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Brands in Times of Trouble - Covid19

From cancelled meetings and conferences to various economic issues, the world wide economy seems to be affected by COVID-19. Read ON!
COVID19 Impact on economy
How the Coronavirus affects business world

The Coronavirus comes with new obligations for business world: enterprises have to rethink the way they do business, start work remotely and keep in continuous touch with their clients and be as creative as possible – in order to keep up with changes.

Economic impact

As far as economic changes are concerned, the sectors will be affected differently. For example, some sectors, such as aviation, tourism and accommodation will see a drop in demand (once customers choose not to eat at a restaurant, travel and stay in problematic regions, economic losses are inevitable) .

Prices for the travel area will drop considerably. Once companies find that traveling is not a priority and that they are on the list of plans they can expect, prices will fall unexpectedly. Fear is stronger than low prices, anyway, so people will probably not take advantages of lower prices either. The same thing happens in real estate. Once companies set the distance, and the office is no longer a necessity, the prices for the spaces offered for rent and sale will fall.

As a result of economic crisis, brands are always on, with everyone trying to create new ways for remaining visible and in touch with their customers.

How the Coronavirus affects business world – cancelled tech conferences

As the coronavirus spreads, many conferences were canceled, postponed, or turned into virtual events. For example, Microsoft is canceling its annual Most Valuable Professional Summit. Also, EmTech, Asia in Singapore and Facebook Global Marketing Summit in San Francisco were cancelled so far, and one of the world's largest and most important annual physics conferences was canceled due to coronavirus less than a day before the event was supposed to begin.

The company’s general manager, Fortunato Ortombina, said that the virtual concert had been intended to send a message: “We still play in this place.”

Let’s not forget about the e-commerce sites and delivery providers. Amazon, for example, the largest virtual marketplace in the US, is a company which can benefit the most from the pandemic. The same is happening right now with Netflix. “Netflix and chill” has become a statement in the times of coronavirus. If something powerful isn’t affected by this crisis, that is Netflix. At least short-term outlook is bright and profitable.

Coca Cola also expects to meet its targets, as the company still sees great opportunities in China, the third largest market, so it will continue to invest long-term.

Advertisment in time of crisis

With coronavirus in foreground, using keywords and visuals relevant to the crisis into your marketing campaigns can be an inspired way to help you draw attention to them and keep your business safe. Obviously, you have to really be careful they are appropriate.

Among all the worrying and dramatic statistics, some ingenious people have found opportunities to creatively exploit the COVID crisis and skeep up the good work.

Taiwan, for example, painted its national flag on face masks so that any mainland chinese who buy them, will have to wear the taiwanese flag on their faces. Tell me that’s not creative-fun business!

Make your creatives relevant and people will feel support, care and trust. Not the best idea to really make fun of the situation, but inspiring texts, infographics, photos and campaigns with helpful messages could be great strategies.

For instance, chinese beauty company Perfect Diary posted on social media a message to reminding people to stay healthy and strong.

Such an attitude can help the business, because people will appreciate seeing that caring for them, in this situation, is more important than aggressive selling.

PayNet also knew how to turn an epidemic into an extraordinary business growth opportunity. So he didn't delay to propose paying the bills at home. Stay safe, pay your bills online, from home!

KFC knows that not panic is the solution for prevention, but washing hands before you lick your fingers after the chicken wings. KFC cares about its clients, but also knows how to keep the business afloat during Covid 19 crisis.

72andSunny, a full-service advertising company with offices in Los Angeles, Amsterdam and New York didn't wait long before showing its own agency-brand support for healthcare workers in Singapore, so they volunteered to initiate a campaign – and produced icons with surgical heart shaped masks with beautiful messages like "Majulah Medics", "Nurses are the Nicest" and "Tok Kong Doctors".

Corona beer

COVID19 Impact on economy Since the Coronavirul crisis spread, there has been a steady stream of memes tying the virus with the Corona beer brand. It may seem funny – or not –but let’s face it: Corona beer has nothing to do with the Coronavirus, so panic isn’t justified at all. In fact, all the Corona beer memes are a mechanism for the fears that come with a rising pandemic.

Corona has avoided making any public comments concerning the name similarities on social media.

Brands and companies have mobilized immediately. If there is virus in the world and panic in people, that’s a fact to be exploited in brand communication. And not just online. A Greek newspaper, for example, sells newspapers with protective masks as a bonus.

In times of trouble you have to be creative. It helps you stay on the waterline, keep your brand visible and maintain good communication with customers and partners. Meantime…keep calm and wash our hands.

Copyrights © 2024 Inspiration Unlimited eMagazine

Any facts, figures or references stated here are made by the author & don't reflect the endorsement of iU at all times unless otherwise drafted by official staff at iU. This article was first published here on 12th May 2020.
Ana Sorina Corneanu
My name is Ana, I love writing, I believe in our best self and love.

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