As the world begins to uneasily re-open, all signs point toward a future that looks different from our past—and while the talk track is focused on a “new normal”, life in the Covid-19 context looks to be anything but. According to the American Psychological Association, psychologists define resilience as “the process of adapting well in the face of adversity, trauma, tragedy, threats or significant sources of stress”. Brand builders and guardians know all too well that while a brand isn’t a human being—it shares some characteristics with humanity. Brands, like people, form relationships with consumers and other stakeholders built off trust, reputation and recommendation.
Business valuation fluctuates not only on the ability of the business to turn a profit but also from the reputation the business builds over time. In the Covid-19 context, our research has informed us that people are looking to brands not only to demonstrate leadership during this tumultuous time, but to also help, assist and serve. Ninety percent of the consumers that we interviewed told us brands “must do everything to protect the well-being and financial security of their employees and their suppliers,” while 65 percent have affirmed that the way a brand acts during the pandemic will have a significant impact on their likelihood to buy that brand in the future.
Written by Edelman