As COVID-19 Challenges Companies, Keep Building Your Brand With continued challenges of the COVID-19 pandemic, new distribution channels and messaging can help continue consumer trust.
By Paul DeHart
Opinions expressed by Entrepreneur contributors are their own.
We rang in 2020 at parties with friends, family and strangers. Crowds packed Times Square in New York City. Concerts thrilled audiences watching in-person and at home. For the next two months, we shopped at grocery stores without a second thought about how many people were in each aisle and bought household supplies as we needed them. Fast-forward to late 2020, and our mindsets have flipped. Thoughts of how many people are around us and what we touch are rampant, all due to the COVID-19 pandemic. No industry is untouched. Now, adapting to our new world is not a choice but a necessity. For businesses, the biggest takeaway we've learned throughout the pandemic is that no matter the company, it is critical to double down and look to new distribution channels to reinforce branding and develop relationships built on consumer trust.
Advertising revenues have dropped throughout the pandemic, as budgets shrink due to economic difficulties. In fact, Google's parent company, Alphabet, reported its first revenue drop in history, in part, due to a decline in advertising revenue. For many brands, these have been trying times. Cutting through the noise with a reduced budget has proven to be one of the biggest challenges. Now is the perfect opportunity for many to take a step back and evaluate how their brands relate to the current situation. How can each brand help a business or a consumer during COVID-19, and how can it best engage with customers moving forward?
Related: These Are the Core Elements Needed to Successfully Pivot Your Business
The rest of this article is locked.
Join Entrepreneur+ today for access.
Already have an account? Sign In