A new analysis conducted by the global brand experience firm, Siegel+Gale, supplied much-needed hope to our pending economic crisis.
After consulting with 26 marketing leaders from some of the world’s leading establishments, the authors highlighted several key benefits afforded by remote operations.
Of course, established brands had a much easier time adjusting to the digital age than less recognizable businesses.
Professional and business services added 127,000 jobs last month, after losing 2.2 million jobs in April, while financial organizations added 33,000 jobs over the month, following a loss of 264,000 jobs in April.
New distributors of every industry are having a rough go at retaining consumers while in competition with market-share leading brands known and trusted by the public; the series of stipulations standing between small business owners and stimulus relief funds have only frustrating things for these markets.
In any case, brands that experienced the most growth during the pandemic have maintained regular communication with their clientele, provided content that is clear, authentic, and functional, and have been able to amputate daily functions that are of little utility in a virtual market.
“Navigating the current landscape is complicated, so to better illuminate the road ahead, we turned to our community of CMOs. We spoke with brand leaders from around the globe on their experiences in marketing and conducting business amid the global pandemic,” Margaret Molloy, Global CMO of Siegel+Gale wrote in the new paper. “Here they share their insights into what it has been like living and working over the past few months—from the elevated responsibility of marketing and the critical role of purpose to unexpected silver linings that have appeared.”
If you’re invested at all in the telework saga currently seizing the attention of industry insiders, you’re likely aware of some recurring pillars. However, the new report demonstrates just how wide-ranging the benefits of remote work can be.
The CMO’s indexed the following advantages with the most frequency:
-Improved business processes,
-Faster decision making
-Less tolerance for office politics
-Accelerated digital transformation
-Stronger employee relationships.
“One of the things that we’ve learned quickly is to compress content and deliver in small ‘chunks.’ We’ve recently shifted both our executive Partner-Leadership Summit and our EMPOWER Online Enablement event to digital. Instead of hour-long general sessions, we’ve moved to 30 minutes sessions with short, on-demand topics. We are competing with other vendors for mindshare and a finite set of Zoom time in the day. Being on the screen all day is hard, people are going to tune out, we need to keep them engaged. Shorter is better!” said Kathleen Tandy of VMware in the report.
The lion’s share of advantages that lead to profit growth can be grouped via two themes: clarity and focus.
Refined clarity denoted a 44% improvement in brand strategy and a 44% boost in marketing strategy. Improved focus described a 44% boost in balancing short-term and long-term objectives and quotas.
“Consumer behaviors are likely to change for the long term. We can expect to prioritize online digital interactions with brands over in-person experiences. Consumers will also place increased importance on purpose and favor brands that are actually doing good. Tracking consumer sentiment and behaviors and using the data to influence marketing and brand strategy will be crucial to all businesses – both B2C and B2B,” Brian Rafferty, Siegel+Gale’s Global Director, Business Analytics & Insights concluded.
CW Headley is a reporter for the Ladders and can be reached at email@example.com