Evolve the brand or get left behind
Steve’s breakdown: “Kantar Diagnoses Consumer Response To COVID-19, Offers Prognosis For Brands That Don’t” is the headline and it’s for you to use with new and present clients.
Every brand must change and evolve during this crisis or be left behind on the other side. Biggest problem Kantar sees is clients getting clod feet and doing nothing. This is not an option unless they are planning on a fire sale.
In the report, “COVID-19 Barometer,” as well as a webinar being presented from the U.K. this morning, Kantar’s analysts illustrated the impact on “brand health” for those marketers who do not heal themselves first.
The report shows varying degrees of concern, response and expectations among consumers worldwide, but generally most expect COVID-19 to impact them personally, including the health of their economies.
While the Kantar report doesn’t provide any advice for physical health measures, it shows the effects on brand marketers who cut advertising during similar crises. Drawing on the impact of the financial crisis that sparked the Great Recession, Kantar shows a devastating impact on brand health measures (see chart above), as well as their relative performance when the economy rebounds (see chart below).