Some of the Biggest Marketing Challenges during COVID faced by brands
The COVID-19 pandemic has made it imperative for almost all business leaders to adopt strategies that enable customer stability, business continuity, and revenue growth during an unprecedented and unpredictable moment in history. COVID-19 has changed the way the economy will function for the foreseeable future in the long run. Critical challenges for CXOs and CMOs are becoming more apparent with each passing day, including: • Radically reduced budgets: Marketing isn’t often viewed only as a mission-critical function, so many times of cash preservation; it can be the primary department whose budgets are cut. CMOs and CXOs are challenged to drive continued customer acquisition and growth of the revenue under much tighter budget constraints. • Rapidly changing marketing messaging and mix: The pandemic has introduced new constraints, complexities, and the marketing mix. The cautious digital landscape and a customer sentiment flooded with an onslaught of news make it difficult...