fears of employees and customers, new health risks in the workplace, and so much more.
One of the biggest changes that business owners are being called to make, however, is a major shift in the focus of their brands. Making this shift requires a reevaluation of purpose.
So… what exactly is your purpose? And to what should you be shifting your focus?
Understanding your purpose
Purpose is created from serving your customers in a meaningful, impactful way.
It’s why you do what you do.
Your company is the vehicle through which you provide these services to the marketplace. In other words, it’s the how.
Your brand is the association your consumers have between the authenticity of your stated purpose (why) and your company (how).
During times like these, it’s especially important to reevaluate your company’s purpose, and remember why you’re providing products or services in the first place.
The bright side of this pandemic is that it has lifted the veil of purpose. Brands who previously claimed to be customer-focused and employee-centric are now laying off employees and shifting their focus towards sales, discounts, and profits.
We can’t blame these brands for the shift, because survival is key right now. However, it certainly makes one raise an eyebrow and wonder if these brands will return their focus to their originally stated purpose, or if this crisis has revealed something less than admirable about those brands.
Shifting your focus away from lifetime customer value
For years now, you’ve likely been focused on how much value each customer brings to your company over the course of their entire relationship with you.
To survive moving forward, however, you need to focus virtually all of your attention on what kind of value you can bring to your consumers… not the other way around.
Making this shift should get you thinking about the lifetime value of your company more than the lifetime value of your customer. In other words, what are you doing to improve the lives of your consumers?
Prove to your customers that you are truly committed to putting them first, and your brand will begin to thrive again.
When it comes to online or digital communications, any and all content that you put out during this time should be centered around helping your consumers. All of your services and customer-facing interactions should also be focused on understanding the pains and problems of your customer and helping them solve those problems.
Customers will remember who was truly there for them during this crisis. When it’s all over, people will continue to do business with the brands that served them and helped them when they needed it most.
View this crisis as a great opportunity for you to serve others and to build brand trust and loyalty.
There are endless ways for your brand to give back during this time.
Restaurant owners are waiving delivery fees and offering family value meals.
Grocery stores are providing special hours for senior citizens and closing earlier to clean their facilities.
Large corporations are donating masks and meals to healthcare workers.
Retail stores like Allbirds are offering buy-a-pair-give-a-pair options or donating a portion of their proceeds to COVID-19 relief organizations.
Find ways to do something similar. Look for ways to ease the burden of your consumers.
Serve them first.
Get in touch with that, and you’ll reconnect with your purpose. When you reconnect with your purpose, you’ll be surprised at how your employees and your consumers will respond.
And frankly, it’s what the world needs more of right now.
For more information on marketing during the COVID-19 crisis, check out the Bizzuka blog.