Covid-19 Insights: Corporate and Brand Management (Part 1)

David Gallagher, President, Omnicom PR Group, EMEA

• Current Status: Companies and brands are finding it challenging to connect with stakeholders in meaningful ways, with virtually every aspect of daily life disrupted or on hold, both in the real world and even online. Some have misfired spectacularly, while others have behaved heroically. Smart organizations are using this moment to reflect on their purpose and values, and preparing for a “new normal” of expectations from employees, communities and supply chains, while attempting to meet investor demands.
• Longer-Term Concerns: A drawn-out recovery will place strain on even the most resilient and relevant organizations.
• Noteworthy Aspects :Many of the best stories of purpose-driven brands and companies are those you’re not actually hearing about, as they’re more interested in solving crisis-related problems than securing publicity.
• Important Variables: Most of the mechanisms by which companies or brands burnish their reputations are severely constrained: advertising, events, sponsorship, retail experience, etc., and unlikely to return in an orderly, predictable way. Reputation is going to be earned the hard way: on whether its purpose is seen as relevant and whether it’s delivering on it.
• Analyst Assessments: Predictions vary by sector, but among consultants (in the UK, where I am based) advising clients on matters related to branding and corporate reputation, confidence remains surprisingly optimistic–presumably based on anticipated opportunities to help reset marketing and communications plans.
• Ones to Watch: Examples abound of companies putting expertise and capacity to work quickly, but some of the earliest were Airbus, which mobilized quickly to move people and equipment to governments in need around the world, as well as ABinBEV (among brewers and distillers) which repurposed alcohol into hygiene products. And of course the pharmaceutical industry is driving collaboration on among competitors and the public sector in the search for a vaccine and treatments. Even my local tailor shifted production to make face masks for pharmacies and healthcare workers.
• Personal Note: I’ve heard CEOs say this is the most challenging situation of their professional careers. I think those most likely to succeed are those emerge with a clear sense of why their business exists and how to deliver on what the world — not just shareholders — expect.