Covid-19 has resulted in a global change in promotional spending. In Nigeria, while some brands are still in shock, others are adjusting and adapting to new ways of surviving and this includes cutting of promotion budget.
Advertising Versus Corporate Social Responsibility
The bulk of the promotion budget is usually spent on Above the Line Communication (Advertising), and what is remaining is spent on Below the Line Communication, which include; Sales Promotion, Personal selling, Public Relation, Publicity and other promotion options.
Advertising is a form of Marketing communication that uses non-personal messages to promote a Brand, it is usually paid for by an identified sponsor. While Advertising focuses on creating awareness, it is also used to;
- Reinforce sales
- Suggest new uses for the Brand.
Corporate Social Responsibility, on the other hand, involves giving back to the Society. It is an organization’s way of being socially responsible by catering for the needs of the people in its environment. With the help of PR, this effort often leads to a favourable, positive public image on the part of the organization which can in turn be a competitive advantage.
It is time to slash the advertising budget and invest it on Corporate Social Responsibility. This is because the Consumer is not interested in seeing adverts at this time. They are already aware of your Brand. It is time to give to Consumers in need. The Consumers that helped you climb the ladder of success are now down on the other side of the ladder. The average Nigerian now lives on less than before. Some are struggling to survive on one or a maximum of 2 meals per day.
Corporate entities and brands can help Consumers cope through this era via CSR initiatives.
Effort should be subtly communicated to the target audience/general public, through Public Relations management activities. can be used to communicate the effort to a greater part of the public.
Indeed, brands that engage in Corporate Social Responsibility at this time will benefit post COVID 19. This benefits could take the form of:
- Stronger brand recognition
- Favourable positive image
- Increased sales
- Strengthened customer loyalty
- Positive brand equity
- Greater profitability
The big question is: WHAT WILL YOUR BRAND BE REMEMBERED FOR POST COVID-19?
Corporate Image Studies, Brand Equity and Image Research, Post CSR Intervention Research. These are some of our Research Services.
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